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jb_money
jb_money
5 October 2010

Asbestos Roofing...on a duplex we are buying...

Asbestos Roofing...on a duplex we are buying...

It is unlikely the valuer will even know it has an asbestos roof unless somebody tells him. If he does mention it in his valuation report and you are borrowing >80% of the…

3
632
jb_money
Oct 05, 2010 3:47 pm
jb_money
jb_money
5 October 2010

Can I just sell up and re invest the money as I see fit?

Can I just sell up and re invest the money as I see fit?

Just be aware that if you have a fixed rate it may be expensive to exit the loan as there are additional "break fees". If you have had your loan for over 4 years then the…

3
716
jb_money
Oct 05, 2010 3:51 pm
xquisite
xquisite
7 October 2010

pros and cons of refinancing... help!

pros and cons of refinancing... help!

There is no way I would be paying 4-5k in LMI for an extra 10k. That's lunacy! And SK is correct that you will end up paying more interest if you add it to your home loan…

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xquisite
Oct 07, 2010 8:29 am
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xquisite
Oct 07, 2010 8:31 am
kexkez
kexkez
7 October 2010

Grant

Grant

done

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576
kexkez
Oct 07, 2010 10:08 am
kexkez
jb_money
jb_money
12 October 2010

Is this how Banks are here ??

Is this how Banks are here ??

That works out to be around $85 in additional interest. Yes it is annoying, however complaining to the bank and hassling them for it would probably take up more than $85…

1
704
jb_money
Oct 12, 2010 2:26 pm
Madison27AA
Madison27AA
12 October 2010

Craigieburn Valuations

Craigieburn Valuations

bump...We are currently also waiting for bank valuation. Can anyone share how much did the valuation (typical) come to ? We are building in Highlands Estate on a 472 sq…

1
670
Madison27AA
Oct 12, 2010 3:13 pm
theanonyuser
theanonyuser
13 October 2010

Anyone else using Mates Rates Mortgage Brokers ?

Anyone else using Mates Rates Mortgage Brokers ?

Just wanted to say I did go ahead with them, they've been great. My block of land valuation came in at 32-50K below what I paid. Which is very unfortunate, and I'm trying…

1
1151
theanonyuser
Oct 13, 2010 9:41 am
MaxPower
MaxPower
19 October 2010

Construction Loan......Help

Construction Loan......Help

Hello We have recently purchased some land a few months back which we are paying a mortgage for. Have gone through the whole building thing and decided to build w/ Dennis…

0
434
MaxPower
Oct 19, 2010 10:21 pm
Eve Dweller
Eve Dweller
23 October 2010

FIRST HOME BUYERS

FIRST HOME BUYERS

Sure interest is dead money. But that expense is contributing to your own asset.

4
1035
Eve Dweller
Oct 23, 2010 9:46 am
emmamartin
emmamartin
27 October 2010

Paying a house with credit card?

Paying a house with credit card?

I ever tried citibank services so but obvious I had no vast knowledge about this but putting a house on a credit card was the best move .

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2087
emmamartin
Oct 27, 2010 1:56 pm
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678
kb46
Nov 05, 2010 1:33 pm
YBBroker
YBBroker
16 November 2010

How do I pay the first progress payment

How do I pay the first progress payment

The above replies already answer the original question, so rather than double up i'll just agree with them. However, you say the first claim is 15%? Is this the building…

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982
YBBroker
Nov 16, 2010 12:50 pm
YBBroker
YBBroker
16 November 2010

having to pay back First homebuyers grant and keystart?

having to pay back First homebuyers grant and keystart?

I'd suggest just calling Keystart anonymously and ask them directly and explain your situation. They'll let you know exactly where you sit.

3
1095
YBBroker
Nov 16, 2010 12:54 pm
YBBroker
YBBroker
16 November 2010

Withdrawing after tender

Withdrawing after tender

It really depends on the paperwork you may have already signed when entering the agreement to go to tender. There are provisions in most building contracts also where each…

2
807
YBBroker
Nov 16, 2010 12:58 pm
YBBroker
YBBroker
16 November 2010

Help!! Construction Loan: Land title not due till June 2011

Help!! Construction Loan: Land title not due till June 2011

These kinds of contracts annoy me to say the least. Recently i met a client who had signed a similar agreement to purchase a block in North Coogee. They had 12 months to…

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1151
YBBroker
Nov 16, 2010 1:03 pm
YBBroker
YBBroker
16 November 2010

Bank West

Bank West

In my previous life as a builder we had problems with claims through several banks, however none were particularly worse than the others. It's best to follow up yourself…

5
1006
YBBroker
Nov 16, 2010 1:32 pm
YBBroker
YBBroker
16 November 2010

Loan Variation

Loan Variation

Will be interesting to see the valuation results, because they're coming in quite low at the moment throughout Perth

3
696
YBBroker
Nov 16, 2010 1:34 pm
YBBroker
YBBroker
16 November 2010

Your take on non-bank lenders (eg MyRate, Homestar..)?

