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theanonyuser
theanonyuser
29 October 2011

Ubank 6.59% atm

Ubank 6.59% atm

Also re-financing, with MyRate, 6.85% interest rate, 90% loan, and doing construction :)

10
2077
theanonyuser
Oct 29, 2011 5:12 pm
EagleStrike
EagleStrike
29 October 2011

Changing Jobs while applying for home loans

Changing Jobs while applying for home loans

Yeh at the end I decline job offers. Although they did offer me a letter explaining i'm not on probations. Just waiting until my house finish.

8
1982
EagleStrike
Oct 29, 2011 10:41 am
Helyn
Helyn
29 October 2011

Mortgage with Offset component

Mortgage with Offset component

Is there a big difference between an offset account and a loan that lets you have unlimited free redraws electronically with no fees or minimums etc. …

7
1499
Helyn
Oct 29, 2011 8:52 am
Helyn
shape
shape
29 October 2011

Self employed preapproval ANZ

Self employed preapproval ANZ

Hi, How long it takes depends on how complex the deal is + how the information was presented to the bank ( in order with notes etc...) But Generally speaking with ANZ…

2
700
shape
Oct 29, 2011 1:17 am
shape
investa
investa
26 October 2011

Cost Of Mortgage Insurance

Cost Of Mortgage Insurance

Just an update on my situation. Not sure what I have done to deserve this! Our broker has structured new loan at 92%. Last month I got pre approval with unconditional…

12
2262
investa
Oct 26, 2011 8:48 pm
buildingwest
buildingwest
24 October 2011

One applicant with bad credit. What can we do?

One applicant with bad credit. What can we do?

Hi, I would be very reluctant not to have my name on the deed and I would be considering legal advice. If you are also contributing funds to the home you should be…

8
1431
buildingwest
Oct 24, 2011 9:04 am
5
883
iDarren
Oct 23, 2011 8:06 pm
juski
juski
23 October 2011

Can a broker override minimum loan amount? BankSA or CBA?

Can a broker override minimum loan amount? BankSA or CBA?

Thanks for your advice Mike. I emailed the second broker and pointed out to her where on the CBA website it said the minimum loan amount, and asked her to show me…

2
735
juski
Oct 23, 2011 12:41 am
juski
jj1
jj1
22 October 2011

Progressive payments.

Progressive payments.

Hi travelbug, I had been wondering, if we didn't want any loan, bridging or otherwise, how we would have to evidence our ability to pay to the builder. Don't get me…

18
1862
jj1
Oct 22, 2011 1:33 pm
btherl
btherl
21 October 2011

Comprehensive development zoning

Comprehensive development zoning

Yes I would expect it to be worth more. "Walking distance to shops" is a selling point. Though some people prefer peace and quiet. The CDZ near us has nothing at all…

5
737
btherl
Oct 21, 2011 3:40 pm
btherl
theanonyuser
theanonyuser
19 October 2011

Construction loan coming in 20-30K below contract price

Construction loan coming in 20-30K below contract price

I've had a chat to the new person, MyRates, and the valuation is back. The land is more reasonable this time, the house has come in at 190K. The explanation was that the…

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1596
theanonyuser
Oct 19, 2011 8:30 pm
Matt Kenworthy
Matt Kenworthy
18 October 2011

Mortgage Brokers in Perth

Mortgage Brokers in Perth

Hi AubinGroveFan, Whilst obviously biased there is definitely a big difference between a good & bad mortgage broker (be it service, or through incorrectly structuring…

2
1369
Matt Kenworthy
Oct 18, 2011 8:41 pm
shape
shape
11 October 2011

Mortgage Paperwork - Where does it normally get sent?

Mortgage Paperwork - Where does it normally get sent?

No set rule.. you or the broker can ask for the paper work to be sent to who ever you like! Regards Michael

3
1048
shape
Oct 11, 2011 9:37 am
shape
hutcheee
hutcheee
28 September 2011

What loan do I choose? How do I build before I sell my house

What loan do I choose? How do I build before I sell my house

I actually thought of keeping it and renting it out but if I borrow the money for the land on my current morgage it will take it up to $450K, then when I borrow again for…

4
1033
hutcheee
Sep 28, 2011 2:49 pm
hutcheee
investa
investa
24 September 2011

New loan application

New loan application

Wow Trent that answers everything! My broker said she has tried to do it as sperate land loan and construction loan but bank wants it done this way... Maybe im in a higher…

6
1240
investa
Sep 24, 2011 8:54 pm
juliettelisa
juliettelisa
24 September 2011

Progress Payments & Construction Loans

Progress Payments & Construction Loans

Our land is fairly flat, so that should help with site costs! Haha, I can completely understand your inability to concentrate! There is a special feel to Laurimar - you…

15
2822
juliettelisa
Sep 24, 2011 8:30 pm
mum2matt
mum2matt
19 September 2011

Help with loan options

Help with loan options

Hi Trent, Thanks so much for your detailed post... a few good ideas which I will followup on with the builder. Thanks again for your help, much appreciated. We have got a…

5
931
mum2matt
Sep 19, 2011 10:13 pm
Trent Davidson
Trent Davidson
19 September 2011

