The comparison rates you have are incorrect. It is NOT POSSIBLE for the comparison rate to be lower than the ACTUAL rate. The Homestar site has listred these comp rates for a while now, and I am honestly suprised they have not been pulled up on it yet. Also, the rates are very close to ING becaues Homestar just rebadge ING wholesale money. Best of…[Read more]

Richard, It sure is. My business partner arranged 100% funding for a commercial project only weeks ago. Most commercial facilities are not considered on a servicibility basis if there is a clear Xit Strategy in place. You just need to have room to cap interest and a revolving GST facility built in. Totally possible. You just need to know where to look.

Bite the bullet and just get a commercial construction loan. It is, after all, a commercial project. You are setting out to build a dwelling for immediate sale and profit. Even though it is only a small scale (there is no smaller project than build one structure and sell it), it will be a much easier way to indicate your intentions to the bank and…[Read more]

CentralChoice wrote:
Hi Joyce,I am pretty sure your lender will have an issue with it – if your name is on the title it must be on the loan. However, you can be on the loan without being on the title, just not the other way around.The only other way would be for your husband to "gift" his share of the property to you, eliminating the need to pay…[Read more]

Lucy, The reason you are confused is that the person on the other end of the phone had ABSOLUTELY NO IDEA what they were talking about. All your questions are pretty standard, and you should call your bank back and ask to speak to someone that handles Mortgages on a regular basis, not just the first bank teller that is available. I could spend…[Read more]

As long as the figures are all OK and you don't have any defaults etc then it should not be a problem.

and I am sure that the Refund broker (that was a plumber or carpenter etc) only weeks ago will be very helpful. The funny thing is Wayne Ormond actually uses that point as a sales pitch when selling his franchises. "I have brokers that are writing loans today, and they were plumbers and Mechanice two months ago". "This could be you" Find a broker…[Read more]

As a novice, you have not yet had the opportunity to experience the banks and all their stupidity. The answer to your question is a simple one. Option one – Go with the bankOption two – Go with the same bank, but ues a broker. Now my opinion is biased, but you should consider that if the rates are the same, thd the fees are the same, you will get…[Read more]

PLAN does not require that you be a member of MFAA (there is no MIAA). You can also be a member of the FBAA. If your are not a member of either, you should consider reviewing your credentials as  they are almost a 'must have'. I have just joined PLAN, but I have no real feedback yet as I have had only limited dealings with then. Cheers.

I think the best you could argue if you were facing a big fee is to break down the remaining term, and compare your current rate to the predicted rates over that period. ie If you break a loan today, and you are on 8%, and todays rate is 6%, this forms the basis for the penalty. The result is then multiplied for the remaining term is 2.5 years. If…[Read more]

Eugene, Why will you be the only applicant on the loan?If your wife works, it will be better to have her income taken into account where possible. You will have to show her on the application if she is going to be on title. If you do not want her on title, you will have to note her as a dependant anyway, and this offers no protection of the asset…[Read more]

Richard is right. Sometimes the best advice is free, and the worst is the most expensive. Some of these marketing groups do OK work, but there is a vast majrity that do not. Take your time to do a bit of research yourself, and learn as much as you can . Jump on the net, and look at what is out there. Then go out and seek some additional advice,…[Read more]

It sertainly sounds like there ia a multitude of things wrong with this transaction. I am pretty sure that the first thing required to be signed in WA is the Finance Brokers Contract and authority to act. Everything elst that follows without that signed is contrary to the finance broking laws of WA. In addition, the above points are excellent ways…[Read more]

Maybe you should man up and tell us all who you are. You need some new material. You have already covered crap website and lives with mum. As outlined, some of us can dish it but cant take it. So, open up and take it. Tell us who you are?Obviously you have no idea what you are on about. Finance brokers have NOTHING to do with APRA. APRA is the…[Read more]

Badger, I am not particulary fussed as to your opinion. Everything you have said in relation to the site is correct. Spot on. It is very low rent, and thats exactly the way it was intended (obviously barring the typo).The fact of the matter is that I put the site up in about 3 hours from start to finish (and it shows). It was intended purely to…[Read more]

According to the current rules, you can own 10 investment properties and still be eligible for the FHOG. The great is to assist with the purchase of your first owner occupied property.

There is essentially no difference between an investment loan and an owner occuspid loan. It just comes down to your own actions. If you claim the interest…[Read more]

According to the current rules, you can own 10 investment properties and still be eligible for the FHOG. The great is to assist with the purchase of your firsi owner occupied property. There is essentially no difference between an investment loan and an owner occuspid loan. It just comes down to your own actions. If you claim the interest charged…[Read more]

Badger, you are obviously a pleb, and have likley not held a job any higher than low/low-middle management. Seminars can be useful, when they have accurate content and seek to accomplish a fair goal. Obviously, the goal in most cases is for the organiser to promote/peddle their products or services. That simply must be assumed. That is their…[Read more]

As most of the transactions you winn need to perform will be electronic, I would recommend an institution with strong internet banking facilities.Other than that, just make sure you do the sums if there is any kind of fee attached to the account. Figure out how much money will need to be in the account to cancel out the fees, and make sure you are…[Read more]

There is no such thing as a 'normal loan'.

You can have an interest only loan on the house you live in, and you can pay p+i off your investment property.

Just based on the very basic summary you have provided, it would probably be suitable to structure your loan in the following way. Take out a competitively priced loan with an offset account,…[Read more]