Jason, who are these guys? Please provide more info….Nicholas

G'day Samson,If it was me I would be putting the cash in the offset account, as you said you are saving 5.94% interest on the balance and have instant access to your cash, however putting the money in the term deposit means you will pay income tax on the interest made and have to wait to draw out your money.Food for thought.Nicholas

Hi Bronte, your bank will value your property and lend according to their valuation. If you intend to borrow more than 80% of the value you will have to pay LMI. From what I understand most lenders will only lend as much as 95% of the property value.If you go with another bank for the second property, the new bank will only assess the value of the…[Read more]

Hi Bronte,I'm a little unsure about what your after however is this right?:Your PPR is currently at 86% LVR.You want to buy another property for 524k and borrow the whole amountYou have 40k cash to help with costs.If you borrow 95% of the cost of the new place (from a different bank), your 40k will go most of the way to cover LMI and stamp duty.…[Read more]

Forgive me for being a little naive but the math for the 10% from AW isn't making sense to me.If the value is 900 and to prevent paying LMI the total equity available would be 80% of 900 ie 720less the outstanding debt of 420 = 300kShivasko's share is 10% of 300k = 30kPlease point me in the wrong direction if I have calculated this wrong.Nicholas

Thanks guys, I have had a look at their website (amongst many others) and will be getting in contact with them.Regards,Nicholas