It gets technical, but as a result of so many people trying to rort the system, technically no. (ie see the above comments) However, remember you would need to be audited for this to come to light, and if you left a legitimate paper trail (ie get your spouse to lend you the money, or put someting inwriting/document it all including the loan that…[Read more]

As posted, just the extra portion of borowings only if you stay wiith the same lender – which is a terrific reason to do so! . Some lenders are 'cagey' for 'cash out' on anything over 90% LVR as a sidepoint.

Brokers do get what on the surface can appear like a truckload of commission……then again, they get no 'wage', have to pay all their own insurances, overheads, and also…..the lender pays them – so in actual fact, it costs you nothing.This means you SHOULD expect personal interest and a good level of service.Traps to watch for are brokers that…[Read more]

As Terry said, a lot may depend on the lender – but without good reason, you will find a 12mth window in many cases. As you pointe out, in a lower markt, vals are conservative – especially if the house down the road just sold cheaply.

Hi Danceshoesco.If you mean North West coast, and paly your cards right you should find it rewarding. Rules are the same whereever you go, but I had considered buying in some of the mining towns (Roseberry etc) and did not – however IF I had, I could have doubled my money in the last 2 years or so – but of course could just have easily of blown…[Read more]

Often called LVR here in Australia…….

Hi Sav – and welcome to the forum.My first sugestion  before you talk to anyone (makes you sound like you have an idea too) is to have a play on the internet with a borrowing calculator/tool that allows you to pick your state, deposit, purchase price etc, and will then give you a good idea of costs. Most bank websites have these, and even the…[Read more]

[Basic variable homeloans are usually less flexible and with very limited features. I personally like my money to work hard for me, so free redraw is a must. In addition, they normally dont work with professional packages, which means you may hardly talk down  the rate further. Yes the rate is relative low, but not that low as you may get with a p…[Read more]

Must admit that unless someone is after a fixed loan, or offset facility, for a PPOR especially, or a sub 250k IP, why would you go past one of the so-called basic variable homeloans. Some of these loans are .7 (.8 for 'introductry ones if you are looking short term, though I'm not a fan of intro loans) and a couple of the banks even have no…[Read more]

Hi Brendan. I'm a bit out of touch now with some of the various lenders, but CBA and NAB also come to mind as being ok with acreage. That said, most lenders will watn at least a 10% deposit, if not 20%They are much harder to sell these rural properties, thus why lenders require higher deposits if they ofer finance at all. (some won't look at…[Read more]

SPoke to a guy once that had spent around $30k on seminars, and did not own one property…….sorry, not saying that is you, but $5k for a seminar made me think that. Just my 10c worth, but you could buy a low end property somewhere for $5k depoist, plus a bit of LMI and closing costs. Probably last longer than any seminar, but who am I to say -…[Read more]

SPoke to a guy once that had spent around $30k on seminars, and did not own one property…….sorry, not saying that is you, but $5k for a seminar made me think that. Just my 10c worth, but you could buy a low end property somewhere for $5k depoist, plus a bit of LMI and closing costs. Probably last longer than any seminar, but who am I to say -…[Read more]

SPoke to a guy once that had spent around $30k on seminars, and did not own one property…….sorry, not saying that is you, but $5k for a seminar made me think that. Just my 10c worth, but you could buy a low end property somewhere for $5k depoist, plus a bit of LMI and closing costs. Probably last longer than any seminar, but who am I to say -…[Read more]

Hi goodenergy. Please remember that while being creative can pay off, unless you get a no doc loan, which are few anf fare betwen now competitively, you will need a lo doc one, which means in most cases you have to declare an income to 'service' the loan (although rental income counts of course) and that you are self employed. Some people call…[Read more]

Hi Macnatt. Yep, give them notice now. If not, you may find you have to go 'month by month' as far as the 'unspoken lease' (for want of a better expression goes') and then you will still need to give notice even then. Get you agnet to advise them in writing they need to vacate at end of lease as it will not be renewed. All the best with overseas.…

Allianz have a very comprehensive policy, although there are cheaper. Our of 10 if 10 was the most expensive, Allianz would be a 3 – Terri Scheer would be a 9 or 10. They do have some extras, but in all fairness, you wonder how much of it you need. I may consider Allianz next time myself, but I will compare the features with my current stuff (use…[Read more]

The word 'terrifying' comes to find. In all fairness, if everything is disclosed up front, you can make an informed decision, but as Simon said (actaully, 'simon says' sounds better   ) be very careful.  All the best.

Hi there pagey – welcome to the forum. Just wonder…why are you thinking of selling? Do you mean you will walk away with $150k? You could keep your current property and access 80 or even 90 % of this equity easily if you can 'service' another loan. Once you sell, it is no longer equity – just 'cash'. Don't rush into anything. You will be able to…[Read more]

Are they tax advisors? Probably not. Sounds like yet another 'morgage reducion' type scheme that gets 'sold' for several thousand dollars, when any switched on lender (or switched on business person or relative or mentor) should help you with for zip…..Keep us posted but please be cautious.

If you keep an eye on fixed rates, with both banks and non banks (much more $$ now) that gives you a reasonable idea of how the 'experts' feel rates are going to go.  It's hard to imagine them going more than another 50 basis points before the market stalls and the repair work begins. In my humbel opinion, they should be left alone for the rest…[Read more]