Forum Replies Created
“Heaven Knows What” by Llewellyn an interesting read for spot on Horoscope castings!!
And I am a skeptic but I’ve always loved this book and I just got a new copy in the mail (had lost the last one for 5 years).
Good break from normal non-fiction finance reads!
Liz
Mortgage Lender
Shucks Jo [happy3] and I’ll publicly announce your modesty, you had put alot of effort into your spreadsheet that most people could not do themselves, and it made sense to me.
Jo has also helped me create a capital growth calculator for those wishing to see the effects of an average yearly price growth has over the term of 20 years. It’s interesting actually (suprised myself).
PM’s or email requests for either are welcome, although I’m not always online I will get it to you as soon as possible.
Liz
Mortgage Lender
You’re not alone Rob, that’s why I thought I’d post it.
I know a lot of brokers who don’t realize it either until you point out the wording to them. So it’s important we spread the word as I think people are being mis-advised.
Thanks for the link and paste from the Office of State Revenue page, that should be even clearer then what I have written.
Liz
Mortgage Lender
Hi Jaffa,
In NSW there is no stamp duty for First Home buyers up to $500K, then tiered to $600K
In QLD there is none up to $250K and then tiered rates up to $500K.
Other states are probably similar…
Yeah my software is nice an user friendly, thankfully the company pays for it! (That’s the company my company franchises off so not mine
)Liz
Mortgage Lender
Hi All,
I created a calculator on excel just recently for a similar post, I can email it just PM me the request or email me. I simply used the PMT function on Excel, it saves buying a financial calculator or having to be online for those websites.
It calculates P & I repayments EXACTLY, I’ll add an Interest Only Function in there as that calculation is really easy, just multiply the loan amount by the interest rate, then divide it by 1200 to get the monthly repayment.
Liz
Mortgage Lender
Jaffa,
Read that article, it must appeal to you as a programmer! To me, huh?[blink]
Still trying to get program to work – I think I prefer my software, it does most of the same stuff. Yours does not have function for different rates of stamp duty for first home buyers.
Still it is comprehensive and must have taken alot of time to make!
Good luck with your study!
Liz
Mortgage Lender
It’s so easy to kick yourself over missing the boat when you see things come and go – then go up and up and up.
As long as you hope onboard sometime and have some clues about where it is going it’s the best you can do isn’t it??
Liz
Mortgage Lender
Terry,
That is a bit slack of Westpac don’t you think?
How much do these solicitors charge for such a service? They must do it on the grounds that due notice was not given.. something like that??
It must be legal if they are solicitors.
Want to share?
Liz
Mortgage Lender
Kay, me two. I see it all the time in my line of work, as people are constrained by their work situations, commitments, employment status. It’s very interesting. I think my strategy will change over time, I don’t like easy answers or sticking to one rule either.
Bundaberg is lovely! Luckily all my rellies are up in Port D/Cairns and surrounds so it’s fantastic to have everybody there already.
Good luck with your IP’s – are you looking for them in Melbourne or interstate?
Liz
Mortgage Lender
Cheer up Pisces.
I thought this was normal (builders).
Yes it is the banks who only secure a % within a unit complex, say 20% to 25%. The mortgage insurers don’t put this lid on.
Liz
Mortgage Lender
Alf,
Yeah there are over 300 products to compare, you’d have to let us know what you deem the “best”. Are your priorities interest rates, fees, terms?
This is much too vague a question for a broker!
Liz
Mortgage Lender
I’ve just got an ex MC client who said it took them 2 months to tell them they couldn’t even get an approval in principle.
No wonder brokers get a bad name, I see this all the time.[grrr]
Liz
Mortgage Lender
Ray,
I think you will find that Steve, founder of the site and bookwriter, advises to buy investments first whilst renting… Kay might know more about this though? Is that what Steve thinks?
Ray me and you should read the book already [blush2]
I can’t wait to move to sunny QLD either! How far up are you going? It’s a big state, but maybe we’ll be neighbours![suave2]
Liz
Mortgage Lender
Everdine,
Go straight to the ombudsman. I’ve had troubles with AGL myself, they are HOPELESS and thats being nice.
They should provide you with a “fair and accurate” reading of meter usage. It just takes a letter and a few phone calls and they should get off their butts.
Just make sure you are not stressing in the meantime by biting the bullet in theory only, then when you get them with the ombudsman you will be happy.
Good Luck
fellow AGL despiser
Liz
Mortgage Lender
Marissa your funny… do you have multiple personalities?
It’s very strange isn’t it Rob?
Liz
Mortgage Lender
Thanks be to Rob for reading the post correctly…
Helena can you clarify whether you hope to use the deposit for the initial deposit (if this is the case Rob is of course correct) You will need to negoiate a very small upfront deposit or get a deposit bond…
OR if you simply want to use it for settlement of the loan (when you get the keys and the bank gets their loan etc) you can…
Liz
Mortgage Lender
Oh I hope Pisces hasn’t got your knickers in a knot!
As long as the time between contract for sale and settlement is over 12 months you should be fine to get 90% lend – just make sure your broker knows which lenders will lend on the current val not the purchase price!
The only other difference is that for anything over 80% you pay a Lenders Mortgage Insurance premium…
Hope for your sake val goes up some more, but you’ve done nicely already I guess [smiling]
Liz
Mortgage Lender
Wilko,
I’m a bit of a skeptic when it comes to paying anyone more then $75 for their time (haircut, doctor…) – (oh excluding my accountant – you have to have a good one of those)
I think you’ll find many gurus here to help you, and read plenty of books… my theory is that you end up a helluva lot more informed when you research things for yourself, so it sounds like your on the right path…
Good luck either way
Liz
Mortgage Lender
Hi Helena,
There are also 100% finance options available to you. There is another thread in this forum called 100%-106% finance, which may be a useful read (and some bickering going on too hee hee).
Also St George offer 100% finance product but there is a 2.5% fee. The interest rate is higher then the Standard Variable but thats the price you pay.
For a normal product you need 3% as genuine savings (meaning you’ve saved 3% of the purchase price over a period of 6 months and have bank statements to prove it).
There are many ways to skin this cat… and plenty of brokers on this forum to help you, but more information would be necessary. More to the point – what is the purchase price, what state are you in, and is it to live in or rent out?
Let us know you and you will find your answers here [wink2]
Liz
Mortgage Lender
Marc,
If Devil takes out a credit card at 15% with $3,800 debt and repays it in 3 months the interest charges would amount to $142.50 (being lazy and not compounding interest or payments made throughout for the sake of a few dollars discrepancy).
I think reckless is too strong a word for our dear friend. I can imagine making a much larger loss on selling your car… then having to buy a new one! Plus there is the stress of trying to sell with 2.5 weeks [crying]
He’s got 0% with Citibank too so even better, good for you Luke.
Good luck in future!
Liz
Mortgage Lender
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