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  • Profile photo of prospectorprospector
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    @prospector
    Join Date: 2012
    Post Count: 10
    November 4, 2012 - 9:49 am

    Hi Tom

    I havent signed any contracts yet

    The finance has been approved and contracts are  in the post to me.

    Settlement date is the 20/11/12

    I know i am running out of time on this but i still may be able to discuss with anz before signing any thing

    From what you say it sounds like i need to get it right to save money and grief down the road.

    Profile photo of prospectorprospector
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    November 3, 2012 - 8:36 am

    No, i wish now i hadnt gone through a broker,they were not very clued up and when i arranged an appointment with anz to discuss the structure, they wouldnt talk to me because i was proceeding with the broker.

    Still, i should of done some more homework earlier

    Thanks for your comments guys

    Profile photo of prospectorprospector
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    November 3, 2012 - 7:46 am

    Hi Qlds007

    If i had of put set them up as stand alone would i have had to then pay 20% deposit on the unit cost?

    Profile photo of prospectorprospector
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    November 3, 2012 - 6:25 am

    Valued at $400,000 by ANZ valuers. yes i do have cash but didnt use it as deposit. I have used the equity instead of paying a deposit

    Current loan amount on PPOR is about $312,000

    Profile photo of prospectorprospector
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    November 3, 2012 - 6:10 am

    I am refinanced with anz just to get back into a mainstream bank.I was with Homeloans LTD but their branches had dwindled down to 1 in all of Perth. No atms and only online banking. I purchased my PPOR about 6 years ago.

    Profile photo of prospectorprospector
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    November 3, 2012 - 4:10 am

    Hi guys, i am also new to  property investment and have a similar question

    I am refinancing my home and have borrowed for and investment also.

    I paid LMI on my PPOR when i bought it, can this insurance be carried over  to the new lender i have refinanced with because with the new property my LVR is up at 87% . I never thought to ask the new lender this

    Thanks

    Profile photo of prospectorprospector
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    May 8, 2012 - 12:00 pm

    Ok Qlds007, thanks for the advice. Could you explain what you mean about the lender doing a credit search and frying my credit score

    Cheers

    Profile photo of prospectorprospector
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    @prospector
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    May 8, 2012 - 10:14 am

    Hey guys
    Thanks for the comments and the links. I think my first step will be to talk with my lender and see how much equity is in my home i am living in now and how much i can borrow against it
    This should give me an idea of what price range i am shopping in.

    Cheers

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