I'd take Shahin's advice – if you can afford the townhouse over the unit than it will probably make for a better investment over the longer term.

Cheers

Jamie

I think there's another drop due soon – not sure if it will be next month though.

Cheers

Jamie

Hi again

Don't just base your decision on a few responses to this forum. Consult some professionals in your area – ask real estate agents about how the market is looking (chances are they'll try anything to get your listing though), talk to your property manager about the state of the market and speak with your accountant about the taxation implications of selling. 

Cheers

Jamie

Hi and welcome aboard.

The refinance purpose is ok and the loan to value ratio is fine.

I can't comment too much on your borrowing capacity without knowing the finer details.

Owning an IP with another party will impact on your borrowing capacity – but some lenders will take into account the portion of the debt that you have (as opposed to the entire debt).

The $600 credit default may or may not be an issue – it depends on the nature of the default.

All in all, best to consult a profession on this matter and have them assess your borrowing capacity and delve into the credit default issue.

Cheers

Jamie

Good move Ian – keep us posted on how it all pans out.

Cheers

Jamie

Yeah it's a scary thought. I guess the good news is that they don't usually last too long.

Cheers

Jamie

Hi Belzgirl

I've got a couple of IPs with Real and can't complain – however I haven't had to make a sizeable claim yet.

I had to make a couple of claims with Youi and they were a little bit painful – but it all worked out in the end.

I've head AAMI is pretty good – and are quite prompt to pay out when needed.

Cheers

Jamie

Rick Otton's strategy is vendor financing – you can read up about it on this site and others.

Cheers

Jamie

Hi Spongy

What's the major factor behind the refinance to ubank? The rates might be decent but for multiple property owners they are rarely a good option. Their cashout policies aren't too crash hot and their loans are restricted to quite low LVRs.

Did your brother pay LMI on any of these loans previously? If so, an external refinance means he's relinquishing the previous premiums he has taken out with his existing lenders – so if he needed to take these loans above 80% again at some point, he'd have to pay a whole new premium with the new lender (as opposed to a small increase on the existing premium with the existing lender).

He also needs to tread carefully with the structure and avoid crossing and contaminating debt.

There's also quite a few costs involved in external refinances – they need to be considered too.

Cheers

Jamie

Hi alterego

Are you after a financial advisor or a finance broker?

Do you need face to face or are you happy to communicate over phone/email? If you're ok with the latter than your options are open.

Cheers

Jamie