Your take on non-bank lenders (eg MyRate, Homestar..)?

I'd recommend having 2 or 3 appointments with different mortgage brokers, they'll give you some decent answers when comparing loans. It's often the smaller things that…

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1107
YBBroker
Nov 16, 2010 1:35 pm
just Erin
just Erin
16 November 2010

How long did it take for you to get approval?

How long did it take for you to get approval?

Our situation was much like Ms Builder's. We initially went through a broker, and after 8 weeks of being stuffed about (to put it nicely) we went direct to the bank (CBA)…

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just Erin
Nov 16, 2010 1:44 pm
so-tong
so-tong
17 November 2010

Can share your thoughts about my refinance predicament?

Can share your thoughts about my refinance predicament?

Hi zozo, do you mean that brokers can give a discounted rate on top of the published rate for Simplicity Plus? It is currently at 7.1%, lower than ANZ standard variable.…

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1033
so-tong
Nov 17, 2010 6:48 am
S&M
S&M
17 November 2010

construction loan, how does it work?

construction loan, how does it work?

Hi guys just wanted to know some info on how a construction loan works. How long do they usually take? Is it straight forward? Is it a long process? My bank has told me i…

0
576
S&M
Nov 17, 2010 3:34 pm
S&M
Team PD
Team PD
17 November 2010

Contract signing this Wednesday!

Contract signing this Wednesday!

Hi Mel, Congratulations on your contract signing! :D It is a hefty document indeed, but by the sounds of things you got through it and have done well. A video guide that…

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587
Team PD
Nov 17, 2010 4:33 pm
Team PD
McLovin
McLovin
17 November 2010

Buying land with small deposit, can it be done?

Buying land with small deposit, can it be done?

Hey Rellie, we're looking at the Cranbourne / Clyde areas in Melbourne, Victoria. Thanks for the tip RE the unconditional finance thing, we'll keep our eyes on that one.

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1186
McLovin
Nov 17, 2010 5:35 pm
ECOECO
ECOECO
18 November 2010

Cost plus contract - bad idea?

Cost plus contract - bad idea?

It's bad, very bad... no incentive to improve on costs, and you don't know what arrangements your builder has, like rebates from suppliers. The trades will be cost plus…

4
1143
ECOECO
Nov 18, 2010 6:51 am
ECOECO
so-tong
so-tong
19 November 2010

What actually happens - P&I repayment ANZ Simplicity Plus?

What actually happens - P&I repayment ANZ Simplicity Plus?

check with my broker. i think the principal segment of the P&I brings down the principal owing to the bank and brings up the amount of redraw consequently. looks like…

6
714
so-tong
Nov 19, 2010 7:46 am
Helyn
Helyn
19 November 2010

Should I change lender?

Should I change lender?

also, compare exit fees/discharge fees if they apply to you. Big4 usually have a lower exit fee as compared to the non-banks…

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920
Helyn
Nov 19, 2010 2:33 pm
Helyn
acrebuild1
acrebuild1
19 November 2010

Construction Loan......Help

Construction Loan......Help

Just incase anyone wanted to know what happened in our case - commbank came through with the goods, we refinanced our investment property and land and drew on some of the…

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2183
acrebuild1
Nov 19, 2010 9:06 pm
kassan1973
kassan1973
20 November 2010

brokers as seen on ACA?

brokers as seen on ACA?

Hi all, a number of weeks ago 6-8 on Melbourne TV ACA or Today tonite saw a segment on 2 brothers running a mortgage broking business does anyone remember this…

0
463
kassan1973
Nov 20, 2010 6:22 pm
dkp
dkp
22 November 2010

Loans for land and house with two banks - possible?

Loans for land and house with two banks - possible?

Thanks all. I don't really intend to have a separate loan or a line of credit. I just wanted to know if it was possible, in which case I may have had some bargaining power…

4
655
dkp
Nov 22, 2010 10:33 pm
Romani
Romani
23 November 2010

Valuation dillema...

Valuation dillema...

$456k is not little , a lot higher:) The bank is yet to come with the new valuation and it has been more than a week since we applied for revaluation..not sure why they…

7
897
Romani
Nov 23, 2010 2:22 pm
xquisite
xquisite
6 December 2010

Purchasing IP with PPOR Redraw & Tax Implications

Purchasing IP with PPOR Redraw & Tax Implications

I did this for 6 years (until I sold the unit) and had no problems whatsoever from ATO or the accountant; he worked out percentages in a few…

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1607
xquisite
Dec 06, 2010 9:58 am
zozo
zozo
7 December 2010

Simple question but can't find the answer, re: grants

Simple question but can't find the answer, re: grants

If you ring the State Revenue Office they can confirm this for you. I've called them previously and they were very helpful.

