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  • Profile photo of Peter TPeter T
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    @peter-t
    Join Date: 2005
    Post Count: 4
    March 21, 2006 - 3:04 pm

    The two main mortgage insurers are GE & PMI, but there are plenty of others as already mentioned.

    Some lenders to not mortgage insure, but instead have a ‘loan equalisation fee’ which for all intensive purposes is a similar beast.

    I’m curious why you’re asking. A good broker should be able to navigate MI requirements are part of the process of vetting a suitable loan for you.

    PTB Financial Solutions Pty Ltd
    (03) 9874 8576
    [email protected]

    Profile photo of Peter TPeter T
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    @peter-t
    Join Date: 2005
    Post Count: 4
    March 14, 2006 - 11:12 am

    In your finance clause, specify the amount and the lender.

    “Subject to finance for $300,000 from Westpac”.

    Make sure you specify a due date for the fiance (at least 2 weeks, preferably 3 if they’ll accept it). If you don’t have finace by the due date, or you want to pull out, you much communicate this prior to the cut off.

    Profile photo of Peter TPeter T
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    @peter-t
    Join Date: 2005
    Post Count: 4
    March 14, 2006 - 10:33 am

    The easiest way to figure out what’s in demand is to ask a few rental agents ‘What sort of property can’t you get enough of?’. This has always produced great information for me.

    Profile photo of Peter TPeter T
    Member
    @peter-t
    Join Date: 2005
    Post Count: 4
    April 23, 2005 - 5:09 pm

    In NSW I beleive that you are required to put down a 10% deposit by law, otherwise the contract is not binding and the agent can sell the property to another party.

    In Vic and WA it’s definitly negotiable.

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