I dont understand why you just dont go through another major bank, as the LVR is under 60%.

How would say Westpac, Commonwealth, St George, etc know that Special Agent has been declined by ANZ?

I understand they could see that an application was lodged with ANZ on their Credit Report, but my question is how would these big banks know if he/she…[Read more]

funny thing is what your saying there is pretty similar to what is happening to a friend of mine. thats why i raised the question.

he had finance approved for owner builder, and has just put down the slab. now he needs more money, he went back to the bank and not only did they say no more money, but they said now they can only go to 60%.

i like…[Read more]

cool thanks

dont know why banks dont lend more.
think about it, owner builder houses costs less to build than licenced builders, so really the end product which is the house will be worth more.

does that make sense……….or am i missing something

Qlds007 wrote:
In saying this of course the lenders attitude is that you would still be completing your Business Activity Statements even if you Tax returns are not upto date.

that line just pretty much answered my question………thanks

if they do it like that, would it be Cross Collaterised?

isnt a Low Doc loan for someone who cant provide financials, and cant prove their income to a bank?

i dont really understand. if a person can provide their BAS statements, doesnt that show what their income is?
so why wouldnt the person going for a Low Doc loan, just go for a Full Doc loan?

or am i not getting something?

oh ok, sort of understand haha

sorry for getting mixed up

Qlds007 wrote:
>Whatever anyone on the forum tells you no lender will allow these days a 10% second mortgage as proof of your deposit provided by the vendor so unless you have actual real savings you will have an issue.

so what your saying is if you have a LOC on a property of say $50,000 with one bank. The other bank wont allow that LOC to be…[Read more]

you should be able to increase your funds with Macquarie if you are an existing customer, in fact i know 100% they will.

one of my best friends just increased his current Macquarie loan by a further $120,000. and it was no problems.
although he still had to give payslips, application form, etc but it was done quite easily over the phone with Macquarie.

what is the difference between;

– Discretionary Trust
– Unit Trust
– Family Trust

or are they all the same?

Qlds007 wrote:
In essense the saving is identical but from a Tax perspective they are a miles apart

yep understood the whole tax part…………but you just cleared the whole saving interest part for me, thanks again

ok cool, thanks for that

so essentially they both work the same way in reducing your mortgage……..thanks again

so what about an Offset account on a PPOR…………is it better to put surplus funds onto the loan account, or into the offset account?

or does it not matter?

i ask in terms of reducing your mortgage quicker

Terryw wrote:
JadlakWhat you could do is to set up a separate LOC. Use any property that has equity, it doesn't matter which.You then use this LOC to pay for all investment expenses. ie you borrow to pay expenses such as rates, insurance, water etc etc. This will free up your cash to pay into your offset account on your PPOR. It may free up a…[Read more]

Qlds007 wrote:
Course i have no problems in telling you.NAB thru their 4 Star Brokers and Collins do a 95% No Gen Savings amongst others thru their approved introducers.

cool thanks for that.

never heard of Collins, and i suppose people have to make sure they use a broker who is 4 star with NAB

im going to ask who Richard, but i have this feeling you wont tell me

Suncorp also do 95% dont they?

speaking of NAB, what is the difference between;- NAB- NAB Broker- Homesideor are they all the same?

so confusing……i dont know how you guys keep up with it all

it seems you guys in the East are way behind us in the West…..as usual All brokers are fully licenced in WA, well meant to be anyway.so does that mean they already fit into the category of being compliant and allowed to give advice, etc?