Hi Passnby – I stand by my earlier comments (see my second paragraph in first post) about not rushing into anything, and to leave it for now based on the information you presented, but if it is going to cost you a $15k fee to refi from your current lender FORGET IT – or you'll never have that BA or the XE!!!!l  Lenders charge 'breakcosts' (so…[Read more]

HI abee. This topic has been covered in a couple of other posts on the forum – check out under the finance section, or do a search – you will find a variety of responses.  4k goes a lot towards closing costs or stamp duty on a deal though…. All the best.

No worries – Moosehead. it really comes down to what you want and what suits you at the present time, and remembering there is no such thing as the 'best loan' –  too many variables. If you have a 20% deposit or more, and perhaps looking for a PPOR and have a great relationship with 'your local bank', depending on the loan size, many find this th…[Read more]

PASSNBY – Love the idea – I'm a sucker for memorabilia etc – especially old motorbikes. me and my better half (ie wife) own a BA Ghia, 5.4 ltr V8, with leather, sunroof, factory sat nav etc – lovely car and rides great with the factory sports suspension, but does not get a lot of use except bigger trips. (it's OK on juice, but juice is $$$) All…[Read more]

Hey, welcome to the forum Corhig. Good question. In theory this is how it should have been done, and many lenders in fact do IF you have  taken the loans out as stand alone products over a period of time, and not been convinced to sign any extra 'paperwork'. .You will see under 'security' on the loan what is offered, and it should only show the o…[Read more]

Hi. Well all the fixed rates appear to be going up, (although they do fluctuate) so it could be interpreted  that someone does not expect rates to be staying lower for a lot longer. I could appreciate someone with a larger $$ loan or tight repayment schedule being keen to fix at this point. All the best.

Actually that is a trap ,many fall for – usually via the 'banks' when they try and convince you to refinance the lot, and 'consolidate' but very rarely do they assist with any loan structuring advice…..the result looking good on paper at a glance, but costing heaps more long term. The way to do it to decrease your payments AND rate and save $$$…[Read more]

Yep.

Welcome to the forum passnby. It doe'snt sound like the expense is worth it for you. Maybe rather than spending money on further property improvements, knuckle down and get rid of as much as that car loan as you can.Refinancing can be a costly excercise if there is  'not much equity' in it,  and if you are refinancing a $238k loan, for $240k, u…[Read more]

Congratulations! As far as your finance goes that shoudl be a walk in the park as they say. With a 20% deposit there are plenty of options, and I imagine your proposed rental and present income will easily service a loan of this size. Just bear in mind in a smaller regional centre, the lender or broker may not have done many loans for a trust…[Read more]

Hi RL – No drama.  IT is not really a problem until you want to buy more than one or two properties, which of course most people looking at investing in property do. Please excuse me if I go over what you may already know in the following, but it may help others. The problem is in the 'servicability' of the loan, or your ability in the mind of…[Read more]

Thanks for sharing that Abruzzi – with your attitude to learn, and willingness to have coughed up that much to start with you'll do great I'm sure. Some good suggestions there too. Must admit, even though I live in NSW the way in which people can be gazzumped in todays market is a shocking set up. I've seen the odd occaassion where a few vendors…[Read more]

They do sound good don't they. ?  If you know what you want, (ie for a REFI, rather than a new home purchase) especially as far as structuring your loan goes, and you don't need a branch to walk into or feel the need to indirectly pay a grand or two to a broker to find you a more expensive loan it may be for you……Check the exit fees etc if…[Read more]

A lot of people forget how postcode specific these 100% loans are. I was looking at an area the other day, and checked and the property was not eligible for 100% lend. These same arreas also usually are no go's for any Lo-Doc loans at all. Rams have access to Three mortgage insurers, most other lenders the one or two, so if you can't get it th…[Read more]

How about REAL ESTATE QUEEN? Sorry. Seriously , if you are having trouble registering the name you wanted to (with your surname?) and as you mentioned you are not suburb or locality specific, you can often appeal to the notice when you register a business name, give a good reason (as such) and it will possibly get the rubber stamp then. I remember…[Read more]

Rossco all I can say is spend some time browsing older posts on this forum – all this has been covered in depth, and you've got two years to do some more research! All the best.

I take my hat off to Fann (to reveal my shiny dome    ) great job. I think we may have still missed the point though. If someone wanted to buy Fanns house that is now worth $600k and get only $500 per week rent for that outlay, it hardly fits the eleven second solution as it did when Fann grabbed hold of it……..Of course, for the more cr…[Read more]

Hey Emma – don't sweat. Unlike 'the banks' and some other lenders, Rams will only assess you for your next loan on your actual loan repayments on your current loans, whether elsewhere or with them. And if you do it in the first two years of your loan (the one you must have based on your description), you are only going to be assessed for…[Read more]

Hi Linda. Just thought I would mention re the Rams "investor loan' you mentioned, there is currently a special offer on that one (till end of July at this point) where you can make additional repayments on loans approved before then – makes it a really competitive loan……. I would strongly suggest seeing a Rams branch direct over a broker – I…[Read more]

Hi Linda. In short, none of the actual banks that's for sure.  While I am not personally a 'wizard fan' (comes after working with them….) they quite likely only use the same valuer as many other lenders in your area. What happens, is that most lenders have what they call a panel of valuers, and the proposed loan MUST be done via one of these.…[Read more]