Forum Replies Created
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?
have a look at St.George, they are giving a 6.8% interest rate for 1st year and heavy discounts there after.
I have come across a group that will accredit groups in credit Representatives for $700 per year.
If interested personal message meBeing an ex agent myself, I only placed owners on Realestate and domain. the others dont generate any leads.
Just be aware of inflated internet prices, each agent will give you different costs and In most cases you can get it for free as the agents pay by monthly fee not per property.rhianna wrote:Does anyone know if the banks accept a letter from employer when refinancing. Going back to work shortly after mat leave, i have a letter stating my salary and return to work date but no payslips as yet.
rhianna most banks will be happy with this. Which lender are you going to?
I suggest option 2, as you dont have to go into your own savings
Magic32 you are right there, you can only work off the pre-approval. Do you know which lender you are going with?
I was a commercial lending manger for NAB, we did it up to 70% (including land value in calculation)
Here is what the article e-mailed to me by a NAB mobile banker says:-
You may have seen the article in the paper over the weekend discussing NAB targeting CBA and Westpac clients in regards to refinancing and covering exit fee charges.
In order to do this, we have extended our $1000 Cashback offer and will be offering this to any clients who refinance their Home Loan to NAB and apply prior to the 29th April 2011. This offer is capped at $1000 per customer.
This is a fantastic time to discuss refinancing with clients as we are still market leading with interest rates amongst the top 4 banks and have this great offer.
Generally, I can get a refinance through in 4 weeks so this is a quick way to increase your revenue for the quarter.
Qlds007 wrote:Kane i think you will find the NAB offer is only $700.Of course many lenders dont charge an application fee or ongoing fees so they may prove to be more attractive than a mere financial incentive to move.
With regards to the proposed banning of exit fees this has been muted by the Fed Govt however is under opposition from everyone other than the big 4 as it will likely reduce competition and increase other fees, charges and possibly interest rates.
Cheers
Yours in Finance
Hi Richard,
If you are a referrer, NAB is giving $1000. I will send you the e-mail for notification
Brokers can only give away $700
St George are offering $700
CBA $1200
NAB $1000CBA are now doing 95%
Qlds007 wrote:Really i didnt realise Gadens Solicitors created NCCP (I will assume you had a typing error in your response) i thought it was a Government legislation administered by ASIC.Shows how wrong you can be.
Even with 10 lenders i still cant see how you can be offering a wide choice of lenders.
Wonder why we get so many calls and emails each week.Cheers
Yours in Finance
Richard, You are right and wrong.
You must not have heard of Jon Denovan http://www.gadens.com.au/OurPeople-Detail.aspx?navid=3&cid=34&oid=1&pid=58
Richard, I find your comments to have no supporting evidence. Do you have a problem with my business?
10 lenders? By broker news, the average broker completes 2 deals per week and have 30 lenders via their aggregators. With 70% of business going to the majors, why do I need more than 10 lenders? 10 lenders alone will cover 85% of business.
Also via broker news, they show the average broker has trouble keeping up with the required business levels to keep their agreements open.
You being an elite broker, may not have this problem, but a lot do.Lay off with the bantering
Qlds007 wrote:Kane with only 6 lenders on your panel i dont believe you are getting clients the best deal possible.
Be interested to see how you get around NCPP with that kind of statement.
Cheers
Yours in Finance
Hi Richard
Thank you for your comment, I have all the major lenders on board with a further 4 2nd tiers coming in the next few weeks. The majors currently are doing over 70% of business in Australia. Saying that 60% is direct business and 40% is broker. I concentrate on the direct business and refer borrowers to the mobile banker of the lender they choose. I then refund 65% of my commission, in most cases $1000+ back to the borrower. It’s a new model , I have been testing for over a year now with great success. It’s only now that I’m taking the company nationally.
The customers who have come to my service, have been given great loan packages. With the ability to make the lenders compete against each other draws the best possible deal. Most customers choose 3 lenders to fight for their business.
In regards to the NCPP act, my solicitors are Gadens Lawyers who created the NCPP, so you can rest assured by agreements and business is 100$ ethical. Happy to drop her name if you need NCPP advice.
Hi emptyvessel
I would advise going to your mortgage broker and getting the vals done for free to assess your equity. The broker will be able to assist you without creating an application.
Hi Mjjg,
I agree with Terryw, in regards to 80% lend, CBA have just upped their LVR to 95% and for a low rate look at St George who are offering 1% off.
As an ex real estate agent, I have heard some horror story's, this should be on top of your list before purchasing, as well as a building inspection. You never know what lays beneath or in between the walls. regards
Ummester, As an ex real estate agent, I have never heard of Agents collecting fees when a place is not tenanted. They charge you letting fees, but not holding fees when empty.
regards