Loan may not approved

Loan may not approved

Hi Motion Bee, By the sounds of it your broker hasnt said you 'cant' get a loan.. Just that it MAY make things more difficult. If you are wanting to keep the land I…

3
1123
Trent Davidson
Sep 19, 2011 12:38 pm
Trent Davidson
beaglebum
beaglebum
13 September 2011

clueless about options

clueless about options

thanks for the quick reply kyton! I'm about to go read up on line of credit :) I'm a little wary of the extra responsibility of renting out our existing, although we did do…

2
603
beaglebum
Sep 13, 2011 8:42 pm
ritwick
ritwick
13 September 2011

Home Loan Got Rejected Due To LMI

Home Loan Got Rejected Due To LMI

Hi, @MarkF Thanks for the advice I am aware of the NCCP Act and it will not be any advice but is only on how we overcome difficulties. It will never be on what product…

15
5268
ritwick
Sep 13, 2011 4:53 pm
btherl
btherl
6 September 2011

mortgage refer service with commission refund

mortgage refer service with commission refund

That's a good point.. though on the refundsdirect website they say this: "You will be contacted by your chosen lenders who will discuss your needs, their products and…

4
730
btherl
Sep 06, 2011 12:00 pm
btherl
deb17
deb17
5 September 2011

What are our chances?

What are our chances?

Congratulations, that's great news.

14
1611
deb17
Sep 05, 2011 3:02 pm
btherl
btherl
2 September 2011

Construction Loan Timeline

Construction Loan Timeline

My timeline was something like this: 1. Pay 5% deposit for land, from own money 2. Pay 5% deposit on building contract, from own money 3. Pay remained of my money that…

6
1656
btherl
Sep 02, 2011 11:41 am
btherl
catjim
catjim
30 August 2011

Owning Outright - Being Mortgage Free

Owning Outright - Being Mortgage Free

We paid off our first mortgage on 16 May 1986. I remember that day very well. It was my birthday the next day and I was determined that last mortgage payment was going…

19
2240
catjim
Aug 30, 2011 10:33 pm
Titch101
Titch101
28 August 2011

mortgage/income protection insurance

mortgage/income protection insurance

I found the best offers were through my super fund, its worth contacting them to see if they provide income protection etc as its easy to arrange deductions from your wage.

13
3472
Titch101
Aug 28, 2011 8:40 pm
KAN
KAN
26 August 2011

Construction Loan or Not?...

Construction Loan or Not?...

Ours was with a volume…

5
982
KAN
Aug 26, 2011 5:48 pm
shape
shape
22 August 2011

Stamp Duty... I'm out of my depth

Stamp Duty... I'm out of my depth

Hi, Answers to your questions: 1) How and when do I pay my stamp duty? ~$5,370 ( give or take $200) Payable 2 within weeks after settlement. 2) Is this based on my…

7
1377
shape
Aug 22, 2011 10:16 pm
shape
cattycatcat
cattycatcat
17 August 2011

Mortgage insurance?

Mortgage insurance?

Just wanted to say... I'm really glad you left this post up. I just found it really helpful... Thanks! ::lol::

7
1073
cattycatcat
Aug 17, 2011 11:52 pm
cattycatcat
Alexyeo
Alexyeo
9 August 2011

Written quotes for duplex construction loan - pre-approval

Written quotes for duplex construction loan - pre-approval

Thanks for the note. I spoke to the financier to clear some things up and they pretty much reinforced what you say. Time to start getting quotes then!

2
1069
Alexyeo
Aug 09, 2011 5:15 pm
trishcoastie
trishcoastie
9 August 2011

loan on a rental???

loan on a rental???

yes,thank you soooo much....

10
1057
trishcoastie
Aug 09, 2011 3:20 pm
trishcoastie
shape
shape
8 August 2011

Loan approval with high % unsecured debt?

Loan approval with high % unsecured debt?

Hi, Firstly your land settles in 2 month time + contract signed and you havn't gotten a unconditional approval from lender yet??? - you better start getting cracking.…

5
1065
shape
Aug 08, 2011 6:52 pm
shape
Shilpa
Shilpa
3 August 2011

HAS ANYONE BOUGHT FURNITURES ON FINANCE OPTION?

HAS ANYONE BOUGHT FURNITURES ON FINANCE OPTION?

Hi Shilpa, I have used the interest free finance options from Harvey Norman and other retailers for years - for items from mattresses to fridges…

5
1232
Shilpa
Aug 03, 2011 8:03 pm
Cyclops2344
Cyclops2344
1 August 2011

Financial product comparison websites

Financial product comparison websites

I know of several people that have had unpleasant surprises using financial comparison websites (insurance, home loan...) – namely concerning the so called comparison to…

0
429
Cyclops2344
Aug 01, 2011 12:49 pm
Marty McDonald
Marty McDonald
28 July 2011

1% discounts from CBA, ANZ and Suncorp

1% discounts from CBA, ANZ and Suncorp

CBA came out with a published 1% discount off the standard variable rate today for sub 80% LVR loans over $500k. There is certainly a price war going on with other lenders…

0
682
Marty McDonald
Jul 28, 2011 4:39 pm
Marty McDonald
Marty McDonald
28 July 2011

Exit Fee Varied from $0 to $350 Wizard (AMS) !

