Hi Greg, Thanks for such a detailed response, are you a Mortgage Broker yourself? Based on my current calculations, the rough figure of 350k is based on similar property’s in the same area, I have received quotation from a property valuer to get a more accurate number at a cost of around $500, does this sound reasonable? The other costs I need…[Read more]

Linar wrote:
Having said that, it is not quite so simple.  Assuming the house is valued at $350,000 on completion, and you have a loan of $224,000 against that property, you would have 56K equity as a bank will only lend up to 80% LVR. K

Thanks everyone for you comments, This is the part that throws me, your saying that i can only lend 80% of t…[Read more]

Looks ok to me, I’m a geotechnical engineer, what company did you get the quote through?If you got it through a large Engineering company i would recommend getting a second opinion from a smaller company, I work for a large company and know that these 'little' jobs get marked up due to the hassle of it being small.Cant help you with the s…[Read more]

Thanks for the reply  K,The loans will be serviced by both myself and my partner with combined income of around $120k. Would it be better to have the first IP under one name (mine) and the second under my partner’s name?Does the bank consider income from an IP to be contributed as a method of serviceability? or is it just based on your wag…[Read more]

The Entrance North, NSW Central Coast

Hi karlm63,I am also looking for an accountant on the Central Coast, have done a bit of research and was thinking of giving Freeman Kennedy CA a call to discuss what the offer/experience. I will let you know how it goes.Cheers,Julian 

Thanks Richard,We were thinking that we are a bit short at the moment, just trying to set a savings goal and work towards that. Plus that will give us time to research and read forums like this one. I can't see it being a bad thing.

Thanks for your helpCombined income of $110,000Current savings at $15,000, both of us are first home buyers.Thanks