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  • Profile photo of Robbie BRobbie B
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    @robbie-b
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    WTBnow…

    A major point missed is that it is better to use a solicitor.

    Regarding your complaint, there is a precedent you can use from the Supreme Court of New South Wales.

    The case is Bou-Hamdam v NRMA Insurance Limited and can be viewed at
    http://www.austlii.edu.au/cgi-bin/disp.pl/au/cases/nsw/supreme%5fct/1998/564.html?query=%5e+bou%2dhamdam

    YES, spelling mistake aside in the appllants last name, this case is about me.

    Basically, the following was held:

    “While judges are entitled to take appearance and demeanour into account, common justice requires that the matter be brought to the notice of the parties, so that they have the opportunity to deal with it in an effective way. This was not done. The findings on credit made by the trial judge clearly had serious implications for his assessment of past and future economic loss and of non-economic loss. As a result, there has been a miscarriage of justice which can only be remedied by a new trial.”

    This also made the newspapers and television. It was a good win for those discriminated against as a result of appearance.

    Good luck and let me know how you go.

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    Profile photo of Robbie BRobbie B
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    @robbie-b
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    I would tend towards borrowing against your property in Australia to buy the one in NZ if there is enough equity. I would not use a LOC.

    Reasons for this…
    * LOC is usually more expensive and there may be tax issues
    * Australian interest rates are lower
    * Cancels out any exchange rate risk on your borrowings (not your rent return)

    If and when you decide to purchase more property in NZ (and you have no more equity in Australia to use), you can use your NZ property to obtain the funds to use as deposit and closing costs on further purchases over there. At least you won’t pay the higher rates until you have to.

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    The poster formally known as The Mortgage Adviser

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    Profile photo of Robbie BRobbie B
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    @robbie-b
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    Sorry Terry, I will stop now.

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    Profile photo of Robbie BRobbie B
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    @robbie-b
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    Sorry Way for my inability to be constructive… my intention was to determine which shares were being compared to what type of property.

    In any case, you can actually leverage MORE against SHARES. How do I know this? Well, I bought $100,000 worth of shares in November for $0. Ongoing cost is the interest repayment which is slightly higher than the interest repayment on a property loan (about 1% – 1.5%). No stamp duty or legal fees and I even got the brokerage fee waived so there was zero entry costs.

    I think it comes down to ‘risk profile’. Shares are a LOT more risky than property.

    I would consider property AND shares. A diversified investment portfolio is always a good thing.

    How is that for constructive??? :)

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    Profile photo of Robbie BRobbie B
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    @robbie-b
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    No offence to anyone, but why do so many people from here direct people to Somersoft. Are they not in competition to this site?

    I may be biased seeing I got banned from there for being me! :)

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    The poster formally known as The Mortgage Adviser

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    Profile photo of Robbie BRobbie B
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    I am withdrawing from all standard loans in preparation for interest free stuff. Quiet for me.

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    Profile photo of Robbie BRobbie B
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    @robbie-b
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    And then take all your income when you leave.

    I left because they tried to prevent me giving out software to brokers from other organisations. I created the software but they tried to say it was their property. They must have forgotten that I was a subcontractor.

    I guess I was only a subcontractor when it came to tax time and being paid but I was an employee when it suited them.

    Oh well, enough said about Aussie or I may get that subpoena in the mail.

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    Profile photo of Robbie BRobbie B
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    @robbie-b
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    I am just wondering if anyone has found that definition for cross-securitisation yet????

    ANYONE????

    TERRY?????????

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    Profile photo of Robbie BRobbie B
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    Another fact!!!

    John Kolenda, former third in charge of Aussie, left and started up in competition.

    Aussie reminds me of a ship on fire with the rats abandoning ship.

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    Profile photo of Robbie BRobbie B
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    They are probably recommending a bridging loan because you would not service the kind of loans Terry is advising. Doing this would force you to sell your home at under market value as the deadline draws near.

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    The poster formally known as The Mortgage Adviser

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    Profile photo of Robbie BRobbie B
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    How long is a piece of string?

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    Profile photo of Robbie BRobbie B
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    @robbie-b
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    Have you ever looked at my website??? Click on the splash page to enter the site and look at the banner at the top… in case no-one noticed, my bi-line is….

    “…we’ll REALLY save you!!!”

    I am not worried about John or anyone else for that matter. I tell it how I see it without fear of reprisal.

    You can not be sued for telling the truth. Aussie Mortgage Market (owned by John Symonds) owes me about $40,000 from over a year ago. He is a rip-off merchant and it is the reason why he has the highest broker turnover in the industry. I am just happy I realised it sooner rather than later.

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    Profile photo of Robbie BRobbie B
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    That is all that matters… as long as YOUR property is ok!

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    Profile photo of Robbie BRobbie B
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    Sounds very much like what I am doing except I am using a single Trust.

    I would have put up a table but Admin took away the ability to link through to tables etc when certain members complained about my previous signature being too colourful.

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    Profile photo of Robbie BRobbie B
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    @robbie-b
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    I am totally against cross-collateralising.

    It does have instances where it is needed though. An example is where you have one good and one bad security. To get the finance approved for the bad one, they will want you to cross-collaterlise.

    The reason for this is that when properties are ‘crossed’, the lender, in the event of default and they take possession, has the right to sell ‘the most saleable security’ to recover their money. This means the good property will go first.

    Avoid it if you can.

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    Profile photo of Robbie BRobbie B
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    @robbie-b
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    Originally posted by terryw:

    Whatever.

    Why were my comments about this deleted?

    It shows good experience by Terry. I think Terry’s earlier comments are much worse than this!

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    Profile photo of Robbie BRobbie B
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    @robbie-b
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    More information would certainly help. Will you get this?

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    Profile photo of Robbie BRobbie B
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    @robbie-b
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    What Mick said!!!

    It would be easy to increase your loan if you service. There are options if you don’t. Expected rental income from the new purchase can also be used to help with servicing.

    Good luck.

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    The poster formally known as The Mortgage Adviser

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    Profile photo of Robbie BRobbie B
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    @robbie-b
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    My comments were in reference to lenders.

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    The poster formally known as The Mortgage Adviser

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    Profile photo of Robbie BRobbie B
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    @robbie-b
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    Just because it is common does not make it a correct term. It is only a common term because the industry shows you a professional courtesy by not correcting your error and embarrassing you. Of course people in the industry know what you mean when you say it. It just shows your poor attention to detail and I thought I would try and help you out so people don’t laugh behind your back when next you say it.

    I would gladly apologise for my comments and take back all I have said should you be bothered to find a real definition for cross-securitising. Pulling out and saying you will say nothing more on the topic only demonstrates to me that you had no success in trying to support your comments.

    Anyway Terry, I think it is pretty obvious what my experience is.

    Remember, I would like nothing more than to be PROVEN wrong here so you and the other knockers here can call me an idiot and my credibility goes out the window. I will even post in the largest, boldest, brightest red letters I can that “I am an idiot!”

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