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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
1945
travelbug
Jul 17, 2011 10:57 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
1709
shape
Jul 14, 2011 8:06 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…

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2600
jb_money
Jul 14, 2011 5:14 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
940
jb_money
Jul 14, 2011 5:09 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
450
travelbug
Jul 14, 2011 2:15 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…

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336
SAEED
Jul 13, 2011 7:06 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.…

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shape
Jul 05, 2011 2:51 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
909
maximus
Jul 01, 2011 10:14 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
701
Victoria_g06
Jun 21, 2011 6:56 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
1304
jb_money
Jun 15, 2011 5:09 pm
btherl
btherl
7 June 2011

Personal Loan - who to go with?

Personal Loan - who to go with?

If you're considering a personal loan, you can also consider a credit card balance transfer as well for part of the amount. You don't need to have an outstanding balance…

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1268
btherl
Jun 07, 2011 10:32 am
btherl
McLovin
McLovin
25 May 2011

Car insurance

Car insurance
1, 2

Our Mazda 3 just came up for renewal, RACV wanted $970. I checked a few companies (GIO, Budget Direct and AAMI). AAMI came in the cheapest at $550. Saving of $400 not…

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6357
McLovin
May 25, 2011 10:36 pm
kexkez
kexkez
23 May 2011

New Lending laws excluding or limiting access to finance

New Lending laws excluding or limiting access to finance

I've just had a work friend go through some major hassles sorting out their loans. They have always banked with a credit union . They were not looking to switch to one of…

20
2878
kexkez
May 23, 2011 8:44 am
kexkez
Lusitano
Lusitano
15 May 2011

home loan and how to get one

home loan and how to get one

Hi vsters, Couple of points: 1. Your income can be acceptable to a lender in a variety of ways. - Full time employment - usually 6 months minimum. Sometimes 3 months will…

3
1016
Lusitano
May 15, 2011 12:31 pm
bigbaby
bigbaby
13 May 2011

Use Equity to reduce interest?

Use Equity to reduce interest?

ahh yeh i see. thanks all. :D once i wrote down the figures it made more sense. lol.

3
713
bigbaby
May 13, 2011 2:43 pm
jb_money
jb_money
12 May 2011

Need some Finance help

Need some Finance help

It looks to me like you are in a great financial position: You will have clear credit (default will no longer be on your file unless it was…

3
1346
jb_money
May 12, 2011 9:03 am
jb_money
jb_money
12 May 2011

Borrowing power and overtime

Borrowing power and overtime

The lending policies for vary significantly between the major…

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921
jb_money
May 12, 2011 8:51 am
shape
shape
6 May 2011

First Home Mortgage Application - too many credit inquiries?

First Home Mortgage Application - too many credit inquiries?
1, 2

I normally dont like to self-promote.. But since this is ur 2nd post. Email me at Michael@shapehomeloans.com.au - and i will be able to help. Regards Michael

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shape
May 06, 2011 4:12 pm
shape
travelbug
travelbug
2 May 2011

investment property managers

investment property managers

If you want info on Investment properties look at www.somersoft.com Excellent info there. Lots to read and you could post the question there. You will get lots of response.

3
767
travelbug
May 02, 2011 6:09 pm
12thofNever
12thofNever
30 April 2011

building new home insurance..

building new home insurance..

Hi TC Welcome We r just like you so many ???? Our builder provided a copy of a BSA Certificate of Insurance to the value of the contract along with a copy of Policy…

3
738
12thofNever
Apr 30, 2011 9:02 pm
Crow
Crow
19 April 2011

salary sacrifice

salary sacrifice

salary sacrifice = A portion of your pays goes straight into your mortgage repayment before it get's taxed. Hence reducing your taxable income and…

11
1951
Crow
Apr 19, 2011 9:42 pm
shape
shape
19 April 2011

CGT Questions

CGT Questions

True, Maybe shoot them an email? im not sure if ATO responses to email or not tho.... Regards Michael

