Forum Replies Created
Looks like USA Terry
Hi Orica your questions are quite valid, however unless you are organising the valuaton yourself ? by subjecting it to finance it is already subjected to valuation, as the lender will not provide the finance if the property does not meet valuation requirements.
Hi Morayfield it northern suburbs as far as I am aware
Hi Joel people can only speculate where the market is going to go from here, there are indications it is going up however again that is speculative. You need to do your research on where ever you want to buy and make an educated decision, some areas may go up and others down depending on supply and demand. I wish you all the best with your decision you are welcome to contact me if you need any help with your finances.
I agree Marc I do not use this product the article was in support of what you say, that maybe it is not as rosy as what it seems
Ouch! I am sure Suff is aware of his error in judgement and I am sure if we all look back on life, we could find enough of our own mistakes.
It suffices to say seeking legal opinion in such matters can save a lot of trauma and cost
There are serverl ways do the research via the internet http://www.realestate.com.au domain.com etc also you could contact the councils by phone email etc. you would ask for feed back of particular areas in this forum. Google earth is a way to view the area plus you can use rpdata.com to get a picture of comparative sales in the area.
You also have the choice of using a buyers agent much like a real estate agent however where the realestate agent works for the seller the buyers agent is paid by the buyer and therefore is working for the buyer to find a property.
Personally once i have done my own research for the cost of a low budget air fair I prefer to go and sus it out myself once I am convinced I am happy with what I want.
No problems good luck with your purchase
Issues that would come to mind when considering appartments are
Size of the appartment
Location eg post code/s
How many bedrooms
how much depositIf you could provide more information it would be easier to assist, lenders can be a little finicky with appartments especially inner city or high rise, however if you could provide more what you are looking for i can help
Hi Anne Marie welcome to the site, send me an email and I can send you a link to a site that organises investor meetings
The other reason you may not be getting a straight answer as most lenders have numerous products and it would depend on the product chosen as to the I/O component, and I agree with Richard structering the loans correctly can be far more important than the rate
Thats right Angelo I suggest you do a google search for the Office of State Revenue of your state as have most of the questions and answers on the site or you can ring and speak with them
NOw that you have the offset account set up any extra cash would be best stored there as can be accessed without effecting the loan
Have you tried a google search?
Some banks have a policy to cross colateralise however even some of these can be negotiated with, say by your Mortgage Broker. If you have no deposit to fund the difference between the loan and the property value and the expences such as stamp duties etc your choice will be limited, however not unachievable a quick assessment by a mortgage adviser could tell you your options. Lenders tend to cross your properties to make it difficult for you to leave, in other words try to tie you in.
It is better to keep your properties uncrossed, otherwise it can become difficult down the track if you want to bring another lender into the equasion; eg when your current lender has reached the max they will provide you. Another instance could be that you do not service with the lender you have for your next property, but your broker can find you a lender you do service with, If the properites are crossed and say you need to take them over the 80% LVR you will have to pay LMI (Mortgage Insurance) over all properties that are tangled up in the cross colat process.
Structuring the loan correctly in the first place can save thousands in the long term, I spend a lot of time with first home buyers to ensure they get off on the right track for this reason.
The offset account to the fixed account may not be functional or only partial depending on the product and lender
It would probably be good for her to sit down with a Mortgage Broker there are plenty in this forum and most do not charge. Often vital detail can be left out when communicating in this fashion.
I am not sure who from here is in Sydney but I know there are a couple I am in Brisbane.
Yes the post is a little confusing as to whether the price is for each individual or for both
Yes its a bind many fall into and the reason more people are using Mortgage Advisers to structure their loans correctly in the first place so that if there is a change of purpose for the property it has minimum effect
They are available you need to understand that there are some hitches though, scroll back through the posts there is already a fair amount written on these loans
