Mortgage Insurance can be partially refunded, though only if the value has been reduced below 80% LVR of the original valuation within the first 12 months of the loan. So you will not be getting any money back, and why would the bank want to cancel the mortgage insurance, if you default, they get paid out and the MI company chases you for the…[Read more]

I would suggest either raising your budget or moving further out, perhaps buying a unit in Brisbane outer suburbs, or something in Adelaide may be more beneficial.Here is another topic with a similar line:https://www.propertyinvesting.com/forums/property-investing/help-needed/4338229

I would suggest just going through your insurance company. At the end of the day they are in the business of insuring against accidents, and will not absorb costs if they don't have to (ie: will chase the tenant if it is their fault). The sooner you let the insurance company know, the better, as they will be able to get an assessor to check…[Read more]

I am not overly familiar with Tennant Creek and I may be wrong, but as far as I am aware it is a very violent and unsafe area. I am currently living in Darwin and have had may colleagues and friends pass through there only to comment on how unsafe it is. Apparently the hotels have 24 hour roaming security, it is unsafe to venture out at night and…[Read more]

I have to say it sounds like a smart and sneaky investor ploy to push some out so that they can move in and reap the benefits… before too long prices go up again and people realise that it was wrong. I for one hope this stagnates prices for the next 3-6months as I am on the verge of buying another property and would hate to see prices jump just…[Read more]

Some people run "successful businesses" by being tight, and always trying to blame someone else, using stand-over tactics to try and get people to pay up so they can save themselves a few bucks.I remember when I was younger my parents rented a house from a dragon of a landlord, wealthy, well connected woman, the house had run down carpet, peeling…[Read more]

At the end of the day unless you are trying to make a quick buck, what you can afford to pay and finance today should be what you are looking at and not if price "might" got up or down, in the long term they will always go up regardless of short term rises and falls. If you can afford it today, you can still afford to hold it tomorrow, even when…[Read more]

This is not a stab at people who live in Penrith as it can happen anywhere, and I have several family members who live out that way, and they are all great people too. I would be wary of what areas you buy in out there as lower socio-economic areas will have a greater density if "scum" who will ruin your IP. Lets face the facts here, these people…[Read more]

Unfortunately I doubt you will be able to blame your solicitor, for one he may be crap but I doubt has broken any law or duty to you which would open him to being sued. Secondly solicitors don't like to sue each other very often (unless they are the one suing not on behalf of a client) as they like to protect their own, it keeps themselves safe…[Read more]

Slightly off topic of accountant costs… these spreadsheets people are talking about, are they just home jobs banged up, are they professional ones you can download somewhere, or are they software generated? (Financial programs)CheersJohn

Id say with the current "housing crisis" that Australia is experiencing you have bucklies of stopping the development, and the legal costs to try would be enormous. I'd suggest petitioning your strata or local council, and suggest they put a give way or stop sign in near your driveway, so that the new residents have to give way to you. If this…[Read more]

Whist is isn't that common in housing anymore if you want to buy an older house to renovate, be careful it doesn't contain any asbestos products. Whilst these homes are perfectly safe to live in (or so they say) any renos or building works that will disturb the asbestos can be expensive.

The only situation I can think of that would fall into this category of a "short notice situation" without knowing it was going to happen (as most people can usually see what is going on up ahead or can just refuse it) is someone in the military. If you friend is in the ADF and has had a short notice deployment or posting and has been required to…[Read more]

To throw a spanner in the works, my actual loan is with Adelaide Bank, however is through Australian Mortgage Options. They arent the best people to deal with as most of the time they are just a relay service to AB yet I still have to do everything through them.The NAB loan is staying as is it is everything else around it I am wanting to change.I…[Read more]

HmmmI might just keep them separate, as the second property, being our PPOR, is a good one for sale if the price is right (further down the track). Plus I want it to be a quick sale, as my strategy for that one if we do sell it, is to reinvest quickly somewhere where prices are lagging behind, so I might keep it with NAB and go elsewhere with the others.

To clarify, my PPOR is still the second property, as I have relocated due to work reasons, and am renting the property out while I am away (which may be quite a few years :p perfect for me though).The loan on this property is a special loan through NAB and my employer and it MUST be P&I, however this is fine with me.The First loan is/was IO (just…[Read more]