Good question. Opinions change as does the market/economy. A year ago I would have said either, grab the best rate. Six mths ago, definately I would have given prefernece to banks (ie the major's not someone with 'bank' in their name) Now, the only reason I would encourage anyone to go 'non bank' would be if they have no choice, or need a no doc…[Read more]

I've said it before, and will say it again……It is the first HOME OWNERS grant. When there are plenty of people who have previously owned a home and have never recived any , or limited govt assistance, since sold, and can now not get back into the market, as are not eligible for FHOG, and their are others busting a valve to save for a deposit,…[Read more]

Corhig makes a fair comment here.  Crossing is Ok for a couple of properties if you are lazy, and don't want to buy a third property or sell one if you have a high LVR – other than that it is not the end of the world.You mention FInancial Planners – you will find that by far the majority (even 'fee for service types' – whom I have much more time…[Read more]

Yup – mostly covered in your replies so far. The MFAA calls the shots in general, and to be a 'member' you  need to have either 2 years prior broking experieince, or your Cert4 FInancial Services (Finance/Mortgage Broking) and a few other courses passed (minr stuff) and a 'sponsor' – essentially meaning they want no 'newbies' between the lines.…[Read more]

Can I suggest you read Simons response again – sage wisdom. I'll add my 15c worth. Unless you have some serious issues, horrible mean parents, or are being abused by your parents, it does not 'suck'. Granted, it may seem to you like that, but board at home, and getting the ironing done, meals cooked, and a roof over your head is a great way to…[Read more]

I think a lot will depend how much deposit you have, as I stated earlier. I'm sure 70-75% would be quite doable, and possibly more. Avoiding a loan or  any lender that mortgage insures their loans (up to 80% lvr ie 20% deposit ) should allow you to get finance, without having to pay much more if any than the standard variable rate at the w…[Read more]

You can't. Easy fixed.

Most of the big 4/5 do not have that big an exit fee on the loans – the ones that are, are usually the disocunted/honeymoon types. Most of the basic or standard ones usually have a flat exit fee, with a early payment fee with some. Really, in the schem of things it is nothing for what you have in mind – a grand would usually pull it up – painless…[Read more]

Many people now are choosing to split their loan both ways, which allows you to pay extra off still on the variable portion if the lender is one (in the minority now I think) who does not allow extra payments on fixed rate loans.You can answer it yourself easily. SUre , you do have to consider your aversion to risk, but really, think of this…..*…[Read more]

Developments? In the US? From a realtor advertising 'free' on an 'overseas' forum? I'd rather buy some rams shares with my childs pocket money. Just joshing, but if you have any non salesish experieince you would like to share I'm sure it would be appreciated much more than advertising inflated property .

Hi morty. I'll save you some money, anxiety, and it won't even be financial advice! If you are as you say 'treading water' perhaps you can relate to the thought ' it 's hard to arrive at your destination if you don't have one' or similar. May I suggest first writing down (yes I know it seems silly – years ago when I was in a position to have been…[Read more]

Welcome to the forum lissteve. I wonder…..would you consider renting for a couple of years if it saved you losing that 35k and gave you a few tax deductions?  Maybe renting will allow you to take a breather so to speak while you plan a few things. Your rates and loan interest will be tax deductable then on your previous home, you won't lose…[Read more]

Welcome to the forum Tez? What sort of deposit do you have? A 30% deposit, or even 20% should be doable somewhere, but you need to ensure your default is shown up as paid – not unpaid. I must admit, if you have an unpaid default, and want to borrow 90 or 100% of the funds, you will indeed have difficulty, especially in the current economic c…[Read more]

Hi Prusli……Ok. Well that measn you should have the actual copy of the val yourself, with the comparable sales and valuers comments on it. (ie it should say how the properties compare to yours, such as better street appeal, but smaller block' or something similar.) Unless you can come up with some other comparable sales, you may be in a spot of…[Read more]

If you have a reasonable LVR, and are on a variable rate loan with your lender, (baa) depending on the size of the loan it may indeed be well worth looking at refinancing. Do the sums, or perhaps give us a bit of an idea what interest rate/loan size/property value you are talking about. Simons point on the tax variation is critical for heavily neg…[Read more]

I think you have anwered it yourself………good old 'unzud' eh?All the best.

Hi prusli. Unfortunately when it comes down to it, the rental income received and any market appraisels have very little if any to do with the actual property valuation, although a rental value is reported on in the val usually. Was it a full valuation – ie done inside the property? All that essentially is used is comparible sales of similar…[Read more]

YEs. I know a commercial premises I was really tempted to buy two years ago – for $440k, with a 'new reliable tennant with dynamic growing buisness, providing you with stable income for years…' (unquote) that showed a much better rent return than anything residential around – at present has no tennant and is listed for sale at $375k.  Glad I…[Read more]

I guess it's not really free advice is it if thir 'structuring and investment' advice is to buy properties they get a commission for – in fact it could prove rather expensive I reckon. You will get good advice 'free' from any lender with an experienced staff member, or a good broker. Sadly banks, brokers, and other lenders do not always fall into…[Read more]

AAMI and NRMA seem close – depends on how much contents/property/excess etc. Have not found  any cheaper than either that offer good cover. That said, if you have a mortgage, why not try the lender (especially banks) you have that through for a quote – you will get a 5 or 10% disocunt likely, which may compensate for them being more expensive in…[Read more]