Depends on:
1. Which bank
2. Which card ( gold, plat etc…)
3. The credit limit

Normally if you apply for the CC with your own bank that you do banking with they would only ask for payslips and that’s it….very easy and straight forward.

Also since you have a IP- your mortgage lender would provide a free CC most of the time.

Regards
Michael

ummm and he didnt even tell you?

It means what ever you paid him will occur interest as well because it’s “borrowed”

Ohh well learn and live.

Regards
Michael

chito.tsui wrote:
Thanks for the replies, guys.

Shape wrote:
Yes- because it's your money to begin with… Regards Michael

No the money is a gift from my family member, does it affect the loan approval decision?

Alright in that case, it’s a diff situation…it’s not your money/ Genuine savings.

1. Apply to a Non-genuine savings lender -…[Read more]

Yes- because it’s your money to begin with…

Regards
Michael

I can tell you will get the solicitor’s BILL for sure
hahah

Regards
Michael

More hits = desparate ( as Terry mentioned )

MOST ppl once they get their first approval- they normally go with that.

Normally 2 outcomes with active credit file
1. You got rejected by the another banks (something to hide? something we don’t know?)
2. You may have gotten accepted but is shopping around on your own accord – so why waste our time…[Read more]

Tenants in common- you will find it on the bottom of a standard “2005 sale contract” OR if it’s a RESVIC contract it will written within the first 4 pages.

Regards
Michael

A lot of ppl would tell you to use a trust, as it will give you the flexabililty of shifting the tax position and ownership year by year + protection.

However to keep things simple- you can buy it in both names and have a nominated % ( more for the higher income owner…you)- the slae contract will have this as ” Tenants in Common” – and you will…[Read more]

$7600 for that and your SUPPLYING the material as well!! def over priced.

Regards
Michael

Simple answer- no you can’t….

You can’t use credit to pay for credit- The credit card company don’t care! but they will chagre you interest on it from day ONE ( it’s not interest free!! as it’s a cash in advance…not a “purchase”) …the bank however will not lend you the money if you used credit to pay for credit + the bank always write out a…[Read more]

Hi,

To compare the fee’s it depends on Location?

management fee 8.25% – a bithigh, but if it’s in a rural location then there’s not much you can do here..

Not sure why you are paying the below cost— it should be part of the Management fee!

property condition report $155 include GST
inventory report $77 GST
routine inspection charge $77…[Read more]

It sound like your using your own cash for the 10%….
then your applying for a 100% finance from equity release/X-cross etc..

If that’s the case, then No you won’t get your money back as the bank will not subsidize you for your part….they will only finance the purchase directly

Regards
Michael

Having a DB is about protection and flexabililty as well…not just about cost….if it comes down to cost- then yes DB will lose out “most” of the time ( the DB is a business …they need to make money ^^)

Good example of when a DB is recommended:

1. Off the plan purchase – should the builder default, instead of chasing up your 10% back ,.you…[Read more]

ahah i read her story in the recent MFAA magazine + met her twice a few years back both at a CBA conference …

But dame she is a beast….she does the work of 5 ppl LOL!
The stress, paper work and time to write 50 loans per month (solo) is CRAZY!

Regards
Michael

HI Bob,

1. Are you contracting? part time? ie what is wrong with your salary….just beawre even though some bank may think your salary is weird and not “normal” when you approach another banks they may be more then happy to accept it! don;t take a NO from 1-2 bank as the answer.

I seen bank’s accept a self employed with 1 day ABN!! that’s right…[Read more]

Your kitchen is fine….i would just paint over with Cupboard paint ( i think the brand is called “Knight” $50 for a small tin) + change handle.

Also as another posters mentioned, if this property is in a affluent area, then that would be a different story…

Regards
Michael

I think your question is how will centerlink find out??
A question i rather not answer….but if your going to go against the rules; you take a risk- you may not get caught today but you will always be looking behind your back till that day comes.

Just note when setting up a trust or any financial account; your name is STAMPED all over it +…[Read more]

Good old Wendy Higgins — $1B in loans…and is expected to hit 1.5B in 6 years time – she hires 5-6 brokers…so i guess it’s a joint effort??- still a massive achievement!!!!

twothings – sorry to hear about your story with the first broker.. hopefully his/her is no longer in the industry.

One thing about the MB business like any business the…[Read more]

sonyasal wrote:
Hi Just wondering whether anyone has been able to source a very good investor loan recently. Looking for interest only with highest lend possible. Any loans offering 95% lends anymore?Would love to hear people's thoughts and experiences. How hard is it to secure a loan these days with new lending criteria…[Read more]

shoooshoo wrote:
i'm also looking at mining towns, and i asked my broker and he said it doesnt matter where it is, as my lender , BankWest, is not postcode specific…beauty!

Umm i wouldn’t say that; unless your a really strong applicant.
Even though MOST bank’s are not postcode specific; it doesn’t mean they will reject your application…[Read more]