Forum Replies Created
- Originally posted by dmichie:
Well, I don’t know about other parts of the country, but where I am (northern beaches, Sydney) we had an auction clearance rate of 7% last weekend (no, not 70%, 7%). I’d hardly call that ticking along.
EXACTLY!!!
The situation on the Northern Beaches is not an economic indicator for the rest of the country!
Robert Bou-Hamdan
Mortgage AdviserThere is no need to apologise to me. I have no problem with ‘informative’ links.
I take issue with the absence of impartiality and ongoing posting of negative articles and commentary in an attempt to achieve your desired goals – ie: lower property prices on the northern beaches and a decreasing Australian dollar. This has no regard for the ‘battlers’ (who you keep referring to) who already have a property and will lose the lot just so you can make more money and buy a cheaper property.
Robert Bou-Hamdan
Mortgage Adviserdmichie (and his aliases) will not like this post!
Robert Bou-Hamdan
Mortgage AdviserThe $300 is not an exit fee. It is a mortgage discharge fee and a similar fee applies to every loan.
Robert Bou-Hamdan
Mortgage Adviserdmichie, did you get sick of using your normal username?
ssab has an amazing writing style comparable to yours.
Robert Bou-Hamdan
Mortgage AdviserAnd most of them are from the UK. I can’t see how it is a viable way of securing the right staff.
Robert Bou-Hamdan
Mortgage AdviserI don’t follow any of your links any more. They are always the same negative trash.
I am sure I do disagree with it though.
Robert Bou-Hamdan
Mortgage AdviserThe only recent change is…
UPDATE – ASIC on 3/5/05 released all document originals produced under notice to our solicitors. Individuals can contact Derivex on 9299 4100 if they have a need for these documents to be returned to them.
Robert Bou-Hamdan
Mortgage AdviserI would be taking a loan at 6.72% variable if I was at 60% LVR on a low doc. No ongoing fees and charges and no deferred establishment fees. Only $400 application fee.
Any good broker can help you get this loan.
Robert Bou-Hamdan
Mortgage AdviserI am very impressed with the Budget. I think it will fuel a bit of growth through additional spending and investing and balance things up a bit more. It certainly offsets the decreased cashflows incurred by all following the last interest rate increase.
By the way, I was born and bred in Sydney.
Robert Bou-Hamdan
Mortgage AdviserI do not read self-help books. I do not need them to tell me to be confident. Regarding challenges and problems, you are way of the mark. I have one particular problem at the moment which is rather annoying. You might know ‘HIM’! I am also facing a challenge which is to get rid of the problem.
You are extremely one-eyed in your opinions and your negativity can not be of any assistance to anyone. You are not just providing information but trying to put everyone off and bring them down so you can benefit financially. That is not what anyone needs.
If I was a “Yank”, would that be a problem for you?
I think my email should extend to here as well.
Have fun.
Robert Bou-Hamdan
Mortgage AdviserIt is pretty difficult to service a debt when you only work part time. The biggest problem would be faced if you got a loan and the tenant vacates.
When lenders look at serviceability, they make an allowance for living expenses. This usually eats up most or all of a part-timer’s income and leaves nothing else to service the loan.
You might be able to do something with a family member or close friend / business partner but I would recommend waiting a little while longer until you earned some more income and had some more knowledge regarding investing.
Robert Bou-Hamdan
Mortgage AdviserAmused, your post is very difficult to understand but can you just clarify if that was directed at me?
Robert Bou-Hamdan
Mortgage AdviserI don’t see the point in having the property in your name anyway when she gets all capital gains when it is sold. What happened to the proceeds from the sale of your 4 properties?
I don’t think it is a good move to transfer the property in any case.
To avoid mortgage insurance, you have useable equity of $30,000. After transfer costs, this will drop to about $15,000. You can not buy much with $15,000 to cover deposit and closing costs.
Assuming you wanted to go to 90% on the refinance, you have useable equity of $65,000. Take out the $15,000 in transfer costs and the $5,000 odd mortgage insurance expense, you have $45,000 left.
Assuming you wanted to buy something else for only $200,000, you would need about $50,000 for deposit and closing costs to avoid more mortgage insurance.
As you can see, you will save at least $15,000 and possibly the mortgage insurance if you can get by without having the property in your name for the sake of it.
Robert Bou-Hamdan
Mortgage AdviserUnfortunately, the law requires all offers to be passed on to the vendor in NSW. I am not certain if this applies in all areas of Australia but I imagine it would.
Robert Bou-Hamdan
Mortgage AdviserIf there is trust in the relationship, why will your mother in law not just let you use the equity and you pay her loan for her (assuming you can afford all the finance)?
How much is owing on the property anyway?
What is the property value?
Is there even enough equity left after transfer costs?
Are you a first home buyer and which property will you live in?Robert Bou-Hamdan
Mortgage AdviserDo they have an equivalent to a NSW Chamber Magistrate in Queensland. They are extremely useful here with getting things done and they are FREE!
Robert Bou-Hamdan
Mortgage AdviserGood post resiwealth!!!
I was trying to convey that regardless of all the doom and gloom stories everywhere (especially here from dmichie), some good stories can come out. When I am driving and come to road blocks, I look for detours. I guess that most ‘positive’ people (and I don’t mean people who are bullish) would be also looking for the detour amongst all the road blocks. If they cannot find a detour, they will find another way – eg: cross-country or walking.
Robert Bou-Hamdan
Mortgage AdviserOriginally posted by Rodsway:you never returned my email rob.
Just to address this again…
I received an email from you on Saturday 30/04/2005 at 1:14 am. I responded on Saturday 30/04/2004 at 1:54 am according to my records. Would you like proof? Did you not get my reply?
Considering the day (night) and promptness of my response, I think I did pretty well. I did a search and have received no further correspondence from you.
Robert Bou-Hamdan
Mortgage AdviserAn interesting article appeared in Australian Broker which I received today. It is about BDM’s or RM’s and what they dislike about brokers. It comments about:
– Repetitive or stupid questions
– Incomplete enquiry forms
– Not being contactable
– Requests for marketing support
– Mass e-mailing, then going with the competitor
– Providing insufficient informationI found the article rather amusing especially the not being contactable problem.
Anyway, it is good to get both sides of the story.
Robert Bou-Hamdan
Mortgage Adviser
