6.79% with Westpac is pretty good; that’s 1.07% off the SVR!

Is it a full featured loan? ie the Rocket? + any x-cross or restrictions etc..

Regards
Michael

Plan to hold and rent or sell?

You may find community title may be hardier to sell due to finance issues for the potential buyer.
Go strata if you must..

Regards
Michael

Hi.

If your just wanting to know the ongoing predicted rent for the place then you just need to compare then to another commercial properties in the area on http://www.realcommercial.com.au/for-lease OR speak to a agent…can’t see any another way around this?

Regarding the parking space, you may find if this is part of a strata plan; then the…[Read more]

Never heard of loan star- But there are thousands of Mortgage manger’s in Aus…. looking at their site i still can’t work out who the “lender is ; this would be on your loan contract when you first signed…who is the “lender/bank” …loan star is just the ” brand ” or provider….

If it’s coming up to 6 month in Oct then loan star should be…[Read more]

Most if not all banks will not allow you to “re-value” after a short period of time, need to wait atleast 3-6 month.
Refinancing to another lender will be very costly given you had your loan for less then 6 month with your current lender…..

1. App fee
2. Switch cost
3. Legal
4. Mortgage deeds prep
5. Early dis-charge fee

So the question is;…[Read more]

Catherine Cashmore from JPP

JPP Buyer Advocates
P 03 9523 1054 | M 0458 143 089| F 03 9523 1082
368 Hawthorn Road, Caulfield South 3162
catherine@jpp.com.au
http://www.jpp.com.au

+ who told u, that you don’t qualify for a mainstream loan? the big 4?

i find some clients who “don’t qualify” especially client who has a history of Bankruptcy think there is no hope, but in fact plenty of lenders even the big 4 would lend with a bit of creativity.

Pretty much If you have enough deposit for a low LVR , you will find a…[Read more]

If your unsure where you stand, its best to start from the basic;

1. Speak to any accountant about how a IP will suit your overall financial/tax return ie what is the expected tax advantage if any ( depending on your tax bracket etc…)
2. Have a chat with family and friends
3. Speak to a broker or banker to work out how much you can afford and…[Read more]

This also means the risk type is very different to your original plan….instead of risking and defaulting on $100,000 for example…the smfs is equally responsible for the mortgage repayments etc…

Regards
Michael

You can buy properties under a SMFS, in term of the name on the title; it be under what we call the smfs’s “warrant” .

They also could be joint buyers with a 3rd party ( however i think there may be some condition regarding 3rd parties who are related, using the one arm rule…something a accountant can confirm) if it’s bought with a 3rd party,…[Read more]

You would have to place it in joint names; so the warranty of the SMSF needs to be listed on the sales; but the loan needs to be a SMSF loan as well.

Regards
Michael

Most insurer will have a online building cal for sum insured …..ie http://www.comminsure.com.au/ —-> go to the bulding sum insured cal.

or speak to builders for a more accurate value.

Regards
Michael

I had a few client who used Jacque Parker and they have been happy with their buy and her recommendations + i had the pleasure of meeting her a few month ago; very easy going and friendly lady.

Regards
Michael

keiko wrote:
Fair enough. It is for a top quality low priced freehold property in a great location, banks love it, will jump on it all day longlooking at 1 or 2 year fixed rates. lowest in the current market

A bit to general…in fact still can’t work out what sort of security it is….

Commercial is very different to resi; they look at the…[Read more]

Im not sure about stamp duty but i know OSR charge a 1.5% CC fee for most of their service….so 1.5% on a $15,000 bill is a bit of a whack….

Regards
Michael

InvestingCoupleACT wrote:
Hi Guys,Anyone know what the law is when receiving a cash gift from a relative is?  Do we have to pay tax on this?  I heard something along the traps that all my relative needs to do is write a statement stating that is a non refundable cash gift??Basic gist is that we want to get a home – we have a deposit but are a…[Read more]

Agree with jamie.

I would only suggest ING for new purchases due to the reduce LMI cost …but def not for refinance….

Regards
Michael

Understand, it is a public forum…

Feel free to PM/email myself or the another active brokers on this forum- Richard Or Jamie.
It’s hard to give a recommendation on what to do next without knowing where the true problem lies? hence my questions.

Regards
Michael

Provide a bit more details on your finance- Maybe your max borrowing is $150,000, can’t say without a bit more details.

Asset:

Income:
how long with current employer and Status ( full time/ contractor?)?
Total rental income per week?

Liabilities:

Financial dependent under 18 and number of applicants?
Total Monthly mortgage repayment ?
Total…[Read more]

Who were your loan with before?