I'd go with Terry's recommendation.

Cheers

Jamie

Hi Lila

Most the time the valuers that are appointed to carry out the valuation don't have a clue what LVR the loan is going to be – the info they're working off is how much was it purchased for (if a purchase) or how much does the owner think it's worth (if a refinance).

Cheers

Jamie

Hi there

Where are you located?

Do you prefer face to face or are you willing to deal via phone/email?

Cheers

Jamie

Hi Lila

I can't comment on where the $10k has gone because I have no idea.

It's probably not necessary to have offset accounts set up against each loan.

Generally speaking, you only need one offset and that should be linked to your non-deductible PPOR debt. You don't need offset accounts against each equity release – you can park the equity release funds back into the equity release itself and redraw later for IP purposes (hope that makes sense).

Cheers

Jamie

lol – a bit of a blast from the past.

Sydney's not too far from Newcastle – so I'd be heading south and seeing Terry W. He knows a thing or two about law….languages, pole dancing….the list goes on.

Cheers

Jamie

I agree with Derek.

It's important to be on the same page as your accountant and like Derek said, not all are created equal. 

An accountant that understands the intricacies of property investing (not just what you can claim and how gearing works) are quite handy to have on your side.

Cheers

Jamie

Yeah it's not uncommon.

Some vendors have unrealistic expectations. As a broker I see it a fair bit – properties that have been on the market for a while at an "offers over" whatever price end up selling for less than the baseline price they were after.

Cheers

Jamie

Hi and welcome aboard.

There's no wrong time to have a chat with a mortgage broker.

If you're not ready to purchase now, they'll be able to advise on what you need to do in order to be in a position to make the next step.

They'll also be able to explain the process to you and answer any questions you may have.

I don't actually see LMI as being a bad thing – it's a pain having to pay an insurance that protects the lender but at least it enables you to get the keys to your house sooner. 

Here's an article I wrote on taking advantage of LMI.

Cheers

Jamie

I'd be interested to hear Terry's take on this.

I'm not sure how verbal agreements stack up – but verbally quoting $4k and then doubling the cost at completion, without any justification, is obviously unreasonable. 

What sort of work was it?

Cheers

Jamie

Just don't leave that blue tape that freckle has mentioned on the wall longer than it needs to be – it's a bugger to take off if it's been there for a while. 

Cheers

Jamie