6
889
shape
Apr 19, 2011 11:43 am
shape
nettie.b
nettie.b
14 April 2011

Mortgage Brokers

Mortgage Brokers

I know this is an old thread but wanted to share my experience with a broker. We live in the Lake Macquarie/Central Coast NSW area. We have land and a construction loan…

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nettie.b
Apr 14, 2011 10:01 pm
nettie.b
rhom
rhom
11 April 2011

Offset vs Redraw

Offset vs Redraw
1, 2

offset accounts are nice, higher interest on your money than theyd normally get (savings vs mortgage rates), offset account interest is no longer taxable (it being offset…

24
4147
rhom
Apr 11, 2011 12:16 pm
adherentfollower
adherentfollower
10 April 2011

Did i make the right decision?

Did i make the right decision?

I think you're right, i just must have misunderstood. Thanks for that

2
789
adherentfollower
Apr 10, 2011 10:42 am
Mclaren
Mclaren
7 April 2011

Best Steps Toward our Goal of Home Ownership?

Best Steps Toward our Goal of Home Ownership?

Sorry to read your sad story and the ramifications that you are still living with because of your husband's caring nature. When we were looking to borrow some money last…

8
900
Mclaren
Apr 07, 2011 4:19 pm
Mclaren
jb_money
jb_money
7 April 2011

Genuine savings and amount able to borrow questions

Genuine savings and amount able to borrow questions

You should be fine to qualify for a loan the way you are now. Firstly genuine…

9
2029
jb_money
Apr 07, 2011 9:29 am
shape
shape
4 April 2011

Yellow Brick Road

Yellow Brick Road

If you get Mark Borris as your broker then you know your in safe hands ahahh :) Our firm have dealt with them once before for a major commercial deal, i find them to be…

2
869
shape
Apr 04, 2011 12:28 am
shape
blueblueblue
blueblueblue
3 April 2011

Capital gains tax

Capital gains tax
1, 2

What if it was built 8 years ago? Will they still expect to see the receipts?

31
5405
blueblueblue
Apr 03, 2011 12:14 pm
James_smith
James_smith
2 April 2011

Debt Consolidation via Home loan Topup

Debt Consolidation via Home loan Topup

Hi jb_money, Thanks for your great insight. Refinancing is an option if Bankwest doesnt want to topup the loan as it doesnt make sense for me to pay high rate personal…

6
1360
James_smith
Apr 02, 2011 11:45 am
Marty McDonald
Marty McDonald
1 April 2011

Loan declined due to HOUSE being high risk?

Loan declined due to HOUSE being high risk?

Must be a pretty crappy house :) Onto the next one. I suggest you go with a lender that allows upfront valuation next time if you plan to buy a similar style property. That…

5
2001
Marty McDonald
Apr 01, 2011 8:55 pm
dragonflychic
dragonflychic
30 March 2011

investment

investment

We had similar equity in our home and decided to build a new home whilst keeping the old one to rent out - we figured if we ever wanted an investment property we would…

4
728
dragonflychic
Mar 30, 2011 2:58 pm
shape
shape
30 March 2011

getting a homeloan

getting a homeloan

wakeboardandy - IF you look at your CR file, it sometimes states the amount your cc was initially applied for " Dec 2010 | HSBC | unsecured CC | amount $10,000 " - as…

13
1637
shape
Mar 30, 2011 9:29 am
shape
jb_money
jb_money
25 March 2011

Financing development of 2 townhouses

Financing development of 2 townhouses

Glad I could help, good luck with your project!

3
1425
jb_money
Mar 25, 2011 5:52 pm
shape
shape
20 March 2011

Super Rate

Super Rate

Thanks, revive your email- my team will work on the file tomorrow. Regards Michael.

7
948
shape
Mar 20, 2011 7:25 pm
shape
Izzehz
Izzehz
17 March 2011

Recommend a broker - Frankston area

Recommend a broker - Frankston area

Thanks, I will give her a call later. I know we won't have any trouble getting a loan, just want to try and get a better deal. Thanks again!

4
672
Izzehz
Mar 17, 2011 11:41 am
aza0
aza0
15 March 2011

Anyone used private investors?

