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Deemaree
Deemaree
30 May 2010

CBA's Wealth Package and Interest Offset option!

CBA's Wealth Package and Interest Offset option!
1, 2

True there Helyn. The attitude of banks (as opposed to credit unions) is very much for their investing shareholders benefit IMO. Worst thing for customers (and staff) was…

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3341
Deemaree
May 30, 2010 8:09 pm
Deemaree
37
3130
mark299
Jun 04, 2010 10:53 pm
Ceebs
Ceebs
5 June 2010

First Home Loan and wife off work

First Home Loan and wife off work

Raphael, I'm not sure specifically what flexibility banks offer in terms of altering repayments. I know Wizard (or was it Aussie??) used to offer a thing called 'pregnant…

6
1063
Ceebs
Jun 05, 2010 4:50 pm
Pepto471
Pepto471
8 June 2010

Will we get approved...or not...

Will we get approved...or not...

and they lived happily ever after.....that's good news

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1423
Pepto471
Jun 08, 2010 6:17 pm
Pepto471
kek
kek
13 June 2010

Question about joint loans

Question about joint loans

That's just bizarre. :shock: Of course you can have a joint mortgage with security being a property held in only one of your…

6
844
kek
Jun 13, 2010 10:11 am
kek
jb_money
jb_money
14 June 2010

FHOG and the 'first home vacant land concession'

FHOG and the 'first home vacant land concession'

Grant rules vary between states and can be quite complex. For this reason I wouldn't recommend taking advice from a forum, better to call the QLD first home hotline 1300…

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687
jb_money
Jun 14, 2010 11:48 am
kek
kek
2 July 2010

Is it worth having redraw on the Home Loan?

Is it worth having redraw on the Home Loan?
1, 2

Helyn is right. But if you put your surplus funds into your home loan, thus offsetting the interest on the loan, in most cases it will work out better than if you parked…

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kek
Jul 02, 2010 5:34 pm
kek
btherl
btherl
5 July 2010

When do we receive our First Home Owners Grant?

When do we receive our First Home Owners Grant?
1, 2, 3

Pepto, we did not need the FHOG at settlement, we used the money we had declared as our deposit to the bank as our deposit. If the FHOG is part of your deposit then…

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5356
btherl
Jul 05, 2010 10:27 am
btherl
jb_money
jb_money
8 July 2010

Settlement Delay- Interest (Isn't my broker liable 4 this?)

Settlement Delay- Interest (Isn't my broker liable 4 this?)

If your broker hasn't done the right thing by you then you should put your complaint in writing to their complaints manager. If they do not handle your complaint properly…

6
1279
jb_money
Jul 08, 2010 4:39 pm
bek7708
bek7708
9 July 2010

Early exit fees on a Westpac Fixed loan

Early exit fees on a Westpac Fixed loan

Hi there, We were in the same situation at the start of the year. We had a fixed loan with Westpac and we had to pay just over 5 grand I think to break it. There was…

3
1480
bek7708
Jul 09, 2010 11:29 pm
bek7708
atenney
atenney
12 July 2010

95% LVR - Are they still available?

95% LVR - Are they still available?

We recently applied for 40% back on our lmi after closing and opening a new loan with Westpac (within the year) only to be told that there policy has changed and that they…

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3422
atenney
Jul 12, 2010 12:23 pm
danny girl
danny girl
14 July 2010

Construction period of loan

Construction period of loan

Hi jb_money, thanks for your response. Wish I read it earlier, I rang the bank's call centre a few days ago! It was regarding a few questions though, and I asked about the…

3
815
danny girl
Jul 14, 2010 10:06 pm
aldavies3
aldavies3
19 July 2010

bankwest

bankwest

I think they should swap the W and B around, nothing but trouble for me, started when we wanted to move from north WA to South WA, I had a…

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1713
aldavies3
Jul 19, 2010 1:04 am
Moonahgirl
Moonahgirl
19 July 2010

Home loan and changes to contract price

Home loan and changes to contract price

Thanks for the advice everyone. I'll definately take that on board. I'm aware we will have to cover variations and I have added a healthy contingency to my calculations.…

