Thats alright NSW2011, you are right the market is very competitive and I can tell you it’s booming. Just over the weekend I got 14 applications over NSW and VIC, 10 are refinancing. They are all after the cash backs from NAB, CBA and St George and their competitive interest rates.
If I had Bankwest I could help you, but they are currently out of…[Read more]

I agree with scott

St.George/BankSA is running a special Advantage Package discount offer for new applications received from Thursday 31 March until Tuesday 31 May 2011

St George running new Campaign

St.George/BankSA Campaign Package Discounts:

$250k – $499k: 0.80% p.a.
$500k – $749k: 0.85% p.a.
$750k – $999k: 0.90% p.a.
>$1m: 0.95% p.a.

2. St.Ge…[Read more]

Your not wrong there, never go to branch staff, they need to know too many tasks and thus can specialise in 1 field.

I refer to mobile bankers, they only deal with home loans and thats it.

I could refer to branch, but they stuff around too much and loan take a lot longer

god_of_money wrote:
My loan size is 750k…. But still competitive… Should complain to bring down

Are you going direct to the bank or to a broker?

Homeside pays trail

Must of passed on the referral commission, I do it all the time

Jamie M wrote:

god_of_money wrote:
They offered me 0.9% disc … so 6.9%… not too bad but not the lowestI am thinking about going to Choice package with 6.77% (my friend be able to secure it loan ~ 1 million with  65% LVR)

I take it your loan was greater than $250k though?

It has to be

Yes I have done it before, going direct to the bank gives borrowers higher discounts

NAB, i like it and they give the most cash back

god_of_money wrote:
They offered me 0.9% disc … so 6.9%… not too bad but not the lowestI am thinking about going to Choice package with 6.77% (my friend be able to secure it loan ~ 1 million with  65% LVR)

Thats not a bad deal

Option F is the safest by my view

NSW, I suggest you go with whichever person you are most comfortable with. Not all Mortgage house franchisees are bad. It’s sad some let the group down.

FYI if she refers you directly to a bankwest mobile banker, she will be getting a 0.4% commission for the referral, might be wise to ask for some of it.

All the best for the future

If you deal with a mobile banker, they can give you good sized discounts, thus the 6.8%.

Have you looked at bank’s packages as you are borrowing $250k you qualify. eg: Nab choice package @ 6.97%?

Hi Haratio,

You have a few things to consider.
I believe she can access her super money now as she is over 60, but check with your accountant

I don’t recommend renting the property out yourself, unless you are an expert in property management. It’s a big head ache and becomes personal for the smallest of issues.

Should you rent it or stay?…[Read more]

Hi Adam,

It’s a hard decision, best thing is to get a property valuation and split 50/50 just as though she is selling to another person.
Be aware you may be losing your 1st home buyers grant by doing this.

In terms of expenses, I have found in situations similar it’s best to go 50/50 in everything from the point of purchase, that way no arguments.

It depends on your serviceability of the loan, the property will be worth more once subdivided

Tristan, its comes down to your serviceability of the loan and the rental amounts from your IP

Hi Squirrel

You would need to get a valuation on your PPOR, as I believe you are looking to extract equity to stay under LMI limits.
You should be able to claim the 286K in tax deductions, but consult your accountant asap.

Sorry Brett bit confused, is the new place with the backyard to subdivide or your PPOR?