Ah Marcs real life experience reminds me of a similar joke……A man with testicular issues that had an operation planned for their removal, was very selfconscious about looking no different – so pleaded with the doctor to see if there was anything that could be done to replace the bits planned for removal. With little notice, the doctor did not…[Read more]

I think it is worthwhile having a loan with an offset facility as the profits from my IP sale will sit in there and offset our PPOR loan. Our PPOR will probably be an IP one day so I will get the tax advantages later down the track, doing it this way. yep pasanbec – that is one of the 'few situations' I was referring to. All the best with your…

Hi somewhereoverthere. There is no real 'best loan'. That said, there are some beauties. A lot of the cheaper ones (like advantage and virgin) brokers don't like because they don't get paid much or cannot access – and yes, they ARE cheap, good basic loans- Advantage in particular. That said, they are designed for people that are happy for a…[Read more]

Hey BJ. Just a personal comment only……Forget about everything other than getting your loan LVR on your own home down – you certainly don't need an offset account (unless you are considering 'converting it' into an investment property in the future!) but on 90k per year you should be able to rip right into your PPOR loan, while paying only the…[Read more]

Just wondering if you really need an 'offset' facility. Many brokers (and others who like to 'sound authoritive') like to toss this expression around to sound important, but really it is only in a very few (which I have done/organised too) situations where it is really beneficial. Just wondering if, depending on your stragey, and if you plan to…[Read more]

Hey Devo – don't worry about wasting money – just imagine how the poor cow that would be silly enough to spend 100 large on a VL Commodore will feel a couple of years later on…..heh heh (nothing personal – just telling it like it is—if you can get anywhere near that take it and run!)

And, when you do have or get equity in the property, if you choose a decent loan, no one says you have to pay the car loan off over 25 years. You get a loan 'split' (free on a good loan) and take the ca loan (or card/personal whatever) over it's original term – ie maybe $10k over 5 years in the split, but @ homeloan rates! And pay it off as quick…[Read more]

Arrh – Sacrilidge – Down lights are losing popularity as it is without butchering a gorgeous pressed metal ceiling – Why not go for the trusty 100w light bulb and glass lamp shade right in the middle, or if you want to be special, a good old classy chandelier. )the type with three bulbs look great) Should look right in character – and create great…[Read more]

Yep – much over 90% can be a challenge now, when there is debt consolidation in particular. Maybe your val will come in well. All the best. A full doc loan with what was once considered a 'non conforming ' lender can often yield competitive rates and results, (ie Liberty ) but many lenders have indeed changed their LVR now on refi from 95 to 90 -…[Read more]

Yeah – the forum is now totally P poor. Ther is no way to keep track of what you are interested in unless you either scroll through pages of history, all the time not knowing who has posted anyway, or get bombadred with emails if you subscribe to a post (if it lets you). The new forum is SO dissapointing-with the losers being anyone who wants some…[Read more]

Me too – I assume exit fees are a problem because either a) you want to do a quick buy and sell or alternatively pay the loan out in full within a couple of years? (If not, what is the problem?) Or 2) You have only been looking at discounted cheap loans – which of course with the time and effort lenders and or brokers have to go to to actually…[Read more]

I believe about 1 in 5 people fix their loans at the moment, which is close to a record high. I can understand a first homebuyer or someone making a large purchase on an owner occupied home right now fixing – for an IP though most of the reasons already stated may point to variable as a more suitable option for some – depends on your plans. I…[Read more]

Anytime right up until they are actually exchanged. So basically, 'due dilligence' done before contracts are exchanged can be an expensive excercise if the property is sold to someone else meanwhile, even if your verbal offer has already been accepted, or if the agent thinks they can screw more out of you now.  And sometimes vendors / their re…[Read more]

hi. I have no experience as such with them. But if the lowest rates are your first concern, I imagine you may feel like many who just scour the internet for the cheapest rate and don't care who it is from – if so they may be your cup of tea. Alternatively you may prefer to pay a slightly higher rate to go with a better known lender that has branch…[Read more]

Hi Guys. MGIC is the name you are looking for I believe. Hopefully Genworth will wake up to themselves now…….The competition and hopefully more flexibility from a new major player will be welcomed.

Yes, it is a pathetic system in NSW. Many people use the cooling off period after contracts exchange to organise inspections etc, which of course does not leave much time. And you could spent a ton before getting all your due dilligence done, and then it gets sold to someone else. A lot of it is due to the large percentage of shonky real estate…[Read more]

Hi Shanshan. Sounds like a plan. There are quite a few on this forum that will be able to give you the guff on Adelaide, but if you can get into the market now, and have rent cover a good chunk of your payments, that is what it is all about. Adelaide does not sound like it is going backwards, in fact long term many feel it is great buying.   As f…[Read more]

Hi Stera. Sounds like an exciting time for you both – congratulations. If I had only one thing to say to someone it would be this very important point – (fact actually)  The cheapest interest rate is not necessarily the best loan. You have obviously worked very hard to save and get in the position you have, so who is to say what you may plan to…[Read more]

Hi Banger 68. COngratulatins on a nice portfolio. As Simon has indicated, a lo or no doc style loan will be what you will need. Of course, you need to make sure that it will not put you in financial difficulty. Sounds like your next property would be good to have it as close to cash flow neutral as you can if this is the case, and make it…[Read more]

Hi pyscho (!) 10k for a new kitchen? And still whingey? Couple of things – with out a doubt, when your lease expires do not offer to renew. Get rid of them as soon as you can, and not a moment later. There are indeed tons of nice families queing up tio rent a nice property.  And the 8 to 11% a property manager will charge you will genuinely save…[Read more]