You can ask the lender/broker to request a full valuation instead (that's assuming your actually lodging an application). Depending on the lender, they might allow the broker/banker order the valuation up-front. If neither of these options are available you could always pay for a full valuation (however, this won't be accepted by the lender and will be for your own info).

Why? Valuations cost banks money – if you've got 20% equity in the purchase then there's little risk for them. I wouldn't say lending criteria is overly tight at present – banks are wanting to do business….albeit with the right clients.

Cheers

Jamie

A good broker is personable, has a sound understanding of lender policy/procedures, a good working relationship with lenders, loan structuring, good attention to detail, honest, ethical and efficient. In my mind, it's something that's not provided in a course – it's experience coupled with personal attitudes/attributes. 

Cheers

Jamie

If a valuer didn't physically inspect the property then it was either a desktop (RP data, etc) or a kerbside.

It all comes down to the security type, location and LVR – for some purchases, a contract of sale will suffice.

Cheers

Jamie

The broker is responsible for submitting the correct information and supporting documents. It's in our best interest to get this right the first time because it can result in additional info being requested and the deal being placed back at the end of the cue (frustrating for all). Therefore, a lot of the burden should rest with the broker.

However, there are certain banks where stuff ups at their end are constant (faxes go missing, loan docs aren't sent, etc) – there's a few that I don't even bother dealing with any more because the process/experience is too painful for everyone concerned.

There are also times when the application goes belly up because of the client as well. There's nothing worse than having a deal be knocked back because the client has a default on their credit file (whether it be known to them or not) or they haven't been upfront with all of their liabilities, etc.

Cheers

Jamie

Herron Todd White's month in review is fantastic – http://www.htw.com.au/Newsletter/

Cheers

Jamie

Hi there

Always good to see a fellow Canberran on the forum.

There's a group of people who get together at the Canberra library once a month – there's usually a monthly reminder post. If you do a search you should be able to find the last post and subscribe to their facebook page.

Cheers

Jamie

Hi there

Speak with a good accountant.

If it's a once off and easily identifiable – then I can't see why the interest on that portion couldn't be claimed. However, I'm not an accountant so would recommend you seek professional advice.

With the offset – you don't lose the redraw facility. You just stop using it – and use your offset account instead (ie. you don't swap the redraw facility for the offset account, you'll just be left with both).

Cheers

Jamie

Amen – it happens all the time. Trying to save $20 per month on a 0.1% lower rate but wrong lender can end up costing a lot more in the long run. Not saying that's the case here but the "lowest rate" shouldn't be the number one concern when looking to purchase multiple properties.

Cheers

Jamie

Here you go http://www.passgo.com.au/blog.html

We try and update it when we have a spare moment.

Cheers

Jamie

I usually use Real Insurance – they let us self manage, seem reasonably priced and the service so far has been pretty good.

Cheers

Jamie