Hi Susie

Hate to say the switch fees will be a little more than that.

You will have mortgage registration, transfer and discharge, bank title search fees, valuation and settlement fees etc.

Not sure if the to loan is an investment loan but if either way One Direct do not offer a offset account.
The Anz Simplicity product has a rate of 7.62% so is hardly worth dealing on line for such a small margin saving and at the end of the day at least dealing with the Bank you can start to structure your loan in a way that it will help grow your portfolio.

On t

he fixed

Hi Anders

Same here be happy to recommend an expert in the field.

Hi Susie

I hate to say i doubt they will waive the fee.
Depending on the size of the loan and the other details could still be worth swallowing and refinancing away to a cheaper rate.

The answer is simple.

Where you can do not cross collateralise the loans.

There are always exceptions to this but certainly when starting out try and avoid such a strategy if you can.

There are many more downsides to merely the one you have pointed out.

Oh well isnt that bad after all only down 452 points on the open lol.

Europe and the UK are off 9% in the day so have another couple of hundred to fall yet in the Dow before 1.00am.

Hi Johan

Yes you will still need your Cert IV.

Only way you will get connections with lenders is through your Aggregator as they will give you the list of the BDM who will look after you.

Regretfully dont expect too much in the way of service from a lot of them who merely focus on some of their bigger producers.

The industry is not blessed with great customer service in the main.

Assume that the property is worth $260K you could borrow upto 80% of this valuation without mortgage insurance or upto 95% with mortgage insurance.

$260K x 80% – existing debt of $150K = $58,000 or

$260K x 95% – existing debt of $150K = $97,000

With the raised funds you can use this as deposit and acquisition costs on your new property or properties.

I have never paid anything in Qld for a contract that has been extended or terminated.

In saying that admitedly i use a Solicitor just pay conveyancing prices.

Simon

It all depends on the deal itself.

Very few lenders have staff that can approve a deal without having to go the credit or assessment department for a decision.

If the application is as mentioned in the name of a Unit Trust many lenders will struggle with the concept.

Some lenders have specialised credit managers who process Trust and Company application who are usually mroe senior staff.

Personally i find dealing with the likes of Westpac worse than a trip to the Dentist. The Dragon is just behind them with credit normally wanting copies of your grandmothers credit card statement or a list of your nephews friends for a reference.

Dont normally have much problem in deals flowing but it all depends on the complexity of what you trying to get approved.

I think you will find that the $150 per lot refer to the Body Corporate Managers annual fee for managing the complex.

It is usually incorporated into Budget for the Administration Fund and will form part of her quarterly contributions.

If you ask for a copy of the Body Corporate Managers Managing Agreement it will set out the Term in which they have been appointed. Normally this would be for say 3 years and then would on expiry would become a "minute" item at the Annual General Meeting.

I have never come across any BCM charging to be re-appointed. Of course i stand to be corrected in todays climate.