Hi Xodiac.So the house you live in in bris is your PPOR. that means your 240k loan is not tax deductible.Your Cairns IP loan should be tax deductible, well the interest component of your repayments, anyway.What would make sense is to switch the Cairns IP to an IO loan, and the reduction in what your repayments are, channel that surplus $ into your…[Read more]

Thanks for the feedback. Gibbo- not likely to be extended (maternity leave contract), that said though she knows the end date and will have another job lined up to ensure no down time. We would have a contingency in place to be able to afford the loan but the banks don’t seem to take any of that into account.

Megs, thanks for that info, I will…[Read more]

Update: We applied for the St George No Deposit (Quick Saver) loan, they came back saying we can easily service 390k loan based on our incomes etc,we only asked for 300k.  but as my wife works in the Government on a fixed term contract, even though she gets paid by the government and not an employment agency and gets full annual leave, pub hols…[Read more]

Thanks for the feedback guys.Is there any solution to this problem like going with a specific lender (even with a slightly higher interest rate), or anything you think we could do other than postpone purchasing?We have both been in the same line of work (finance/admin) for the last 4 years with minimal breaks between employment- will any lenders…[Read more]

Hi TerrywThanks for the reply. 12 months is going to be hard press, my wife is in a Government temporary position which only has a duration of 6 months, I am in full time permanent employment (well,a 2 year contract)…based on this is any lender going to come to the party or is it going to be like trying to find a needle in a haystack?Thanks

anyone have any ideas? surely someone out there does….???  

anyone?  

from what i understand if they are selling it 'as is' means you need to do your own due diligence, make sure the stove works, ceiling fans lights powerpoints heaters etc because when u move in if it doesnt work and you didnt check it then your taking on all the problems the property has because you bought it 'as is'.i think they include this in…[Read more]

anyone?

yeah i know what u mean, real estate said 5% or 10% deposit. 'thats the way we do it'. so just had to deal with it.i couldve stood my ground and negotiated a lower deposit but given there was a lot of buyers we had to make our offer as attractive as possible.thanks everyone   

great, that seems to make a lot of sense. i must check with the bank they have no daily limit on outgoing transfers – be good if i can avoid the time and cost ($20 fee) in having to get a bank cheque,, thnx for ur reply

also, im not sure if agents/vendors will let you do a conditional contract,, if they refuse to should i try and get a 14 day cooling off period in the contract to allow sufficient time to get a pest building and bank valuation,?? any one have any ideas? this is in NSW. if its a cooling off period, can the vendor pull out or is it only the buyer…[Read more]

Ahh ok, are you able to give me an idea of some lenders with a rate around 7.5% (if it exist anymore) which use PMI? or should i email you to discuss further?cheers

Hi Guysthanks for your help, ive given up on that area as I dont think the resale values/growth is good enough to warrant a purchase.I spoke with the teachers credit union and they told me the LMI company they use is GenWorth. They said they pretty much wont insure a mortgage unless the town has over 2,500 population. We are looking at small…[Read more]

Qlds007 wrote:
Checking the post code it appears acceptable with the right lender.

Hi there,thanks for your help, should I be trying a mortgage broker now to try & find if there is anyone willing to lend me the $$, can brokers get you pre-approval from their lenders or to get pre-approval do you need to go direct to a lender?or should I just…[Read more]

The town is Goulburn NSW, there are a few project home builders operating in the area- Beechwood Homes, Huxley Homes, Eagle Homes, Allworth homes is about all I think.

I have looked at the cost of brand new houses in the town, there are some 4brm DLUG/ens for $295,000, & Huxley homes was recently advertising house&land 3brm ens in a new estate…[Read more]

Is this for NSW or just in general??

If you negotiate and agree on a price before you have done the inspections, and they bring back something unfavourable like i dont know termites, are you able to negotiate the price down further to allow for repairs or is it too late to do this?

If you pull out of a contract within the cooling off period…[Read more]

While we’re on the topic, does anyone know roughly what it costs to get Ducted Gas Central heating installed in a house? (Natural Gas)

I’ve rung a supplier who’s told me that the units they sell cost about $2500 but couldnt give me an idea on the actual install costs or ducting costs etc.

I would imagine it would be somewhere in the vicinity of…[Read more]

Surely someone must have an idea of the process of buying a house in NSW???

Thanks !!

Thank you for replying

I’m pretty sure he could get finance, he’s actually only 50 years old but I think he hopes to retire by 55 – 60 yrs old. So not sure what the banks would think of that.

Investing style I think he’d be looking for something thats going to return a good amount of money with minimal fuss/attention from him – so he would have…[Read more]