Thanks Jaime and Richard,
I will be getting advice asap. 
Would it be worthwhile trying to refinance simply for a better interest rate? Currently on 7.5 with non traditional lender.

Thanks for the feedback..
I was hoping to refinance in my name only so we have more options at a later date. I have been on parttime work until this week so effectively my income just doubled hopefully enabling me to refinance as on 25 thou im pretty sure no one would touch me.
My husband earns 3 times his weekly employee pay per weekend but it…[Read more]

Such an interesting post. Thank you.
I much prefer to hear from the horses mouth than believe the media.
Also like to hear good quality discussion on these points and various differing views.
Very interesting.

Hi Ozlat,

If your happy to wait your credit file is free through Veda just takes a bit longer also from someone with previous bad credit history (minor but hubbies wasn’t) sometimes getting the report is a relief as you know whats in it, how bad it really is and what to start fixing eg pay if not paid and have noted as paid.

Best place to start…[Read more]

how difficult is it to do everything needed with a broker out of town?
No good brokers in my town and i prefer to use a broker.

Hi, Thanks everyone for your advice.
Regarding the 50k this is made up of a few things not just my deposit so my portion will be finalised soon. As this is under mortgage we were trying to roll into one loan for ease of payment using the ipp as security and will therefore look more closely at equity use and having an offset account. I was not…[Read more]

Hi Richard,

Valuations were more of a concern for deposits going forward than anything else.

Is it not possible to buy and hold future properties without using a trust type setup? Does this limit the flexibility?
We are still researching how to go about all this as you can probably tell by my niave questions, our main concern is being able to…[Read more]

thanks everyone,
well broker said no prob to get started.

wecan put three names on mortgage mum,dad, me, borrow up to $300000 depending on valuation of our homes which we valued conservatively and use equity from dads for dep etc, everything we were hoping for to get started other than it seems moving onto house number two will be difficult as…[Read more]

p.s noneedforreno $ deposit is all we are really after

I do recieve part b family payment for two children,youth allowance for the 16yr old.

father, mother (carers payment) and myselfwouldbe on the mortgage with my contribution being equity only.

let youknow how we go with broker today

Thanks Richard,

I was intending to borrow the minimum dep required on a $139,000 unit from my equity as my contribution and use dads income for repaying the loan. Both names and combined income would be on the loan therefore helping serviceability and getting us both into our 1st IP.

We are seeing a broker today so we’ll see how i go but dad…[Read more]

great!

all that equity is no use then?
I am married by the way though would not be putting husband down due to bad credit rating and my name only on mortgage/

ok,
paul and richard, thanks for the info, i’m guessing this needs settingup 1st?
is there no way to just put our names on the mortgage and agree on what each other adds to the deal?
As it’s our 1st and we need to move quick?

thanks for the feedback.

we’d definately be buying with the ip being the security. Looking at using equity from my home for deposit with father paying any mortgage difference, maintenance etc.
just not sure how we make it a fair deal for eveyone involved?

clarify the above. buying one 2 bed unit in a block of four.