Forum Replies Created
What a screwed up world we live in where you
have to offer people incentives to respect
another’s property.I think that I’ll try to steer well clear of
the welfare set.andy
Whoa Muppet, 85 basis points is a big move.
Bet you’re glad you locked them in when you
did.I locked mine in at 5.99 (AU) when I got them,
cost me $750 to do it but looks like I
picked the bottom, touch wood.Can anyone confirm what I’ve heard that when
the rates rise the bank has to cut me a
cheque if we refinance to account for the
difference between the current rate and the
fixed rate?andy
First of all, find yourself s decent mortgage
broker, there are some hanging around the
forum.They should be able to advise you which lenders
and products will suit your situation.Don’t forget to ask them to rebate you some of
the commission. There’s plenty of brokers
around so if one won’t another will.With your equity/income situation they aren’t
working too hard.andy
Maximus, you have it messed up. The $1,050,000
is a LOC, that means that whether borrowing against
the LOC or the new property interest will still
be payable.It doesn’t matter if Gus places a 100% deposit
funded by the LOC, a property yielding less than
the interest rate will be cashflow -ve.It’s all borrowed money.
andy
Don’t listen to the people who say it can’t be
done, it’s up to you to make it work.You can fix interest rates avoid the risk of a
rate rise.You can get landlords insurance which will pay
if you’ve got bad tenants and they wreck the
joint or skip town without paying.A property manager can organise tradies to repair
any damage.People have been succeeding at this game for
hundreds of years, being one of the chosen 10
wasn’t a prerequisite then, and it’s not now.andy
