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Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
December 14, 2003 - 4:51 am
Luckyone,
Some lenders will finance 100% of purchase price or valuation of property whichever is lower,
a higher interest rate will apply, 0.3% above SVR.
cheers Steven.
[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Victoria
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
December 13, 2003 - 1:35 am
Hi benno,
Have a look at this site A.B.S
http://www.abs.gov.au
Regards Steven
[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Victoria
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
December 7, 2003 - 3:07 am
Hi Gazzaa,
You have some equity in your IP, and only $18K left to pay down PPR debt, as both are stand alone have you considered a LOC on your IP ?
Kind regards
Steven
[email protected]
http://www.mobilemortgagemarket.com.au
Ph: 0402483216
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
December 6, 2003 - 11:40 am
HI Brownrabbit,
You are spot on, I have seen a lot of new listings in and around the Geelong region,
I have a client in Geelong who put her property on the market only last week,she has an open house today so I will be interestd to find out what the level of interest was.
Regards
Steven
[email protected]
http://www.mobilemortgagemarket.com.au
Ph: 0402483216
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
December 5, 2003 - 3:28 pm
Hi Samelma
Dont give up, have you had a look this thread?
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=5937
Minimogol has been kind enough to share these with the rest of the forum, Good Luck.
Kind Regards
Steven.
[email protected]
http://www.mobilemortgagemarket.com.au
Ph: 0402483216
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
December 5, 2003 - 3:20 pm
Hi Davidb,
below is a link to DaleGs web site
http://www.gatherumgoss.com
and another link below to a paper written by Chris Batten,
http://www.strategicwealth.com.au/documents/5Reasons.pdf
Kind Regards
Steven
[email protected]
http://www.mobilemortgagemarket.com.au
Ph: 0402483216
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
December 5, 2003 - 1:12 pm
Hi John,
The criteria for choosing which lender to apply for funds will depend on a number of factors,
What income some lenders will except for assessing serviceability, another lender may not except,
Income from rent, Your deposit amount (LVR), where your IP is situated (post code) are just some of the factors to be considered when applying for a loan,
I hope this is of some help to you,
Kind Regards
Steven
[email protected]
http://www.mobilemortgagemarket.com.au
Ph: 0402483216
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
December 2, 2003 - 11:15 am
Hi itsamoorey,
You asked if Mortgage Brokers are worth the money?
Most Mortgage brokers do not charge their clients a fee for their service,
Myself and I suspect the other brokers who post regularly on this forum, are paid a fee from the lenders/Banks,
Kind Regards Steven,
P.S Are you a Dean Martin Fan?
[email protected]
http://www.mobilemortgagemarket.com.au
Ph: 0402483216
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
December 2, 2003 - 4:02 am
Hi Freedom,
It was nice to meet and chat with you and Mrs Freedom, and all that were there on the night.
Kind Regards
Steven.
[email protected]
http://www.mobilemortgagemarket.com.au
Ph: 0402483216
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
December 2, 2003 - 3:48 am
Hi Alexander
Have you seen these?
http://www.noagentproperty.com.au/index.asp
http://www.australiarealty.com/
Kind Regards
Steven
[email protected]
http://www.mobilemortgagemarket.com.au
Ph: 0402483216
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
December 2, 2003 - 3:32 am
Hi Kat,
Never give the banks more security than is necessary,
ANZ and StGeorge also offer a decent Pro Pack
Regards
Steven
[email protected]
http://www.mobilemortgagemarket.com.au
Ph: 0402483216
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
December 2, 2003 - 2:58 am
SNAP,Re Xcoll
Mel and Simon,[]
RugbyFan,
Can I recomend you contact Simon or Mel from this forum, I am in VIC, But Simon and Mel are up your way so to speak, Both will steer you in the right direction,
Kind Regards
Steven
[email protected]
http://www.mobilemortgagemarket.com.au
Ph: 0402483216
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
December 1, 2003 - 1:58 pm
Hi Rob,
Well I can highly recommend Dale G,
He is based in Melbourne, here is a link to his web site,
http://www.gatherumgoss.com
Kind Regards
Steven
[email protected]
http://www.mobilemortgagemarket.com.au
Ph: 0402483216
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
December 1, 2003 - 9:25 am
Hi RugbyFan,
I am allways willing to help anyone,
give me a call or e-mail anytime.
Kind Regards
Steven.
[email protected]
http://www.mobilemortgagemarket.com.au
Ph: 0402483216
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
December 1, 2003 - 9:17 am
Excuse my ignorance but does everyone who is on these boards and have purchased positive cash flow property either:
1. find property with 20% yields or better
2. Have no mortage on their PPoR
3. Have a lazy $5,000 – $20,000 lying around to use as a deposit.
If 1, then lucky them, I will have to look harder. If 2, then good on them, we will be there soon (Feb I hope) and if 3 then I have to envy them very much!!!

Rugby fan,
if you structure your borowing the correct way, then having a lazy $5,000 – $20,000 is easy.
Kind regards Steven
[email protected]
http://www.mobilemortgagemarket.com.au
Ph: 0402483216
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
December 1, 2003 - 8:27 am
Hi Kyl_37,
If I understand you correctly, I am not sure if what you are planning to do is the best option,
You say you will refinance on a 30Year term, fixed for Five years,
But you plan on paying down the loan at a faster rate,
And you are using your own funds to purchase the 2nd IP
Some things to consider:
If you fix there may be penalties for paying down the loan sooner,
Fixing may hinder offset opportunities, and pulling equity in the future if needed,
Have you considered a refinance using equity from IP1 to fund deposit for IP 2
The funds pulled from IP 1 should be claimable and IP 2 could be stand alone,
Or if you want to fix have you considered a split 50% fixed 50% variable?
Starting with the end in mind will help to remove problems later on,
Kind Regards
Steven
[email protected]
http://www.mobilemortgagemarket.com.au
Ph: 0402483216
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
November 28, 2003 - 9:19 am
A client of mine (here in Victoria) was told by the R,Agent not to bother putting down a deposit,
However, I strongly advised her to put a deposit down, better to be safe than sorry.[]
regards Steven
[email protected]
http://www.mobilemortgagemarket.com.au
Ph: 0402483216
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
November 28, 2003 - 9:02 am
quote:
When making an offer on a property, written or verbal, do you pay your deposit then or when the offer is accepted?
Cheers TP
Hi TP,
If your offer is accepted by the vendor you may be required to put down a small deposit,
Two or Five hundred,
It is advisable to have some conditions attached to the offer, eg: Subject to finance, Building & Pest inspection etc, if you do a search on this forum you may find a lot more information on the subject, Good Luck.
Kind Regards
Steven
[email protected]
http://www.mobilemortgagemarket.com.au
Ph: 0402483216
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
November 27, 2003 - 3:52 am
I would also like to add a big thank you to Dale and DaisyGirl for a very informative and enjoyable night,
I have always found Dale to be most generous in giving his time and valuable advice for those that seek it,
It was also great to catch up and put some faces to the names here,and have a chat,
Thanks again DaisyGirl and Dale
Regards Steven
[email protected]
http://www.mobilemortgagemarket.com.au
Ph: 0402483216
Mobile Mortgage
Member
@mobile-mortgage
Join Date: 2003
Post Count: 913
November 26, 2003 - 3:44 am
Hi BigBen,
If the debt on your PPR is causing you to have sleepless nights, Maybe a fixed rate will help ease your concern,
Or the use of an offset facility to pay down your PPR debt at a faster rate may be another option,
Kind Regards
Steven.
[email protected]
http://www.mobilemortgagemarket.com.au
Ph: 0402483216