Hi Thomas.There is no excuse for service like that in todays day and age. You are not under obligation to proceed with anything if you have not signed anything yet. I would not sign a contract either if the repayment amount was incorrect and no one could explain it to me. By all means you can change to any ledner you want, ……. I imagine  you…[Read more]

Agreed. I/O is used by some nowadays as a bit of an 'emergency' way to manage your loan particualrly on your own home. Make the payments as if they are principal and interest, (ie, pay a bit extra in each wwek/month etc) but if things get tight or you have some unforseen expenses, you can make I/O payments while going through this. As far as…[Read more]

Hi Cheryl. Yes, you should use one from that state – different processes etc. It is possible to use your exisiting one, but they end up having to source one interstate on your behalf, so effectively you pay almost double that way – as ooposed to approaching a solicitor direct. Most R/E's will have three or four they can recommend. All the best.

Hi Erica. Richard has covered the logistics – you will both have to agree on the amount though. I know in NSW (I would imagine elsewhere too) stamp duty is not payable agaiin on a court/legal ordered divorce settlement when transferring property. From your end I hope you reach an agreemnt amicably on how much is involved as 'walkaway' price. Half…[Read more]

Thanks Stella and Piraner. Great info, and I appreciate your time replying . As a sidepoint what is wrong with a street named after alcohol? I reckon 'Jim Beam Boulevarde' would have a great ring to it……Cheers

No worries Jon – and no – one should be 'blasting' someone with your obvious experience. …you are entitled to your opinion for sure. True, some on the forum have some strong opinions (i could word that differently too thats for sure…)  with finance, gearing pros and cons, structuring etc, but don't arc up too much – I'm sure others like me w…[Read more]

Personal opinion of course – if you have no plans to refi in near future to pull out additional equity, and are in it for the long term, I would fix without any hesitation while the fixed rates are still <8%. You would then be one of the growing 20%+ people at the moment.  Depending on who your loan is with, it is an easy process. All the best.

Jon Chown wrote:
The answer from this site however will be screw the agent don't pay any advertising and do your own legals.Sorry in advance for my sarcasm.Jon

Wow Jon – you must have had a bad week selling those units to all those property investors who judging by some of your other recent posts have a major gripe with – I thought ''Jon is…[Read more]

beaniemonster wrote:
I have several investments in Regional Victoria.  It depends what YOU mean by "Regional",  ,

Hi Beaniemonster. Along those lines, any thoughts on the following as far as the actual areas and from a property investing view? COLACSTAWELLARARATHAMILTONMARYBOROUGHCheers.PS Won't tell you what best forgotton part of rural Vic I…[Read more]

DraconisV wrote:
[What did you mean by this comment? I'm interested in wraps.

Hi Drac.  Just a bit tongue in cheek of me – as this is somthing 'wrappers' have been drilled about on similar shows in the past – evicting non paying 'buyers/borrowers.'.  I was alluding to the stupidity (sensationalism) of making it apear unreasonable to foreclose o…[Read more]

Must admit my opion for shows like four corners, (and don't get me started on today tonight ect) has really dropped over the last year or two – sensationalist exrement to put it pluntly, that unfortunately sends Joe Avergage into a 'it must be true I saw it on the telly' mentaility. The last few weeks as far as interest rates, the mortgage belt,…[Read more]

Hi Katri, and welcome to the forum . Rather than that, why not buy (and read) some of the excellent property mags there currently are. API (Aust Property Investor) is great value, especially for giving you a well rounded overview of property, arreas, and also what strategies others have tried and experieinces they have had. Then go form there.…[Read more]

crashy wrote:
the worst industry Ive had trouble with is removalists.  Will wait till he files BAS for this quarter than call the ATO. 

Like your style crashy……great idea. I would have suggested contacting the National security hotline with some sort of bogus accusation regarding 'something not quite right with their removal activities', b…[Read more]

No Deposit King wrote:
This IS NEW – There is no other lender in Australia that will advance 100% of the valuation PLUS all the stamp duty costs on a 'stand alone' security basis. ).Regards,N. D. King

Had a look at the website – it does sound like a great idea, and the rate is good for the loan. However, there are a couple of others similar.…[Read more]

Hi Keenas. Have you been in the job for over a year? If so,  that shoudl be fiine for at least one well known lender.You will be assessed on all your commission payments, and up to 100% lend depending on location. All the best

Cool Mr. Deposit King. Can you tell me if there is an LMI and if so the % and LMI provider, and also the actual interest assessment rate for any applications. A better product? Make it a Lodoc 100% and I'll sign up this arvo!

Yep, Mark is on the money. You could also play even safer – buying at the lower end of the market and with even lower LVR of 70% borowings or less. Essentially the world is your oyster with what you have achieved – mate congratulations. I seem to have  a lot of 'ex divorcees' etc I run into with finance or refi's (purely chance, it seems to be a h…[Read more]

Hi. In most cases, the lender will want to do their own valuation regardless. This is normal. It may even use the same valuer! In each region, a lender has a preferred valuer or more often a panel of valuers to choose from. They are independanr form the bank. Vals have to be ordered and wordd in a specifice way, but if you got your val fro Joe…[Read more]

micman wrote:
That brings me to the next questionwith a line of credit say i had 50k  equity for example would the bank lend me the  50k to be drawn down at my discretion and only charge  interest on the drawn amount I:E say 25k or is interest charged as soon as the loan is approved on the whole amountHope this makes senseThanksmicman

yep, it…[Read more]

Hi "Opportunity'. No idea. Actually I believe some more in the know than I am feel it has done it's ;boom  thing'. As well as Elizebeth mentioned as well. However, this year I have put together purely out of interest a 'top 10' of the regions or areas that 'experts' believe will either grow furhter, or are great possibilities for long term growth…[Read more]