Since 2001 | Total Members: 161,620

Stuart Wemyss

  • Stuart Wemyss replied to the topic Wraps Banned in NZ in the forum Hotch Potch 21 years, 11 months ago

    Knowingly withholding information that you know will materially affect the lenders assessment of your application is dishonest in my book.

    It is commonly accepted the most lenders in Aust will not finance a WRAP transaction and similar warnings have been sent to mortgage brokers (by some lenders).

    How would you feel if you rented a house to a…[Read more]

  • Stuart Wemyss replied to the topic Obtaining a mortgage using a house abroad in the forum Finance 21 years, 11 months ago

    Not that I’m aware of. Australian lenders only accept property located in Australia.

    Cheers

    Stu

  • Stuart Wemyss replied to the topic Investor/money partner 50/50 split in the forum Finance 21 years, 11 months ago

    Sorry Alwayslearning. I don’t think you can advertise for money partners on this site.

    Cheers

    Stu

  • Stuart Wemyss replied to the topic Reading the daily predictions in the forum Finance 21 years, 11 months ago

    Hedge funds (the biggest sector of the market) don’t have interest rate views they just look to capture direction in the market.

    Direction of the market?

    Anyway, I’ll guess we’ll just agree to disagree.

    Cheers

    Stu

  • Stuart Wemyss replied to the topic Reading the daily predictions in the forum Finance 21 years, 11 months ago

    All markets are based on expectations. Traders, institutions, etc. take positions in the market to either make money or protect (hedge) their positions. Either way, they take a view of where the market may be heading and act upon it.

    It’s the same with everything. Generally, a buyer purchases because he thinks he’s getting good value and a seller…[Read more]

  • Stuart Wemyss replied to the topic Reading the daily predictions in the forum Finance 21 years, 11 months ago

    Yes that’s correct but the sellers in the money markets would not sell money to the banks if they thought they were going to loss. Therefore interest rates are a reflection of where the “market” thinks rates are heading.

    Plus the large banks fund mortgage monies from deposits and their own “internal cost of funds” through their treasury…[Read more]

  • Stuart Wemyss replied to the topic Getting first Mortgage in the forum Finance 21 years, 11 months ago

    Why would you want to borrow more money when you don’t earn a income. Won’t you be too reliant on rental income? Sounds too risky to me.

    Investing is about earning an acceptable return for your risk.

    Cheers

    Stu

  • Stuart Wemyss replied to the topic st george lo doc in the forum Finance 21 years, 11 months ago

    No. Max LVR with St George is now 80%. However you have to pay for mortgage insuarnce if the LVR is over 60% (which costs about 0.50%).

    Cheers

    Stu

  • Stuart Wemyss replied to the topic Postcode restricted in country areas in the forum Finance 21 years, 11 months ago

    Hi Montrose

    I think I am a good example. I am a mortgage broker. I try and offer advice as much as I can. I don’t advertise the fact that I am a mortgage broker because I don’t want any business from this site. (Please don’t think I’m blowing my own trumpet. I’m just providing an example)

    It’s disappointing that you are so cynical that you don’t…[Read more]

  • Stuart Wemyss replied to the topic selling shares for a deposit, taxes?? in the forum Finance 21 years, 11 months ago

    See http://www.ato.gov.au/individuals/content.asp?doc=/content/31570.htm&mnu=5060&mfp=001

    Essentially half of the profit is included in your taxable income and taxed at your marginal rate (as long as you’ve help the shares for 12 months).

    Profit / 2 * marginal tax rate = tax payable

    Cheers

    Stu

  • Stuart Wemyss replied to the topic Lease Assets/Bonds orFin. Inst. for Projects/Loans in the forum No Subject 21 years, 11 months ago

    Can you explain how you think treasry bill, letters of credit, etc. will help you?

    These instruments are normally used by large corporates and institutional investors. They also require capital to be invested.

