Dianne

I priced out an airless spray gun through one of the tool companies in Newcastle after doing the REno Kings course in Brisbane, and it was around $1500 to $1600 to buy. If you look at your quotes, and are going to do more, it would be worth while purchasing.

Hi folks

I operate a mortgage brokerage in Newcastle and am dealing with investors on a daily basis, and am an investor myself.

Walkernick’s mention of the Hunter Employment Zone is spot on. I spoke with a client this morning and his brother has been involved in getting it going over the past 4 to 5 years, and he believes that things will start happening in terms of employment (jobs) etc, which will increase demand for housing.

Raymond Terrace and Medowie are now starting to see some good growth (if you’d told me two years ago I would have laughed!) and new developments at the RAAF base Williamtown mean between 5 to 10,000 new jobs with the move of AWACS (planes with saucers on their backs), will also mean further demand.

Having said this, it is not easy to find positive cash flow properties, and as we all know, learn, learn, learn, research, research research..

If you’re from outside the Nctle area and want some info I’m more than happy to assist, and can be contacted by email [email protected].

Regards

Dave

You need to settle within this financial year.

Regards

Mark

Fullout

I should also mention that there will be no need for a credit check, therefore no reference on your credit file.

It’s based on the entire loan amount..

Regards

Hi folks,
Similar to Tony29 I am a broker. I’ve been in the industry for 7 – 8 years, and if there is any advice I can give, it is that the lenders go through peaks and troughs in terms of service and turnaround times.

Right at this moment Mortgage Professional Austalia is conducting a survey of brokers on banks and other lenders.

In addition to operating my own office, with staff, I am a director of an aggregator group, which holds the head agreements with the lenders, and underneath which brokers write their business.

It’s frustrating to one week have great service for clients, to the following week knowing the lender has fallen in a heap and that you might have clients go over the settlement date.

If you can find either a broker or a lender who can honestly cut through the garbage, let you know the picture as it actually is at the time you are borrowing, then you will be in front in saving time and dollars.

Westan mentioned Homepath, and I can relate that one of the brokers writing through my office, has success with them for investment, but that it took a little time.

If I can assist anyone with lending I can be contacted at [email protected], and web site
http://www.mortgagexchange.com.au.

If anyone is interested in the results of the broker survey when it is completed, let me know and I will either email them to you or post the results.

Like everything else in investing, research and education is everything!

I noticed your thread last night, but waited until this evening to reply.

I’m a broker (7 years) and deal with Homeside regularly. I have written similar loans for clients, but just to be sure, checked with my business development manager today, and you can have 90% fixed five years interest only.

I think you should go back to the broker and check.

Dynamite

Within NSW, most of the big five lenders have or are in the process of introducing low doc loans. ANZ will lend to 60% LVR (loan to val ratio, St George will lend to 65% and Com Bank similarly. None of these are subject to mortgage insurance, which for low docs is heavily mortgage insured by a couple of the mort. insurers, and they have strict policy in terms of postcode.

I attended a lenders training day only last week and they had no problems with postcode..

Have the brokers you’ve spoken to put your situation to one of the majors?

I’ll make enquiries over the next few days..

Ozbroker