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  • Profile photo of CaboSanLucasCaboSanLucas
    Participant
    @cabosanlucas
    Join Date: 2008
    Post Count: 6
    Profile photo of CaboSanLucasCaboSanLucas
    Participant
    @cabosanlucas
    Join Date: 2008
    Post Count: 6

    Maxxi

    I turned my owner occ into an IP recently, so i am renting now and will continue to rent in the future. i realize i may not be in the best position at the moment to purchase but i want to in the next 6 months. i realize all about the economy and market etc.. but also believe it's a good time to buy in sydney. i'm not one to sit around and wait…

    i have llimited equity in my current IP but have some money tied up in the sharemarket i can utilize at some stage…

    taking all the variables aside, let's say i had plenty of equity in my existing property and servicing wasn't an issue. would i finance it the way i originally stated? with 2 stand alone properties and 2 LOC's?

    many thanks
    Cabo

    Profile photo of CaboSanLucasCaboSanLucas
    Participant
    @cabosanlucas
    Join Date: 2008
    Post Count: 6

    guys, RAMS and RHg are completely different lenders now. RHG is loan book with existing customers which takes in no new lending. everyone talking about existing loans with RAMS are only with RHG now, they are completely different entities. Here's a tip, Those looking to get out of RHG can refinance to RAMS (now funded by westpac) , just go to a RAMS franchise, and you'll get part of your ERF's waived. i think it's $2500 for a $350k loan and 20% saving on LMI. i know it's not huge but better than nothing…non-banks provide competition and competition is good, i don't want to see the non-banks go…

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