Hi Michael,

I am currently with REST. Does that mean I have to rollover to a new super fund that can accommodate those insurance ? I do not know actually how it works technically. With REST, if I can recall, they also offer insurance, maybe I just need to increase the cover amount.

Ferdinand

Terryw wrote:
The price will vary depending on you age, whether you smoke, health etc

Your personal information
Date of birth: 1984
Gender: Male
Medical conditions: None
Income: 57500
Household debt: 430000
Have you smoked in the last 12 months?: No
Have you ever been declined life insurance?: No

I’ll do that if they cannot do it. But I got a call from the solicitor, he said, it can be done tomorrow the report, but might be verbally tomorrow then they will give me the report soon after that.

I have confirmed with the broker, the finance should be formally approved today. Within hours he will let me know.

My only concern now is to ask my solicitor to organise a building report which can take upto 3 days. But I asked him to find a way to get it done tomorrow, which I don’t know he can do it or not, still waiting a call from him. That…[Read more]

Hi Michael and Terry,

Thanks for replying

There was no problem with the loan. Tomorrow, my broker said, bank will give unconditional approval. Bank also values the property as very low risk property.

I read the sale contract again and all the descriptions from the council, nothing is worrying. Not affected by any hazard risk. My solicitor…[Read more]

Guys, will appreciate a lot if someone can give an answer to my questions
1. My solicitor did not tell that I should order building report prior to paying10% deposit (expiration of cooling off period),is it normal? I decided to get it ordered tomorrow.

2. My solicitor said will do the title search later near settlement day, is it normal? When…[Read more]

Hi Terry,

It is different solicitor, his full fee is $1,200. For me saving $450 at this point is very important as my money drained for the deposit. And most of the FHOG is to pay Stamp Duty on the property. I appreciate Michael’s swift response as I only emailed him yesterday afternoon, hence feeling not that good but IMO, the word “ditch” is…[Read more]

Hi Michael

Sorry to inform you, that I likely to accept an offer from a solicitor who will charge me $750 fixed fee all inclusive if I use mortgage broker he refers. I apologise if you have done some works. I hope I still can ask some questions if I am unsure about smth.

Regards,

Ferdinand

Terry,

If I am going to ABC Lawyers doing conveyancing service for me, should I expect better service than if I go to ABC Conveyancer ?

Standard one will do Terry. I am about to do a plain purchase. Someone quoted me $1950 + fees.

$990 all inclusive, is it fair price for a conveyancer charge?

Can anyone recommend me a cheap/standard conveyancer in Sydney ? Thx

My understanding, I will still be able to get stamp duty concessions (up to $500,000 = FULL, will fade out till $600,000) and $7000 FHOG, is it correct? I am in NSW

Is it true I will not get FHOG if I buy in July ?

I am back from my big day. Can anyone recommend me a book that can explain steps purchasing first home? I am about to buy my first home next month, yet unsure steps to be taken.

Jamie M wrote:
I’m happy to recommend them to my clients and they’re happy to offer my clients a discount

Cheers

Jamie

Thx Jamie, I am now considering DIY Conveyancing, I haven’t done it before, but one of my colleague said it is not difficult.

To Michael,
Previously I said that I reduced my credit limit, but I forgot to mention that I had…[Read more]

I read a magazine, conveyancing fees can cost $1,000 to $2,000. That is pretty big range in my opinion. How much is standard for conveyancing fees? And if it is just a basic purchase transaction, how much it will cost ?

Shape wrote:
Sounds like you got much more exiting and important things to think about then a pre-approval….

Congratulation on the wedding!!

Just make sure you get a loan before you start poping kids ( they can be a killer in any approval) ahah

Congrate again. Where’s the honeymoon? Good aus dollar now

Regards
Michael

Thx Michael. Kids…[Read more]

Shape wrote:
Bank normally ask for last 2-3 statement for Credit card…so depending when you submit the loan- you might have one statement stating $31,000 and the another $12,000 – conflicting.

So:
1. it depends when you submit the loan
2. Even if you submit now- would be beneficial to declare the higher credit limit ( since you can afford it…[Read more]

Shape wrote:

using tour credit limit of $31,000- Please what ever you do …do not lower your limit at this point- Banks will suss it out.)

Thx Michael. What is the reason for that ? I actually already paid off some credit cards and closed them in last 3 weeks. Now my combined credit card limit with my fiancee is only 12,000 and debt 7,500,…[Read more]

Thx Angelin, indeed we will just do it, but we are aware that we need to plan carefully as we have never had mortgage before, and the purchase will absorb all our money, we want to make sure everything is right from the beginning.