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1431
Moonahgirl
Jul 19, 2010 5:42 pm
jb_money
jb_money
2 August 2010

confusion on building

confusion on building

It is very much a "how long is a piece of string" question. It would depend on the lender policy, how much the land was, how much construction is etc. As a general rule if…

5
835
jb_money
Aug 02, 2010 12:34 pm
Casa2
Casa2
9 August 2010

Agent fails to get 10% Deposit

Agent fails to get 10% Deposit

Let me see if I understand this correctly. 1) The agent sold your house 2) You got 90% of the price If so, the agent is…

6
855
Casa2
Aug 09, 2010 8:31 pm
Titch101
Titch101
10 August 2010

Land Equity

Land Equity

Thanks so much for clearing that up for me, it gives me some valuable info to go back to my broker with.

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2131
Titch101
Aug 10, 2010 10:52 am
John L
John L
19 August 2010

ANZ Breakfree package

ANZ Breakfree package

We've had this package for around 6 months now and no complaints. Had to ensure everything was set up correctly in the first place - but who doesn't have a problem with…

6
2635
John L
Aug 20, 2010 12:08 am
Helyn
Helyn
24 August 2010

Re-amortising (sp) loan.....

Re-amortising (sp) loan.....

Thanks for your explanation Ceebs - Not Confusing at all. :D If I come across this term again, I will know what it means. :D

5
672
Helyn
Aug 24, 2010 6:43 pm
Helyn
pammerz
pammerz
26 August 2010

Owner builder finance. Experiences?

Owner builder finance. Experiences?

Hi Meg, Intellichoice are the finance specialist we went through. They help us aquire our funds and we were able to build our ghome based on the end value. We had…

9
6504
pammerz
Aug 26, 2010 10:05 am
FireFox
FireFox
27 August 2010

Measuring land of your new property- is it needed?

Measuring land of your new property- is it needed?

we are planning on a knock down rebuild, and got our block measured and drawn up for $220 was for the demolition plan, you also get your exact block size and found out our…

9
1177
FireFox
Aug 27, 2010 12:40 pm
FireFox
MissVintage
MissVintage
31 August 2010

Advice Wanted

Advice Wanted

Thanks guys I am a bit calmer today and not so panic'd at trying to find such a big deposit at the last minute. Lets just hope I have enough equity in the block to pay a…

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961
MissVintage
Aug 31, 2010 1:52 pm
MissVintage
jb_money
jb_money
1 September 2010

Buying out Co-Borrowers

Buying out Co-Borrowers

When there is a change in the borrowers or the owners of the security property then the loan needs to be re-written. What this means is a full loan application from the…

1
476
jb_money
Sep 01, 2010 4:11 pm
slknv
slknv
2 September 2010

Can you borrow $ short term to build investment property?

Can you borrow $ short term to build investment property?

Firstly to sell in 9 months you will pay double the CGT that you would pay if you sold after 12 months so I'd avoid that. I'd use a line of…

8
998
slknv
Sep 02, 2010 11:31 pm
Deemaree
Deemaree
6 September 2010

Paying more than interest on const loan

Paying more than interest on const loan

Isn't interesting how they can change their tune when you do some research????? Glad that it's worked out for you! :: ::

10
863
Deemaree
Sep 06, 2010 8:08 pm
Deemaree
Huggy_B
Huggy_B
7 September 2010

To buy OR not to buy???

To buy OR not to buy???

Equity? By your calculations you have ~$25k equity available (for investment loans) and $60k to open a line of credit for reno's. Before you start looking at houses, go…

4
699
Huggy_B
Sep 07, 2010 11:03 pm
Huggy_B
Helyn
Helyn
8 September 2010

Developing Loan Questions

Developing Loan Questions

Do you mean CGT (capital gains tax) - which you will have to pay.

5
846
Helyn
Sep 08, 2010 10:02 am
Helyn
jb_money
jb_money
14 September 2010

HIA standard contract and construction loan

HIA standard contract and construction loan

You should be able to negotiate that into it. Most of the contracts we see have a subject to finance clause where almost all of the deposit is refunded if finance is not…

3
1184
jb_money
Sep 14, 2010 8:52 pm
grace_slick
grace_slick
15 September 2010

Finance options for buying before you sell

Finance options for buying before you sell

Well, technically sort of, yes. Lol. The only issue would be is if the property went too high, and then we’d be out-priced, sadly. The only other thing which stresses…

4
731
grace_slick
Sep 15, 2010 2:46 pm
grace_slick
MissAlison
MissAlison
15 September 2010

How long to wait for final payment of a contruction loan?

