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The Interest Savers provide a program specifically for checking info such as this. It is advertised as a program specifically for beginners and that’s exactly what it is.
If you have Excel skills then you can do it for yourself but if not then this program may be for you.You enter each months values from your statement and the program tells you what the error is.
they provide a couple of letters for you to use to mail to your lender.I believe it is to brain child of Kevin Nowland who delights in proving the banks wrong. You may have seen him on TV
Their guarantee is something along the lines that if you dont find an error then they will refund the cost of the program which is around $200 (dont quote me)from memory.I bought my copy through Mortgage watchdog: http://www.mortgagewatchdog.com.au/
cheers
Sallyrthe QS that I use have a guarantee that if you dont get the cost of their as a tax deduction in the first year they will refund their fee. So you cant loose.
check out-
http://www.depreciator.com.auQuote from their web site:
“We even guarantee that you’ll get MORE than our fee in the first full year of deductions OR you get your depreciation schedule FREE! and you can still use it in your tax assessment.”Lots of useful info there too
cheers
SallyrYou asked:
How do banks/lending institutions feel about independent valuations to gain finance?
Not sure how it works in WA but in NSW you can get your own val. but generally they wont take it into account.
if you have a good mortgage broker who has a good relationship with your lender he can put a bit of pressure on them ( assuming your val comes in OK)
but they will get their own valuer to do the val for them and you have to pay for it.one way is to find other similar properties whose recent sales reflect the price you want and forward them on through your broker. It can help.
regardssallyr
I would be interested in speaking to them if they would like to talk to someone about it
sallyr
When you apply for another loan the total amount available to you on your LOC is counted (whether or not you have used it).
So there is a subtle difference. You would be, in effect doubling up on the borrowings amount of $40,000 ( in their calculations) if you asked the second lender for that amount of money.
However if your borrowing capacity can stand it then many borrowers take that and save their LOC for later.
Also: I have been advised not to cross colateralise.Just my thoughts
Sallyri have always bought a Residex report for every property that I have purchased in NSW. ( They werent always available in QLD)
The $60 (?cant remember the exact price) saves me time that I cant afford and does the comparison research in the area for me. it also gives me their calculated price that they think the proppperty is worth. this is based on their statistical data. Not a whim or a guess.if you have the time you can do your own research & comparisons, but I choose to buy it from Residex. Worth every cent IMHO
Sallyr
