I think you might have answered your own questions.

[]

Cheers,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Definately get your finance clear in your head first. Thats where a broker can either give you a figure or get you a pre approval.

Cheers,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Shirley,

Had she not taken the honeymoon rate she would now be able to ask for the basic variable rate of 6.56%.

Unfortunately the honeymoon rates automatically revert to the standard variable.

Might be worth talking to your PB and seeing if he can switch it for you []

Cheers,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Let me think exactly what I used. My place has full length built ins and big windows so wall space might be a little reduced.

Flat paint two coats – 24l

Gloss Trim paint – 4l

Semi Closs paint for kitchen and bathroom above tiles and also toilet – 4l

Ceiling paint onecoat – 8l

OK so I guess we used about 40l all up. But there is a bit left over as well!

We also used 2l of White Knight enamel and 1l of undercoat for the bathroom and kitchen tiles.

Remember this is 5 bedrooms and a lounge as well as a decent hallway too.

Cheers,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

This is simple but difficult to explain. A loan’s interest payments are deductible if the loan was used to buy an investment. If it is used to buy a home then it is not.

Regardless of what the loan was secured by.

So to draw money from a loan against a property that is an investment and use it to pay down a homeloan then this part of the loan will not be deductible.

In effect you have just transferred the money and had no real change tax wise.

I hope this makes sense.

Cheers,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

You don’t need to buy a property.

I own a home atm. I could go to the bank and take a new loan against this property for any purpose I choose.

He is simply saying that he raised the loan because of the higher valuation and paid out his home.

There are some tax implications for that here in Australia that make it not as simple as it sounds!

Cheers,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Generally it means to change your lender and start a new mortgage. You might do this to get a better rate or to find a lender who may lend you a higher amount. Some people do it as they dislike the current arrangement.

There are costs and these should be considered.

Cheers,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Be careful. Have the property independently valued. Don’t use their legal team or recommendations. Have clauses to escape the contract with.

Check what finance they recommend as well. There will be kickbacks there too.

But most of all have fun []

Cheers,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Much will depend on where these properties are. LMI will play a large part in approving these loans.

With such small loans you should be more concerned about fees and costs and less about rate.

Cheers,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Indifference is right. Most people do not win against the bank.

Many people who fixed last year did come out better due to the recent rate rises.

I think fixing is of most benefit for those people who like to have some certainty in their financial arrangements. I am generally not a fan of fixing but I must admit I seized the opportunity to fix most of my loans last October and am pretty happy. I personally wouldn’t fix at todays rates but then neither would I try to dissuade anyone who planned to do so.

Cheers,

Simon Macks
Mortgage Broker
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.