Thanks Richard – I’m pleased you found it useful.

Cheers

Stu

Rolf – I have been able to get ANZ, Westpac, CBA (standard) and NAB to discount their fixed rates… just ask and negotiate.

Jim – NAB will discount their LOC (but its not standard).

6.12% is a bit high for a LOC (watch out for my next article on LOC’s in API Dec/Jan issue).

ANZ has the lowest LOC at the moment 5.97% (if loan is over $250,000).…[Read more]

Mike

I think Leigh is referring to gov fees such as title search, mortgage registration and deregistration, stamp duties, etc.

The NAB package entitles you to an unlimited number of mortgages, transaction accounts and credit cards for one annual fee of $375. Non negotiation required – that’s their standard offer.

Cheers

Stu

On the most part discounts are based on total loans with the bank. As an indication the discount should be as follows:

$150 – $249k = 0.50% off (therefore 6.07%)
$250k – $499k = 0.60% off (therefore 5.96%)
$500K – $999k = 0.75% off (therefore 5.81%)
> $1m = 0.85% off (therefore 5.71%)
> $1.5m = 0.95% off (therefore 5.61%)

Generally the best pro…[Read more]

Not really – splitting the loan gives you the best of both worlds.

There is a lender (Heritage Building Society) – they allow unlimited extra repayments on their fixed loans so this might be an option for you. http://www.heritageonline.com.au

Cheers

Stu

Try http://www.smsloans.com.au

Cheers

Stu

Sapphire Mortgages has a comparison rate of 5.88% (interest rate of 5.85%).

http://www.sapphiremortgageservices.com.au/crs_banksia.asp

Cheers

Stu

It’s a bit like property investing. You need to know what you’re after and then go and look for it. By that you need to define the type of loan you are looking for. 9 times out of 10 people make the wrong loan product choice rather than choosing the wrong lender. Do you want:
– Basic variable
– Fixed rate
– LOC

Then ask the broker for their b…[Read more]

X-collateralisation is not “bad” per say… it’s just not optimal.

The advantages of not x-collateralising are:

1. Properties are not tied to one bank.
2. Doesn’t give the lender access to all security.
3. Deling with one property does affect other loans/properties.

Cheers

Stu

Hi James

I think HomeSide has a product that has an 18 year term on P&I that does not charge mortgage insurance.

Alternatively, a Big 4 lender may lend you say 85% and waive mortgage insurance so long as you agree to be placed on an accelerated repayment program (i.e. pay down the loan below 80% within 2 – 3 years).

Other than these examples I…[Read more]

Most IO loans allow regular principle repayments so why not go for IO and you can have it both ways?

Cheers

Stu

I think the articles in API are excellent. They are written by very professional and knowledgeable people… especially that guy by the name of Stuart Wemyss… he really knows his stuff. [][][]

Cheers

Stu

Hi Steve

I refer to “gurus” generally with no particular person/s in mind. (really just a name for lack of a better word)

I have personally attended a number of seminars where presenters have talked about unlimited finance. I also discussed the concepts with investors and educated mortgage brokers.

Why do you ask Steve? Do you feel that there…[Read more]

Do you know how disheartening it is for us Victorian’s to know that Banana Benders and Crow Eaters are coming down here to feed on our (or at least Steve’s) brains…

Cheers

Stu

I agree. I think Richmond should throw in the towel!!!

… oh! I thought we were talking about the footy club – sorry.

Cheers

Stu

I think only morons and fortune tellers would predict interest rates to rise to 10% in 3 years.

I would prefer to listen to Henry Kaye…. (well that’s taking it a bit far)

Interest rates react to expectations and uncertainty. If is very difficult to forecast 3 months forward (let alone 3 years!!!)… and often 3 month forecasts are wrong.

I…[Read more]

=MIN(A1:A6)
=MAX(A1:A6)

Obviously you have to enter the cell range that contains the numbers.

Cheers

Stu

Some educated comments there George – well done.

FYI – One lender (Heritage Building Society) allows borrowers to make unlimited repayments on a fixed rate. Plus they also give you access to redraw (which is uncommon).

See: http://secure.heritageonline.com.au/LOANS/loans.html

I did a study on fixed rates over the last 10 years to see who is…[Read more]

Hi Huey

The CBA discount offered to members of the AMA is the best that I know of (actually I though it was 0.75% off – but it may have changed).

ANZ has a medical package aimed at new doctors where they waive mortgage insurance.

FYI – 0.70% is the most lenders will generally offer. I have been able to negotiate 0.85% off for clients with $1m…[Read more]

NAB & CBA will do it. Both do not have a min. size.

Good luck.

Cheers

Stu