How long to wait for final payment of a contruction loan?

So I rang for the 'have you got the paper work and how's it going?' And, yes, exactly as you say. They have ordered the valuation, good. But, I was told that I need to…

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1126
MissAlison
Sep 15, 2010 8:38 pm
Stressed
Stressed
20 September 2010

Builder having problem obtaining indemnity insurance

Builder having problem obtaining indemnity insurance

Thanks for the responses so far. We have signed a contract and it might not be so easy to get out of. As far as I am concerned they have breached it but trying to get…

4
700
Stressed
Sep 20, 2010 5:48 pm
fitnhealthy
fitnhealthy
21 September 2010

Sale of contract - Do you always have to pay 10% deposit?

Sale of contract - Do you always have to pay 10% deposit?

Thank you everyone for taking the time to respond to my question. It helps to be well informed especially when one place I went to look at 2 days after it went on market…

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1635
fitnhealthy
Sep 21, 2010 9:08 pm
foresterxt
foresterxt
21 September 2010

Bank valuation less than purchase price

Bank valuation less than purchase price

Hey Cookie Monster If you can find the $60k , this would make life some what easier (just to get the block settled). Then A. Ask the bank to revalue the block in 6…

12
2451
foresterxt
Sep 21, 2010 9:23 pm
6
1949
onebiggumby
Sep 22, 2010 2:36 pm
mel_mox
mel_mox
22 September 2010

Tender process?

Tender process?

Got a copy of our site tests today :-) Don't fully understand it but says m slab required which I know no upgrade! Great! Also says slight to moderate fall! Hopefully it's…

6
2384
mel_mox
Sep 22, 2010 10:32 pm
grace_slick
grace_slick
26 September 2010

SIGH - we can't get finance. Ever.

SIGH - we can't get finance. Ever.

Meh. Was passed in at $360,000 vendor bid after an opening bid of $300,000, one other bid of $320,000 and that's it. Our max price is $320,000. Blown out of the water I'm…

13
1689
grace_slick
Sep 26, 2010 4:29 pm
grace_slick
TazR
TazR
26 September 2010

Construction Insurance vs Home Warranty Insurance

Construction Insurance vs Home Warranty Insurance

From some research I have done, it seems that the Home Warranty insurance covers you when the builder fails to satisfy their obligations. So in the case of vandalism, the…

1
686
TazR
Sep 26, 2010 9:53 pm
Eoh
Eoh
28 September 2010

Capital Gains vs LVR & LMI

Capital Gains vs LVR & LMI

Good news. Our loan docs have been certified and we are going on sites pretty soon. Our LMI have also been adjusted without the 110% construction loading.

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1338
Eoh
Sep 28, 2010 6:04 pm
11
1015
Bam
Sep 28, 2010 10:37 pm
Bam
Bam
Bam
28 September 2010

Consequences of a second mortgage?

Consequences of a second mortgage?

We have a Line of Credit. Only thing to be cautious of is the higher interest rate.

3
661
Bam
Sep 29, 2010 12:19 am
Bam
jb_money
jb_money
30 September 2010

Financing options without enough deposit

Financing options without enough deposit

There are some lenders that allow you to refinance at 95% LVR (very few allow this these days). This would allow you to release funds as a deposit. The problem is that LMI…

3
882
jb_money
Sep 30, 2010 10:13 am
builda
builda
1 October 2010

invoice advice/whinge

invoice advice/whinge

Is your contract for staged payments eg: Base, Frame, Lockup, Fix and Final? If so, then those stages are as defined in the legislation in most states and my…

1
513
builda
Oct 01, 2010 5:23 pm
builda
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
634
jb_money
Oct 05, 2010 4:47 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
718
jb_money
Oct 05, 2010 4:51 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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2407
xquisite
Oct 07, 2010 9:29 am
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7790
xquisite
Oct 07, 2010 9:31 am
kexkez
kexkez
7 October 2010

Grant

Grant

done

2
578
kexkez
Oct 07, 2010 11:08 am
kexkez


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