Hi Kooz,THis is really a 'how long is a piece of string' question at the moment – although it should'nt be. There are so many variables, and a lot will depend on whether you want (or mean) a 'subject to' approval, ( or conditional ) or an unconditional one. Unconditional means you have found the house, the bank has had it valued to their…[Read more]

I still reckon AAMI are pretty good, although I have got a policy with NRMA too.Have found both helpful on the phone, although no claims made.

"my property' is also a good mag too. (or is it 'my investment property'?)API and it are both a good read, and educational – but as there is such a wide and varied opinion on strategy, products, and 'growth figures' take it in all in with a grain of salt, and dont jump into anything just 'cos you read it in either mag without doing a bit of…[Read more]

Hi BB8Your loan contract is simply breaking up the discount structure for you, as it is indeed a 'tiered one'.For example, your Choice package margin is 0.5 %, and the tiered discount margin depends upon the initial size of your loan. You get another 0.2% off for loans in your package over  $250k (as yours is) and that would be 0.1% for loans…[Read more]

Banks will want to see full disclosure, a reasonable asset position for your age, and that you can afford to pay your loan. Not that it applies to you, but having a small or no deposit, credit cards with high limits, and a personal and or car loan chucked i n for good measure and applying as a 'new to bank' customer simply will not cut the…[Read more]

PosEnterprises wrote:
How about RHG are they passing on nothing as usual?

I see NAB has just purchased a heap (may be that should read 'rather large bundle'???) of old Rams (now RHG) loans from their loan book and given them a fancy new name and website. Hopefully you may get some rate relief there in the near future. ? Cheers

Hi Kell,Be mindfull that a lot of people do not like (or want) polished/exposed floors in colder areas – as it really does make a difference to the heating required, and that 'cold feeling'. So in Vic, Tassy, and parts of NSW may be better of recarpeting your place.Cheers

So the above 'broker' advises gettng someone to convince their aged parents to get a 'lo doc ' loan so they can fund a deposit with someone with no savings? Did I read that right? No wonder the industry is in such as mess, and we see things daily going on that have people loose what litlle faith they may have had in the industry altogether. I…[Read more]

Hi JjlyeI must confess I too think it is exhorbatant. One agent has suggested I use their tradesperson and pay $75 twice yearly for a detector inspection. Unfortunately, this appears to be because it is for a qualified electircian callout – apparently a 'handy man' must not be able to do this. Just lloking into it on one now myself. Have an…[Read more]

HI pawky,As already advised, you would not be eligible for the FHOG.If you or anyone wants to confirm this, may I suggest checking out (for NSW) the govt website.Link is at http://www.osr.nsw.gov.au/benefits/first_home/You can even download an application form – and it clearly goes through the criteria here. Any lender, banker, or broker based in…[Read more]

Mmm,The NAB and Westpac seem to be the most competitive with fixed rates atm, and from looking at each majors interest rates, I notice nab have just done the oppostie of what this thread mentions with the variable/package rates….and this week reduced their 'package' interest rate discounts further. ) 0.6% disc now from svr for $100k-$250k…[Read more]

Yes tugger – that is no drama at all. When it comes to the end of the fixed term I/O it will normally revert to P&I in most cases, and go to the standard variable rate unless you switch again after your forst 3-5 year term.  While the 3-5 year rates fixed are in the low ti mid sixes (%) it is some serious food for thought isnt it?All the bestCheers

Hi Yopoli,WHile the delay may not be good, bear in mind a lot now are only honouring any quote for a week maximim – and by the time you had new loan docs prepared, and executed, and returned, that is well over a week – and rate would be different again,The  lender may be being inundated with these requests, but ideally you shoudl certainly not…[Read more]

Hi Boshy – sounds frustrating – and unfortunately this time of the year, not looking too good.Realistically, regardless of whether you use a broker, a credit union, or bank direct, the solicitor/conveyancer has the responsibility to get the contract to them, usually this is after both the lender (and hopefully broker in this case) and both…[Read more]

Hi Clareow – welcome to the forum.As Terry has mentioned, it all depends on how much money you have 'sitting around' as to how an offset account may work for you.I assume when you say you have seen 'One direct on line accounts' you are talking about the actual homeloan, and not their savings accounts? (unrelated)The easiest way to work out if an…[Read more]

If you have a standard varaible rate loan, of this size, you will get a 0.7% discount easily with the NAB,i f you are happy to pay a package fee – most lenders (all the major banks) will not give you a genuine discount without being part of a package, unless you opt for one of their 'base loans' – which is not a bad option either if you do not…[Read more]

Hi Glassy – welcome to the forum too….More than happy to give you a bit more info.Dont take it the wrong way (please) but I must reiterate, that if rates were still rising, or had levelled off, you would be happy I'm sure. And…..possibly you would then not be able to afford the $500k now you are looking at for your new house.What the lender…[Read more]

You only pay tax if you are making money. Leave capital gains out of the equation  (which you dont get unless you sell anyway) and making money seems to make more sense than losing money – seems a better idea from where I sit.Cheers

Hi Marie07 – and welcome to the forum.It sounds painful doesnt it? altough just imagine how you would feel if rates were now 9.9%…..While that was quite a high rate to fix in at, its all relative.Couple of things that may assist with decision making.1) Is it your own home, or an investment property?If your own home, unless you fix it in again at…[Read more]

HI Ferio,Call me a prude….but if you are buying an IP – and want to claim the FHOG……..you have sort of missed the point of it all.However, if you want to buy an IP, claim the FHOG anyway, and grab up to 14k of benefites from the government, and pay no or less stpam duty as well (depending on the state) then surely 'moving into' a house for 6…[Read more]