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Jamie Moore
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@jamie-m
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Post Count: 5,069
October 28, 2013 - 11:48 am
Scott No Mates wrote:
Henry Adams wrote:
Hi All,
Does anyone here know or have the list of Property Spruikers in Australia or Sydney in general ?
Cheers,
H
Basically anyone who invites you to a free seminar on PI, +ve CF, buying property in super etc and then having a list of properties to choose from or roping you in to buying some expensive mentoring/education course.
Scott has summed it up nicely. There's plenty of these companies popping up too – and there's bugger all (if any) regulation of the industry which is quite scary.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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Post Count: 5,069
October 28, 2013 - 11:46 am
No probs – it's called iLend. It's handy for multiple property/complex deals. Maybe hit them up for a free trial.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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October 28, 2013 - 6:43 am
Hi Henry
Just do a search on any particular companies that you're concerned about – chances are they've been asked about on the forum before.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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October 27, 2013 - 9:10 pm
Mgs4 wrote:
Normally do mortgage brokers have websites or PDF docs with loan comparisons on key metrics eg interest rates, annual fees, maximum LVR etc. As loans are relatively commoditized products the main variables are total costs (ir, fees etc.) and ease of application (LVR and other relevant constraints). The tricky thing I find is brokers can access different rates to what the average person can, so using online comparison websites often isn't on accurate comparison if your going to go through a broker.

Yep. We use two different software programs – one is via our aggregator and the other (which is subscription based) from a third party provider is for assessing more complicated scenarios. All produce product comparisons, etc. Most brokers offer this as standard.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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October 26, 2013 - 6:03 am
Usually you do. Which state are we talking about?
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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October 25, 2013 - 9:32 pm
Hi Kirb
The prob you face is that you're restricting yourself to the one lender so you're at the mercy of their policies. Speak to a good finance person about your options and you might get a different result.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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October 24, 2013 - 9:01 pm
Terryw wrote:
darkness72 wrote:
Thanks for the advice,
Goes to show – speaking to the ATO over the ph – they're not always right, would want it in writing
Good news – The bank has come through with a deposit loan – so no mixing – woohoo
ATO phone people are rarely correct!
It's scary isn't it.
You wait up to an hour on hold to be given incorrect information.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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Post Count: 5,069
October 24, 2013 - 9:00 pm
Catalyst wrote:
Hi, depends on the size really. Supply only from $1000- $3000 (one was huge). I get the cupboards assembled. I hate assembling things. They will install for a good price.
Arghhh – this just reminds me of how expensive Canberra is. I'm getting a new kitchen put in my PPOR at the moment – and I need to add another "0" to what Catalyst pays. Admittedly – it's for a PPOR so we're not doing it on the cheap.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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October 24, 2013 - 1:17 am
You're using cash for the deposit so won't be deductible.
Try using a deposit bond for the deposit.
p.s – sounds like these loans could be crossed.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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October 23, 2013 - 11:25 am
The last client I had who self conveyanced regretted it a lot!
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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October 23, 2013 - 11:23 am
Talk to Sam at Qura http://www.qura.com.au
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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October 23, 2013 - 11:21 am
dragun wrote:
I've read a number of books and articles that say you should always at least ask the question to a prospective broker whether they are willing to refund a part of their commission.
Without sounding rude – I'd politely decline the business.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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October 23, 2013 - 3:08 am
Mgs4 wrote:
Does anyone have some recommendations on research and questions you should do to see if you have a good mortgage broker. The reason I ask some of this is there is obviously a scope for a conflict in interest in the mortgage broker recommending certain banks because he gets better commission, where we may not know of superior rates/process with another lender that may not give the mortgage broker as good a comm.
I don't know of any decent broker that will steer you towards a bank that pays a higher commission. That sort of behavior results in businesses closing down – they're not acting in the clients best interest so they won't last long in the industry.
For what it's worth – the vast majority of lenders pay the same commission. As Michael mentioned – it can fluctuate by a little bit.
Some of the non-conforming lenders pay more – but it's not the sort of business I'd personally want to write.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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October 22, 2013 - 8:20 pm
Hi Rudra
The implications is that it can be more expensive for an IP in some states. Secondly, there will be some CGT implications – I'd assume it will be applicable for the duration it's an IP. Lastly, I doubt you'd be able to claim the stamps as a deduction in QLD (you can in the ACT) – you'll probably find that it comes off the cost base when selling the property and working out CGT.
In any case, speak with an accountant before purchasing.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 22, 2013 - 8:16 pm
Mgs4 wrote:
Just a general question on mortgage brokers. As you build a portfolio and provide a mortgage broker with more business, do you sometimes get other benefits like commission rebates or access to better rates than smaller clients. Do most investors with large portfolios on the forums use brokers? From what I've read it seems that if you maintain all your finance with one bank, because of the greater concentration risk to the bank they'll put greater constraints on your LVR, whereas if you spread the finance across a few banks you get greater LVR across the portfolio. Have others found this as well?
Thanks.
I treat all my clients the same too – irrespective of how many properties they've purchased. I've never had an existing client ask or expect a commission rebate – if anything, I've been told I should be paid more for my services!
A good broker will work with you throughout your investing – deal with someone you can trust, is responsive, knowledgeable and easy to get along with.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 21, 2013 - 11:54 am
jmsrachel wrote:
I am about to start renovations on an IP which is due to settle early December. My budget is $6 to 7K..
I wish I was handy
I'd be lucky to get a new deck in my PPOR for $7k.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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@jamie-m
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October 21, 2013 - 11:52 am
lachmorr wrote:
We are planning to purchase an investment property from our daughter. We will pay the current market price (to help her finances). We are taking out a loan against our home to finance the purchase. Both parties want to minimise costs as much as possible.
Do we both need to engage a solicitor or could we do our own (property is a unit in Qld – body corporate is involved)?
Do we need to complete a full contract of sale?
We welcome any helpful advice we can get.
Hello and welcome aboard.
I would recommend using a solicitor – not just because of the legal aspect but it will also save you so much hassle when dealing with the banks settlement area.
You'll need to get a contract drawn up.
Be careful with how the loans are structured. Chances are your current banker/broker will try and cross the two properties up (which is good for the bank – not so good for you).
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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October 21, 2013 - 11:48 am
You can find a lot of the info online – http://www.onthehouse.com.au/ is a good start.
Most brokers provide reports to their clients too.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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@jamie-m
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Post Count: 5,069
October 20, 2013 - 9:27 am
Hi there
Welcome aboard
No need to arrange your own valuation – the lender that you go with will likely carry out there own.
If you'd like a full valuation carried out for your own peace of mind – just let your finance person know, we can order them upfront.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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Join Date: 2010
Post Count: 5,069
October 17, 2013 - 6:37 pm
Also not an accountant but I assume they'd want confirmation that it's been paid – an invoice/payment request alone doesn't show that.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]