Anyone used private investors?

Well with the new laws that banks have to abide by, I have no chance of getting a loan. I am now doing a 2yr Traineeship with Telstra with a stay at home partner who is…

5
1305
aza0
Mar 15, 2011 4:33 pm
Rizzo
Rizzo
9 March 2011

Tiling and painting affecting loan

Tiling and painting affecting loan

Thanks dragonflychic and crawley. I will definitely be talking to the bank manager and perhaps to another bank! Unfortunately I did find the…

17
1314
Rizzo
Mar 09, 2011 9:29 am
Moonahgirl
Moonahgirl
7 March 2011

NAB Advertising Technique

NAB Advertising Technique

I know this is 2 weeks old now - but REALLY!? This is a just markting tool it changes nothing - a survey of customers showed bank customers were the most loyal to a brand…

9
1059
Moonahgirl
Mar 07, 2011 12:58 pm
shape
shape
3 March 2011

Do we stand a chance?

Do we stand a chance?

Yes advantage is slightly different, NAB has 2 co-brands they sell under. Similar to Qantas having Jetstar- different target audience. Regards Michael

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shape
Mar 03, 2011 11:41 am
shape
8
1039
shape
Mar 02, 2011 8:41 am
shape
zeena
zeena
2 March 2011

Building Valuation has come back less

Building Valuation has come back less

Thanks guys for your posts- sorry its taken me soo long to reply. Our situation stands as this, we're still $20,000 short. But since CBA are now offering 95% LVR, we…

4
1220
zeena
Mar 02, 2011 7:57 am
Helyn
Helyn
1 March 2011

Siwtching lines of credit.

Siwtching lines of credit.

None so blind as will not see. None so deaf as will not hear. Jeremiah 5:21 (paraphrase) Some things never change ::wornout:: As I have stated several times on this forum, I…

19
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Helyn
Mar 01, 2011 7:57 am
Helyn
mapcalla
mapcalla
28 February 2011

mortgage house

mortgage house

not sure as yet.... we saw graham to discuss our options... he was very very helpful. We have to save our deposit and when we have nearly done that, we can call him…

4
761
mapcalla
Feb 28, 2011 8:50 pm
Eskay40
Eskay40
28 February 2011

Tax on an investment property

Tax on an investment property

Hi Murphy11, Also with regards to the Depreciation, you don't just depreciate the building. Get a real Quantity Surveyor in there to do a "depreciation schedule". They…

5
1115
Eskay40
Feb 28, 2011 8:03 am
Eskay40
shape
shape
27 February 2011

Regarding unconditional approval

Regarding unconditional approval

Welcome Ravi, What do you mean by "indian component?" But either way, the LMI provider does not accept every "pay type" - ie Maternity pay ( only 50% considered) But…

1
785
shape
Feb 27, 2011 9:14 pm
shape
mak_
mak_
24 February 2011

Home Loan Deposit & LMI

Home Loan Deposit & LMI

Yeah because the valuation on the investment came back less(which made the re-financing and depost percentages change) and the LMI people didn't wan't to give the…

11
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mak_
Feb 24, 2011 7:30 am
mak_
rajan_g4
rajan_g4
22 February 2011

Converting home loan -- 90% to 85%

Converting home loan -- 90% to 85%

Thanks lunchtime. yeah i guess thats the best option, especially when I dont exactly know what the site cost would be, land settles in mid april, maybe would need to use…

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1213
rajan_g4
Feb 22, 2011 10:13 pm
rajan_g4
shape
shape
21 February 2011

Only 5% deposit...

Only 5% deposit...

Hi rajan_g4 -we meet again old friend....:) Regards Michael

8
2025
shape
Feb 21, 2011 8:42 pm
shape
magikalcrab
magikalcrab
21 February 2011

Finance for build?

Finance for build?

Thanks Arabella, I'm definatley going to have a chat to one some day. I just like to have a bit of knowledge before talking to the "pros" so I don't get taken for a ride!

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1310
magikalcrab
Feb 21, 2011 4:35 pm


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