    Perhaps you should read a bit more about these types of investments.

    Cheers

    Stu

  • Stuart Wemyss replied to the topic servicability rates in the forum Finance 21 years, 11 months ago

    Hi

    Most lenders will not take into account your reduced expenses becuase the loan term is for 30 years and they would assume that you would not live at your parents place for the next 30 years.

    The only real reduction in living expense they may take into account are:
    – company car.
    – salary sacrafice benefits.

    Cheers

    Stu

  • Stuart Wemyss replied to the topic comparison in the forum Finance 21 years, 11 months ago

    Yes, 6.79% is the lowest that I know of.

    See http://www.sapphiremortgageservices.com.au.

    Cheers

    Stu

  • Stuart Wemyss replied to the topic Lease Assets/Bonds orFin. Inst. for Projects/Loans in the forum No Subject 21 years, 11 months ago

    I’m not sure I understand your question. Are you asking if lenders will accept other financial instruments as collateral?

    Some commercial lender probably would.

    Cheers

    Stu

  • Stuart Wemyss replied to the topic Credit History (Baycorp) in the forum Finance 21 years, 11 months ago

    Baycorp (NZ) and Credit Advantage (Aust) merged a couple of years ago so I would think that they can do a Aust credit check.

    Cheers

    Stu

  • Stuart Wemyss replied to the topic Loan Serviceability – Looking for a lenient lender in the forum Finance 22 years ago

    Gee… so you want a lender that will lend you the maximum and you want the lowest rates on the market. You’re easy to please… [:D]

    IMB is not too bad. Have you checked their Budget Loan? Upfront fees are high though.

    That said, they will lend the most if you have “external” debt (which you do) because they take it at repayment amount and don’t…[Read more]

  • Stuart Wemyss replied to the topic Re Finance, Ha? in the forum No Subject 22 years ago

    Correct.

    Re: break costs – maybe. It depends what your rate is and what the lenders cost of fund are. We had an aritcle in our newsletter about this. See our Aug/Sept 2003 newletter at http://www.prosolution.com.au/free_newsletter/free_newsletter.php and go to the bottom of the page.

    Cheers

    Stu

  • Stuart Wemyss replied to the topic Remote property loan advice in the forum No Subject 22 years ago

    If you are using a low doc it could be difficult. However, if you are using a full doc loan and only want 80% then you should be ok. For example, I know CBA will do 80% just about anywhere. I’m sure Mortgage Hunter will be able to help you.

    Cheers

    Stu

  • Stuart Wemyss replied to the topic Another for the Mortgage Brokers in the forum No Subject 22 years ago

    Good call Pisces!

    There are some ordinary brokers/people out there that will encourage borrowers to do some wild things(particularly abuse low doc loans). People – DON’T LET YOUR THIRST FOR WEALTH AND PROPERTY GET IN THE WAY OF YOU ETHICS. Make sure you never lie or deceive a lender.

    Cheers

    Stu

  • Stuart Wemyss replied to the topic Servicing loans/assessments in the forum Finance 22 years ago

    A lender called IMB will take 90% of rental income. They will also take external debt (i.e. debt with other lenders) at repayment amount. Most other lenders gross it up at a higher breanchmark rate. They are a good lender for borrowing capacity for investors.

    Cheers

    Stu

  • Load More

Stuart Wemyss

Step 1 - 0% Complete

Fill Out Your Member Profile Below

Fill in the required fields below to complete your registration.

Registration not only grants you full access to this website, but will also enable us to send you our newsletter, latest investor tips, strategies and information about events/products relevant to investors. You can opt out at any time.

Used to log in to the website and for targeting with messages. Alphanumeric characters only. No spaces allowed..

Member Login
Lost your password?
×
161,620

Register Free To Unlock Unrestricted Access To PropertyInvesting.com

×
1-Day Millionaire Mastermind Workshop - Only LIVE Training in 2019!