Total Members: 159,401

dgabriel

  • dgabriel replied to the topic is this a trick? in the forum Help Needed! 16 years, 4 months ago

    Thanks RichardYes I already got my broker to that and the valuer wouldn't budge an inch. What got me most mad about it was not the value itself, but his reasoning behind it. I went as far as to forward a few similar properties that sold in the area recently and he came back with "these properties are not comaprable as they are a minimum 100sqm…[Read more]

  • dgabriel replied to the topic is this a trick? in the forum Help Needed! 16 years, 4 months ago

    Terryw wrote:
    I don't think Westpac have a policy of instructing valuers to under-value property either!

    So why the big difference in value then?$30,000 is a lot when they are only putting a value of $245,000 on the property wouldn't you think.

  • dgabriel replied to the topic is this a trick? in the forum Help Needed! 16 years, 4 months ago

    Thanks for the reply. Could you recommend any institutions that charge a fee instead of LMI? I haven't heard of any..Just a little more info, the property I own I still owe 182k which gives me $26,250 ( (245k x 85%) – 182k) or $38,000 ( (275k x 80%) – 182k) in redraw respectively between Westpac or NAB as in my previous post.Could anyone recommend…[Read more]

  • dgabriel replied to the topic Loch Sport – does anyone know anything about this area? in the forum Help Needed! 17 years, 1 month ago

    Hi,I bought a block of land at Paradise Beach (next to Golden Beach) in 2002 for 10k, recently valued at 50k by the bank so I am happy with that. I really like the area too, my block is only a few minutes walk from the beach. I hope to build a holiday house there one day, great place to relax and go fishing. I haven't heard anything about the…[Read more]

  • dgabriel replied to the topic Which property should I pay off first? in the forum Help Needed! 17 years, 1 month ago

    Thanks for the help guys, really appreciate it. I will definately be looking closely at changing the loan to be IO.Simon you are right, my next purchase could be a PPOP, so in that case won't pay down the IPs. However if I was certain that my next purchase was going to be another IP or possibly some shares, would it be in my benefit to reduce the…[Read more]

  • dgabriel replied to the topic Which property should I pay off first? in the forum Help Needed! 17 years, 1 month ago

    Thanks for that duckster.I forgot to mention that my bank is also holding a block of land which I own out right as security which is valued at $50,000. If you throw this into the calculation my LVR would become about 79% so maybe I could just squeeze in for a line of credit loan. I will have to investigate this further as you said.However the…[Read more]

  • dgabriel replied to the topic Looking for refinancing suggestions please.. in the forum Finance 17 years, 1 month ago

    Hi Lia,I am looking to improve the structure of my loans so I can purchase another investment proprty in about a year. I have been considering changing my loan of $183,000 that is currently P&I to be IO. I have enquired with Bankwest who the loan is through and it will cost me a $350 one off fee and $12 p/m account fee to have it fixed at 7.99%…[Read more]

dgabriel

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