Thanks for the wrap Nathan

I know it's mentioned every day but location really isn't an issue with most of these service type professions.

Jamie

Do you need face to face contact or are you happy to deal remotely?

If face to face, where are you located?

Cheers

Jamie

Hi Kade

You don't need to be restricted to professionals in your area – if you're comfortable in dealing via email/phone then you can use anyone from anywhere. 

Get your partner to grab a copy of her credit file so she can check if the default's been removed before you start applying for any finance.

Cheers

Jamie

Higher rate and some restrictive policies – one that comes to mind with Adelaide is cashouts at high LVRs are a nightmare…and I don't think they're even possible above 85%

Cheers

Jamie

Hi die hard

Sounds like it was a frustrating experience – what issues did you confront?

Do you have another PM lined up? If not – you might be able to get some recommendations for a new one on this forum. Just start a new thread with it in the subject heading.

Cheers

Jamie

Hiya xfitzyx

Just to confirm that I'm reading this correctly.

Are you talking out $40k against your current property to cover the deposit/costs on a $500k purchase?

If so – I doubt that's going to be enough to cover the deposit/costs unless there's some hefty concessions available to you.

Also look at the LMI costs with increasing the current loan above 80%, accessing more equity and borrowing less for the next IP. Your broker/banker can scope this out for you.

Cheers

Jamie

I've got FB page for the business.

It's not for lead generation – more so keeping clients/followers up to date with info that they hopefully find relevant.

I think it's effective if used part of a broader campaign – but used alone, it won't add much value to a business.

Cheers

Jamie 

No worries.

Just remember that Westpac is only one lender – so can only advise based on their own borrowing capacity calculator and cashout policies. Different lenders have different ways of determining your borrowing capacity – and there's quite a few that are better than Westpac in this regard.

Cheers

Jamie

No worries Ben.

Ask them specific questions about their cashout policy at certain loan to value ratios.

Also get them to check how your borrowing capacity stacks up when accessing equity and purchasing another property (assuming that's why you need to access equity).  The reason I say this is because most lenders who provide cashouts for property purchases (assuming that's the purpose) will want to make sure that your borrowing capacity is high enough (based on their own internal calculators) to purchase the next property (even if you're taking out the next loan with another bank).

Cheers

Jamie

Couldn't agree more Shahin. They provide such a basic snapshot without taking into account the larger, longer term picture. 

Thankfully that's why we'll always have jobs

Cheers

Jamie