Exit Fee Varied from $0 to $350 Wizard (AMS) !

Exactly better the devil everyone knows. Some of the crap GE and Rhg (old rams) pulled during the gfc was unbelievable. That is why contrary to many of my colleagues in…

6
1310
Marty McDonald
Jul 28, 2011 4:35 pm
Marty McDonald
Marty McDonald
28 July 2011

choice home loans

choice home loans

I have seen this argument many many times before about who is better brokers or banks direct and IMO it comes down to the people you deal with not the institution. Your…

11
1835
Marty McDonald
Jul 28, 2011 3:41 pm
Marty McDonald
Marty McDonald
28 July 2011

Inaccurate credit report

Inaccurate credit report

I am not 100% on this but I have a hunch D & B are more in the commercial credit report space and Veda are more in the individual space. In terms of address I have had…

5
700
Marty McDonald
Jul 28, 2011 3:25 pm
Marty McDonald
Marty McDonald
28 July 2011

Not being unconditionally approved before house is complete

Not being unconditionally approved before house is complete

Yes that's right at 75% lvr you have effectively a worst case scenario of a 20% margin for error ie a 95% loan. Certainly not ideal if it were to pass due to lmi cost but…

3
1716
Marty McDonald
Jul 28, 2011 3:18 pm
PhotonSmith
PhotonSmith
27 July 2011

Mortgage insurance under 25s

Mortgage insurance under 25s

Hm not that I know of personally. LMI is only needed when you borrow more than 80% of the value of the property. It should be waived if LVR is less than or equal to 80%,…

15
1800
PhotonSmith
Jul 27, 2011 6:04 pm
Marty McDonald
Marty McDonald
21 July 2011

How many credit enquiries?

How many credit enquiries?

Hi, I for one am not convinced that broker inquiries ie agent inquiries dont count against you. If credit score is done automatically and the algorithins are secret how…

6
1265
Marty McDonald
Jul 21, 2011 7:20 pm
travelbug
travelbug
17 July 2011

Interest Only or Principal and Interest?

Interest Only or Principal and Interest?
1, 2

From an investment point of view that makes a big difference. If you do down the track decide to make the property…

21
1889
travelbug
Jul 17, 2011 11:57 am
shape
shape
14 July 2011

Eeeek!! Bank valuation on land way too low!

Eeeek!! Bank valuation on land way too low!

You can fight the valuation if: 1. you have solid proof of comparative sales in the last 3 month ( no older- and the sale must have settled) 2. Similar property ( not just…

4
1677
shape
Jul 14, 2011 9:06 pm
shape
jb_money
jb_money
14 July 2011

Declined by LMI - what to do next?

Declined by LMI - what to do next?

Without a doubt, apply with a lender who has a Delegated Underwriting Authority (DUA) with Genworth. Talk to a mortgage broker and they can sort this out. BankWest…

6
2567
jb_money
Jul 14, 2011 6:14 pm
jb_money
jb_money
14 July 2011

Land deposit count as savings?

Land deposit count as savings?

Yes it is counted as a deposit however it may or may not be counted as genuine…

5
933
jb_money
Jul 14, 2011 6:09 pm
travelbug
travelbug
14 July 2011

Definition of residential Home

Definition of residential Home

No you are not entitled to the CGT exemption. If you had lived in it for a while then moved out you would be entitled to claim the exemption under the 6 yr rule. But if…

1
440
travelbug
Jul 14, 2011 3:15 pm
SAEED
SAEED
13 July 2011

Definition of residential Home

Definition of residential Home

I bought a property with my sister 4 years ago , paid most of teh deposit 50/50 and she moved in We were planning to get some work done to the property and sell it mind…

0
324
SAEED
Jul 13, 2011 8:06 pm
shape
shape
5 July 2011

Deposits... i hate banks

Deposits... i hate banks

Hi there, this is almost similar in our case. Our broker ensure us that we are only paying a 5% deposit for the land and home loan.…

7
2300
shape
Jul 05, 2011 3:51 pm
shape
maximus
maximus
1 July 2011

Calculator / simulator - construction loan

Calculator / simulator - construction loan

Thanks. I decided to do that during the week. It's not the most elegant spreadsheet but at least it enables me to see how the numbers pan out.

2
896
maximus
Jul 01, 2011 11:14 pm
maximus
Victoria_g06
Victoria_g06
21 June 2011

Advice about Breakfree package from ANZ

Advice about Breakfree package from ANZ

It sounds like the bank staff just didn't understand their product completely. It is quite common as home loans, cheque accounts, credit cards…

2
697
Victoria_g06
Jun 21, 2011 7:56 pm
Victoria_g06
jb_money
jb_money
15 June 2011

Construction loan question

Construction loan question

Just be careful as CBA charges very high LMI premiums on loans that are increases on an existing loan. So if you are borrowing 95% it may actually be better to internally…

4
1290
jb_money
Jun 15, 2011 6:09 pm


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