Hi C2

Originally posted by C2:
LB, Which part do you think it’s a job for the banking ombudsman? The ‘it’s not my problem’ answer, the phone calls to get me back or the whole process.

C2

Rich in happiness and money is better than rich in money with no happiness.

It sounds like they have sorted it all out, but banks hate the ombudsman. Banks…[Read more]

Originally posted by redwing:
Who are the better Non-Bank Lenders ?

REDWING

“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator

Hi Redwing

I don’t want to advertise, but the mob I work for is currently Money Magazine’s Non Bank Lender of the…[Read more]

Sounds Like a job for the banking Ombudsman C2.

Yes Home Loans Pty Ltd

Is your mortgage advisor accredited with the “Non Bank Lender of the Year?”
(Money Magazine 2005).

Hi vernon

1/ Don’t bother with a 1 year fixed. You may as well take a “honeymoon” rate for a year then fix and get the advantage of ultra cheap 1 year honeymoons.

The disadvantage of fixed rates

1/ What is what is known as “break costs”. Thats the cost for the lender of redeploying the money at the market rates at the time multiplyed by the…[Read more]

Originally posted by redwing:
Originally posted by LB:
ANd you still went with another bank!?

Yes Home Loans Pty Ltd

Is your mortgage advisor accredited with the “Non Bank Lender of the Year?”
(Money Magazine 2005).

Sorry LB You’ve lost me there?

[blink]

Hi redwing

I mean you are going from one bank to another, why did you not choose a…[Read more]

Originally posted by relliott:

By the way, LB seems to have a chip on his/her shoulder….wonder why? I can probably guess.

Still, some valuers even invest in +ve cash flow property so they can’t be all bad!

Hi relliot

I am sure you are a great valuer and my comment was somewhat tounge in cheek and yes there are plenty of good valuers out…[Read more]

From memory, the CGT was not retrospective so check what date they were purchased, could be CGT free?

Yes Home Loans Pty Ltd

Is your mortgage advisor accredited with the “Non Bank Lender of the Year?”
(Money Magazine 2005).

Hi CLueless

Property returns over the last 30 years averaged 10% compunding and kept pace well ahead of inflation. Not sure but I think inflation would have averaged somehwere around 5% over the last 30 years, it is currently in the 3’s and has been for around 10 years.

Rent returns are at a low because we have just come out of a very fast…[Read more]

ANd you still went with another bank!?

Yes Home Loans Pty Ltd

Is your mortgage advisor accredited with the “Non Bank Lender of the Year?”
(Money Magazine 2005).

Sounds like you have a home mortgage as well???

Yes Home Loans Pty Ltd

Is your mortgage advisor accredited with the “Non Bank Lender of the Year?”
(Money Magazine 2005).

He should give you, so ask for;

3 comprable sales in the area no more than 12 months old, tell you what they sold for and why in his opinion they are inferior or superior to yours.

Thats about all a valuer can really tell you. If they were any better than that, they would be retired, owners of the firm, employing valuers or property developers…[Read more]

Whooo….Hold on Diggo,

While I am in awe of what you have done to date at the tender age of 16, I can tell you that you do have to be 18 to buy a property. You can also talk to a solicitor about ways of buying a property that you inhert at 18 (a number of ways to do this).

Once you have established that, you need to be very careful where and…[Read more]

Hi one-step

Let me tell you that you and your partner represent the top 5% of the population every lender wants as customers, so first lets establish that your in driving seat and in full control.

Second

You need to ask as many people as possible because there are some very big tax implications here. The first of which is the $100,000 that you…[Read more]

Hi Anne

Terry is right.

Most lenders will take your guarantee into account for all trustee comapnies you are a director of and the subsequent loans and repayments. They will also take the rental income into consideration which goes a long way towrd helping service the debt.

They will know about the other trusts because creidt enquiries like…[Read more]

Hi Nat

Here are the options and the Traps

Options

As a previous poster suggested, you would want to look at refinancing your existing home loan, either with your current lender or a new lender.

Also as another suggested, below 80% is best.

While lifestyle and unlimited earnings, are great for self employed, borrowing money is not.…[Read more]

Hi Danny

Long term rates have no direct bearing wether rates will rise or fall. They are different markets. When rates were 18% in 87/89, fixed rates were cheaper. That was the market prediciting a rate drop but it took 6/7 years to come. This time round, fixed rates are higher that variable rates so the market is predicitng a small…[Read more]

Hey ET

You cannot borrow directly against it, but what you can do is get an overseas bank to issue you a bank guarantee to and Aussie Bank and borrow against that provided the OS bank is a credible one.

Yes Home Loans Pty Ltd

Is your mortgage advisor accredited with the “Non Bank Lender of the Year?”
(Money Magazine 2005).