Hi Sabina

For some people, buying sight unseen isn't a problem. For others, the idea scares them.

I don't personally feel the need to inspect a property myself but if I was to purchase unseen, I'd still want trusted professionals to scope it out for me which could be a combination of a buyers agent, building and pest inspectors. 

Different BA's have different pricing schedules and services on offer. If you could find one that will inspect on your behalf, then that should provide some reassurance.

Which particular areas are you considering?

Cheers

Jamie

Hi Mark

Is their scope to add value? Could you possibly carry out some of the work yourself to add value at a lower cost?

Are there similar properties to yours that have been renovated in the area that you can draw a comparison from to get an idea of the sort of value you could add with particular renos?

Cheers

Jamie

Hi Sarema

Welcome aboard.

Assuming the reason behind the refinance is to purchase your new PPOR then the short answer is no.

Tax deductibility is determined by the "purpose" of the loan – what are the funds being used for?

If you're refinancing your current PPOR loan to access funds for another PPOR purchase – the purpose is private use and therefore won't be deductible.

Sometimes there are ways around this – such as a spousal transfer or sale to another entity but they usually come at a cost. It's just  a matter of weighing it up in terms of the benefits.

Cheers

Jamie

It's interesting to see that graph because it feels very similar to 2009 from where I'm sitting. Rates have dropped to 5%, FHB's seem to be moving back into the market and investors with equity are buying up. 

Cheers

Jamie

Tread carefully – it might look like a good deal on the surface but could potentially cost you heaps.

I take it that a pest inspection came up with the finding – do they have an idea of the extent of the damage and likelihood of it getting worse? Have they provided an idea of how much it will cost to rectify? If you get serious about the purchase – perhaps get a second inspection done by another company just to make sure the advice is accurate.

Cheers

Jamie

Tough one to call.

ANZ jumped on board the 4.99% 2 year fixed wagon today.

Cheers

Jamie

No worries.

Cheers

Jamie

The discounts on their SVR is quite poor – and they haven't been very competitive in that space for a while.

Anyways, 4.99% seems to be a bit of a bench mark now – let's see how many others follow.

Cheers

Jamie

It makes a huge difference. Clean, modern and uncluttered. 

A family member recently done something similar in Canberra when privately selling and they ended up getting a fair bit more than they anticipated – even the valuer gave praise!

Cheers

Jamie

I think there's a common misconception that you must have all your loans with different lenders to avoid cross collaterisation.

This isn't the case. You can have multiple loans/properties with the same lender but keep the structure clean and uncrossed.

Whether this is ideal for you is anyones guess – everyone's circumstances are different.

Cheers

Jamie