Hi. Congratulations – that is pretty special. As far as using the money as an extra deposit, that certainly sounds like a plan. You will be quite surprised how much your LMI takes a dip too with this extra money! (i am not near my trusty calculator, but I would suggest anything beween $1500 and $2000 less LMI, depending on the exact premium, and…[Read more]

HI all. Interested in Gtphysios comments. What part of NW Tassie did you buy in? I’m guessing Rosebery or Queenstown at that price. The real estate guys that cover those areas I found don’ t seem overly interested in the first place, which is why I ask. None seem interested in even going out of their way to send more than one picture, and expect…[Read more]

This reply was sent to me with 5 minutes of my previous post by this tosspot.
You are to contact me Directly through this email address so I can be able to send to you the Loan Application Form for the Loan.

Email: helena.office@yahoo.co.uk

Legit offer I’m sure. Excuse me Mr. Moderator……

Hi. As most here say, and I do too, it makes sense on all counts to keep each loan seperate, and not ‘crossed’. However, if it comes down to being able to secure a loan, as opposed to not being able to, sometimes cross colatorising a loan/propertys as security is the only way to achieve what is needed to be done. In all fairness, if you do not…[Read more]

Thankyou so much. I have been beside myself looking for suitable finance, especially at this rate. Can you please post for my benefit, and that of others, the details that will enable us to accept your generous offer of 0.2 % finance, for $250k? I would like to know the LVR you require, and also the settlement terms, and your preference for…[Read more]

Hi Tancas. We did this ourselves once, in NSW, after having our home for 3 mths with an agent that was useless once we had listed, just wnated to have open houses all the time, and whose staff turned out to have the charisma of a car washing sponge, so if you are even the remotest bit enthusiastic about your home, I’m sure you will be fine. Again,…[Read more]

Thanks for the replys/input etc. I understand that this is how it can be worked as a ‘development’ and off the plan purchases go. What I was referring to (I think Terry had the idea) was where you read of someone who buys a house for say, $150k, at whatever LVR, gets early access, does a quick ‘reno’, and somehow gets it revalued at say $200k, and…[Read more]

Hi Marc. Sounds frustrating. Are you actually missing out on properties for rent, or being knocked back. If it is the latter, it is true, your appearance will make a difference. (Each to their own, but sometimes you do have to look the part…) I recall doing a repair job at a real estate agent several years ago, and someone coming in, in a…[Read more]

Hi Bridgebuff. This is one of those things that is a trade off for lower rates. Most do only apply for 1 to 4 years, although a lot of banks have a flat fee (such as ANZ $700) regardless of how long the loan is taken out. While no doubt there are others around if you look, one loan I have written for people that is a fully fetaured loan (like a…[Read more]

Hi. I think you will find that if the casual work is within the same industry type, and he is not on any type of trial period, you should find things not too hard to work out with a good lender or broker. If it is for investment purposes, and you have enough equity to cover 30% deposit, I personally think some of the Lo-doc loans are good (grab…[Read more]

Hi Lindilou. FUnny thing this NZ’ers moving over here, and some of us wanting to move over to ‘Unzud’ – as I would love too…..anyway, be sure to double check, but you will find the ATO has very long arms, and I believe you will find that you will indeed pay Capital gains tax on any profit made overseas, and brought back into the country. I think…[Read more]

Good on you and congratulations. All the best. [strum]

Thanks for sharing that with us Marc – learning from others mistakes is definately cheaper! [biggrin] Feel bad not offering anything back, but if i can call it a mistake, ‘rushing’ into a second property, that does need a few repairs, just so we could feel we were really ‘doing something’ and then being a bit more cautious since then, and missing…[Read more]

Hi Wayne. You mention you are having trouble convincing the lenders you can service the loan – you will find that your application will not even reach the LM insurer until the bank or lender confirms your ability to service the loan first, which each do by having their ‘own’ calculator. If this is ok, then they will process your application, at…[Read more]

Hi G.
A lot of what you ask will depend on whether or not you have a deposit for your planned property, or if you were planning on using existing equity in your own home. If this is the case unless you refinanced your home loan to around 90% of it’s value (and thus paid other fees etc, including a large chunk of ‘Lenders Mortgage Insurance’ – a…[Read more]

Forgot to mention, WA has a heap of other ‘laws’ for brokers we do not have – recalled that from my notes. For example the Finance Brokers Control Act 1975, the Finance brokers Code of Conduct, and the Finance Brokers COntrol regulations 1977, which I beleive apply to all finance brokers, regardless of whether the loan falls under the UCCC or not.…[Read more]

hi Queen gucci (and others),
Unfortunately the UCCC does not cover any credit given for investments or business purposes. That thus includes an investment property/property rented out to a tennant etc. Just wanted to clarify that. The trade practices act, and the credit ombudsman service will likely be the avenues to pursue with this one, and of…[Read more]

Hi queengucci
As per what the others have said, this is a no no as far as conduct goes. While I am relatively new in the industry, I have done my Cert IV in financial services, and only yesterday did the other exam in order to becomes an Accredited Mortgage Consultant, with the MIAA – reason I mention that is because all the trade practices act,…[Read more]

Hi. Sorry that this has not worked out for you. I am wondering if you could reach an agreement with a purchaser to ‘assign’ it to them as the last reply suggested (the seller would need to be happy with the contract being altered to show your name and ‘Or nominee’ most likely) AND as there is an apparent equity gain instantly, perhaps a further…[Read more]

Monthly fees are a bug bear with me. Have you thought non bank? Check out Wizard, and also have a look at ING Bank, whether via a broker or go it alone if you have nothing better to do with your time. All the best. [strum]