There is a Brisbane Investors Club. Click on search in the menu at the top left of the screen under forum boards.

The Mortgage Adviser

What I am getting at is that asking for $20,000 (10% of property value) would mean you need another 20k and the fees to stay out of mortgage insurance territory. If you have the minimum genuine savings requirement of 3% or 5% (depending on product taken), you could possibly borrow the rest if you can service the loan from the lender and the vendor but you would also have to include the mortgage insurance.

Basically, if you don’t have any money, you would need at least 20% plus fees from the vendor, not just 10% as you outlined above because mortgage insurance would not approve the loan. Of course there are those lenders who do not charge LMI but hit you for other fees and higher rates.

The Mortgage Adviser

Yes you can. 4-5% is healthy growth especially in the current market and with the yields you outlined.

The Mortgage Adviser

As far as I am concerned, if the contracts are exchanged and there is no cooling off period, all you have to do is what is in the contract. Any letters additional to the contract are not enforceable. Any problems should have been identified during a pest and building inspection prior to signing the contracts.

The Mortgage Adviser

dmichie, there is nothing wrong with having a negative economic outlook. I just find being negative in general is distracting. A positive person, like myself, does not mean we believe the economy is just peachey all the time. We tend to look through the doom and gloom and try to find the diamonds…

The Mortgage Adviser

Hi Kit,

There is an ok search function at the top of the page under the ‘Forum Boards’ link in the menu on the left.

To subscribe to topics, you need to press the little ENVELOPE at the bottom of each thread.

Although these features can be improved, and I believe the search function is being done according to the newsletter, I hope this info helps for now.

The Mortgage Adviser