Forum Replies Created
Hi Paul,
The setup at the moment is the St George portfolio LOC home loan and has already got sub accounts attached which is standard for this type of home loan setupCheers karlm
Hi Terry,
Thanks for the reply, just one more question, if I am allowed to do this the funds that I use would be a deduction is this true ?
Why cant you people pass the full amount on to your loyal customers?????????????????????????????????????????????????????
Then again you were all quick enough to raise them out of sequence with the reserve bank now they are lowering the rates it takes you an eternity to lower them.
Must be making a pretty hefty profit ????????????????????????????????Qld007
Hi Mate,
Just sent email with the info you asked for.
Any more info please dont hesitate to email please.Thanks again
karlmHi Mate again,
What sort of figures and I will send them if you like !!!!!!!!!
That email at the bottom of your post is it alright to send you the info on that.!!!!!!!!!
Thanks karlmHi Duckster,
Thanks for the super quick response.
I only just a few minutes ago put that post there !!!!!!!!
Yes I have a depreciation report done.
The IP is an I/O loan.
My last accountant said it was not worth worrying about but the next accountant might think otherwise.
I work for the gov and my tax for that particular job is between $1000 – $1200 per fortnight.
I am looking for another tax accountant as my normal bloke lives at Peakhurst and I live at Gosford on the Central Coast someone local would be good if possible.
The 07/08 financial just passed we have payed out approx 20K.
That includes I/O repayments
Management fees
Rates and Water
Telephone
Repairs and Maintenance
Insurance
Etc
With that formular you posted earlier is that how it works with tax refunds.
I dont know if this IP is pos or neg, how is it worked out?
Thanks karlmHi Duckster,
Just reading your post for Katies007 that is interesting because we are in the same boat and could I get in contact with you for further dicussion on that particular subject please.
Thanks karlm.hi,
Thanks Elka
Hi spudsta,
If you have a look at realestate.com.au then go to the link for the RP Data free suburb report and then enter a poscode.
Thanks karlm63Hi all,
Yeah just tried to load that site and it does not load up !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Be very careful please
Thanks karlmHi all,
Just reading your posts and comments about the above topic.
There is a lady down the road from where I live and she and her 2 kids went for a home loan.
They are buying the house that they live in (ppor) for $190,000.
The 2 kids work but the mother does not as she is on a disability pension.
One of the kids has got a $38,000 debt which includes 1 credit card and 2 car loans.
They did not tell the bank about any of these loans and still got the home loan !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Just goes to show that some banks will lend to anyone !!!!!!!!!!!!!!!!!
By the way the bank in which they dealt with was RAMS.
Say no more.
ThanksHi qld007 and terryw,
The problem I have at the moment is that if I refinance with some one else I incur break costs of between $6000 to $6500.
I have just found out that if I break within 4 years that is the penalty !!!!!!
I am so frustrated about the whole dam thing !!!!!!!!!!!!!!!!!!!!!!!!!!!!
I do not know anymore ??????
Thanks karlm63Hi Barbara,
I dont think a LOC is that bad !!!!!!!
I have one and is split one for investment purposes and the other is for personal purposes.
After saying all of that and enquiring on this forum the majority are saying a 100% offset is the go !!!!!!!!!!!
Would you keep us informed please.
Thanks karlmHi Condog,
That post you put in about the land content that is very interesting how did you work that out those figures ?
Please explain !!!!!!!
Thanks karlmHi Barbara,
The reason I am asking you these questions is because it looks like we might have to refinance sooner than later !!!!
The current institution we are with can not link my home loan to my LOC because they said it can not be done which I think is a load of rubbish because they would be the only institution that does not set it up that way!!!!!!
Plus they took $4200 in monitoring fees and it looks like about $6000 to $6500 in break costs!!!!!!
What sort of structure did they recomend for you, you did mention a LOC ?
Living off your credit card is easy as long as you do not go over your limit.
Thanks karlm63Thanks again qld007 for your input.
Am I able to ask what sort of structure the master himself has got.
I am referring to steve himself in his book he mentions the offset account against his loan is this still correct ?
Thanks karlmThanks qld007 for the info.
Whats a HDT stand for ?
Thanks karlmHi QLD007,
What would you suggest ??????Yeah I think they saw us coming
Originally posted by Qlds007:Wow that is alot of money especially when most mortgage brokers would do it for nothing.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.Hi barbara,
I have been looking at them for a month or two now.
I bought her books and read them all and she still recommends the line of credit but I am sure she does not mention the 100% offset account against the home loan.
What sort of costs were involved for you ?
The only reason I ask is the people we are with they charged the wife and I $4200 for so called monitoring fees plus if we were to refinance it would cost us about $6500 for break costs.
That in my language is $10,000.
That is a lot of money especially when its not the right home loan I think.
