My investment clients generally seek variable loans with the exception of a period late last year when fixed rates appeared cheap – and looking back they were. Today they are still mostly after variable.

Those that do seek fixed generally do so as they are willing to pay a premium for the certainty of a fixed rate. Only you know what that is worth to 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.

Someone once said:

“A man will pay double to buy something he needs whereas a women will pay half to buy something she doesn’t need.”

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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.

My best variable LODOC is 6.85%. There are fixed rates available if you need them but I will have to chase them in the morning.

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 can’t.

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.

Can you tell me pls if I go get a mortgage for it after settlment ie 80% and pay back the LOC, if it’s within 6 mths the bank simply uses the contract price? My friend is a valuer and she said they would just use the contract price if < 6 mths.

All depends on which lender we use. If you wanted a new valuation we would use the appropriate lender.

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.

Mel,

65% LVR. Current rate is 6.85%.

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.

“A Dollar Saved, is a Dollar Earnt”

Actually depending on your tax bracket a dollar saved is two dollars earnt!

My recent reno – I went through a builder for a kitchen and he had it built at trade prices for $2000 and he installed it for $400. I had previously run around four different “budget” kitchen builders and my best deal was $3500 installed.

I filled the front garden with some old agapanthus destined for the tip – they are flowering and look great and will be a very low maintenance rental garden

White Knight tile paint bought the bathroom up a treat for $100 – cheaper than tiling. New taps were $200, a Vanity $50 at auction and a shower screen was $270 installed. Looks like we spent thousands. Even the agents who have been around didn’t pick the tile paint and had to look closer. One still didn’t believe it and I had to show her a run to convince her!

Mistint paint is great but not if you need more than one tin matched perfectly. My brother bought a 10 litre tin of Solarguard for a little house and paid well under half price.

End of run tiles and odd lots save you too – I got 6 m of tiles for $66 instead of well over double that for the same tile.

Lastly, with all the flexible hoses and fittings available now I plumbed the whole bathroom and kitchen myself for a hundred odd dollars – I can’t imagine what that saved!

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.

Redwing,

I don’t know if that is always true about bank valuations or is perhaps an urban myth – maybe somewhere in between.

I cannot remember the last time a bank val didn’t match purchase price. Some banks have very sympathetic valuers and as a broker I use these where it is essential.

I am sure plenty of forumites have stories to prove me wrong but I haven’t had too much grief with valuers over the years.

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.

One idea might be to run your plans past a reliable REA who can tell you the market value in his eyes. This is not a valuation but will give you a feel.

You can ask a valuer to take a look at the property and give you his opinion – this will probably cost you a few hundred dollars.

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.

Cecilia,

The cost is one thing but Pisces best idea is that if a little time and reno work goes by you may well be able to finance above the 80% mark without LMI – perhaps even 100%! Depending on the new valuation.

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.