Forum Replies Created
- Qlds007 wrote:Wow what an incredibly complicated structure your Broker has set up for you and as the boys have mentioned could end up costing you a pretty penny.
Before you rush might be an idea to take stock of the situation switch mortgage brokers and get the structure right before you proceed any further.
Always try and get the individual loan standing on its own two feet secured solely against the individual property.
Without further hard data it is difficult to comment fully but sounds to me like a wee bit of a mess.
This is good advice. I just got out of a messy loan structure and it cost me $6,000 to refinance to a new lender.
It was worth doing because my interest rate dropped from over 9% to 6.39% but those refinance costs were a bit. It would have been preferable not to get into the mess in the first place.
mattsta wrote:''This has potential to be significantly worse than the Lehman Brothers collapse and the subprime crisis because now we are talking about nation states,'' Mr Norris told BusinessDay.That's quite concerning. I guess I may have to brace myself for the oncoming GFC2 – What are you all doing to protect yourself (or at least be cautious)?
Great question. I invest mainly in residential real estate with an investment partner. I still invest in property but will wait to get a better deal. I just picked up a house for $465,000 that was listed at $540,000 a year ago. What else?
a) keeping our loan to value ratio lower than usual (around 65% post new property purchase)
b) maintaining a decent buffer for rental property vacancies and interest rate increases
c) looking at building an additional dwelling on an existing property instead of buying an additional property.I am expecting prices to continue to ease for at least another year, so I am taking that into account when making investment decisions.