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567
zozo
Dec 07, 2010 10:02 am
Alex88
Alex88
9 December 2010

Credit Approval

Credit Approval

We're with Westpac, the land approval took just over a week, and our construction approval took about 2-3 weeks.

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1704
Alex88
Dec 08, 2010 11:57 pm
Alex88
Lunchtime
Lunchtime
10 December 2010

top questions that need answers before you get a home loan

top questions that need answers before you get a home loan

as a customer I found the biggest problem was getting accurate time frames for processing the loan. So this needed to be made clearer

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1324
Lunchtime
Dec 10, 2010 11:57 am
jb_money
jb_money
13 December 2010

on-line queries

on-line queries

The online calculators are for the most part useless. They are as a guide only. Serviceability is very complex and the policies & methods of assessment vary signficiantly…

1
425
jb_money
Dec 13, 2010 9:38 am
Yobes
Yobes
13 December 2010

Mortgage confusion

Mortgage confusion

Thanks for all your help guys! It's all starting to make a lot more sense now.

4
685
Yobes
Dec 13, 2010 9:49 am
yvette72
yvette72
14 December 2010

Its all ours.

Its all ours.
1, 2

lucky you and well done i to remember the day making the last payment on our house we payed our first house up at age 24 but that was before we decided to move its a great…

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2317
yvette72
Dec 14, 2010 3:15 pm
Deemaree
Deemaree
16 December 2010

My Home loan Predicament

My Home loan Predicament

95% would require mortgage insurance I believe

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3259
Deemaree
Dec 16, 2010 8:28 pm
Deemaree
Judabelle
Judabelle
21 December 2010

Paying rent to builder/developer before settlement ??

Paying rent to builder/developer before settlement ??

Well we have an agreement - its called a licence agreement and we move in on 3rd Jan and pay rent until settlement date is finalised (probably mid-late January)... Its…

4
921
Judabelle
Dec 21, 2010 6:38 pm
jb_money
jb_money
24 December 2010

mortgage

mortgage

If the bankruptcy is discharged you can borrow up to 80% of the value of your current property and the new property. You will need to go with a non-conforming or…

2
731
jb_money
Dec 24, 2010 4:13 pm
jb_money
jb_money
24 December 2010

House and Land package- cheap land price? Revalue?

House and Land package- cheap land price? Revalue?

Never expect miracles from bank valuers! If you have strong sales evidence to support your estimated value then please give the list of sales to the valuer, it is always…

2
762
jb_money
Dec 24, 2010 4:16 pm
dragonflychic
dragonflychic
26 December 2010

First Home Buyers Finance Advice

First Home Buyers Finance Advice

That sounds like an over priced house on cheap land. I'm in Perth too. Our house, land, stamp duty(our 2nd property and for land only) and mortage insurance I'm sure has…

5
1666
dragonflychic
Dec 26, 2010 8:43 pm
shape
shape
6 January 2011

Switching jobs, been in the same industry for 20 months

Switching jobs, been in the same industry for 20 months

In short, it depends on the lender - some credit union such as BMC have a product line where probation is fine- but you must be in the same industry for more hten 24 month…

1
524
shape
Jan 06, 2011 12:37 pm
shape
free will
free will
8 January 2011

use existing property as collateral

use existing property as collateral

Given Australian housing prices are some of the highest in the world, leveraging on investment properties is not what I would call a good investment decision. But of…

8
1657
free will
Jan 08, 2011 7:47 pm
deb17
deb17
15 January 2011

Need advice on selecting a home loan

Need advice on selecting a home loan

We are with ME, and have been for years. We have looked at other loans from time to time, we were going to use a Mortgage Broker at one stage, we told him what we were…

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2562
deb17
Jan 15, 2011 6:30 pm
Jme
Jme
19 January 2011

Where did you live when you built?

Where did you live when you built?
1, 2

Hi all Thanks so much for your replies. Apologies for not coming in sooner. We have decided to buy established. We could probably just squeeze by with rent costs and…

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3388
Jme
Jan 19, 2011 12:28 pm
flame_on
flame_on
19 January 2011

Bank is still suffing us around grrr

Bank is still suffing us around grrr

I'm joining this debate late, but I have been in the same situation (i.e. bank re-valued six months after unconditional approval only to devalue by approx $20,000 -…

20
2492
flame_on
Jan 19, 2011 3:28 pm
flame_on


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