Stu,

Hi!! So I gather from our past discussions and what you have posted here, when it comes to events in your financial history, lenders only ever look at the last 6 months. Am I correct in saying this?

In terms of credit enquiries, yes the past 6 months is the most relevant to the lenders.

Cheers

Stu

NAB are fine with all structure and re-valuations as long as you push and speak with the right people.

If anything I find them more flexible.

Cheers

Stu

Hi Seb

The problems arise where someone has a lot of credit enquiries within a short amount of time. It raises the mortgage insurers/lenders attention and could be due to a borrower “shopping” an application around (e.g. getting declined and going to the next lender).

If you can explain the enquiries (e.g. pre-approval, purchase, etc) then they…[Read more]

Thanks for your comments Kay.

I have uploaded a copy onto my website.

See http://www.prosolution.com.au/articles/unlimited.pdf

Cheers

Stu

AFG were unprofessional and disorganised. They couldn’t arrange anything. Their commission processing was poor as well. Overall, a very poorly run business. They are more concerned with getting more business rather than quality (hence the difference in admission quality). They’ll take anyone!

Cheers

Stu

I use PLAN. They are great. I would strongly recommend them. When you are starting out look for the one that is professional and will help you.

I have used AFG and they were crap!

Cheers

Stu

Yes. From 1 July 2004 mortgage stamp duty does not exist for anyone in Vic!

Cheers

Stu

In some States you have to pay mortgage stamp duty again (QLD) – there is no exemption. However, there are some concessions for home loans.

If the borrowers or security to the loan change then you may not be entitled to any exemption.

In Victoria there is no more mortgage stamp duty as of tomorrow.

Don’t rely on your broker – call the state…[Read more]

Hi, just a couple of questions regarding mortgage insurance.

Is mortgage insurance a one off payment only?
Yes, it can be added to the loan.

As if you own a house for $100k, you paid 10k deposit, after 2 years you have paid off another 30k, can you re-draw back up to your limit (90%) for a deposit on an IP, and not have to pay mortgage insurance…[Read more]

Kay, My comment was that Steve had a thread on the forum advertising his finance section. I had a problem with this because advertising is against the forum rules. I know he is the owner but I think its best to maintain the integrity of the forum (and moderators spend many hours doing this).

I have no problems what so ever with Steve advertising…[Read more]

Welcome NZ Mortgage Broker

So this post isn’t construed as advertising why don’t you tell us more about the product (rates, fees, etc)?

Cheers

Stu

And just for the record (to back up the people that referred me), I am a Chartered Accountant and ProSolution holds a Australian Financial Services License (from ASIC) and we are licensed to provide general product advice (refer to our website).

(I am not stating this to advertise. I just want to back myself up.)

That said, I do not provide any…[Read more]

[] [] [] [] Please… (thanks for the compliments)… and welcome back AD.

Cheers

Stu

Correct. They must give you a Comparison Rate Schedule… but not for line of credits, investment loans and pro packs.

I.e. only for home loans.

Cheers

Stu

Wouldn’t that cover off loans with a short term of 1 to 2 years? Ie. maturity date is normally 30 years away so it wouldn’t affect most loans.

Cheers

Stu

Firstly Rob (or iambored), I don’t think you should be posting lenders manuals in a public environment. I’m sure St George would not be happy.

Secondly, there is DEFINATELY post code restrictions with the 100% loan. I know this from experience.

Apartments with greater than 3 levels and apartments is certain post codes are out also.

Email me if…[Read more]

I have hardly had any problems with NAB vals.

Yes, they have some weird standard policies but they will do the same LVR’s as other lenders (i.e. they will generally ignore internal policy).

I think they changed max LVR for invt from 80% to 75%.

Cheers

Stu

Yes, this arrangement is yet to be contested by the ATO (as far as I am aware).

Cheers

Stu

Thanks Del.

Cheers

Stu

Sis, I did some Corporate Finance work for St George when I was at Deloitte and I can’t see it happening. NAB was going to be the most likely bidder but they are in no position at the moment.

I agree with Rob that it would have considerable ACCC issues if one of the Big 4 banks offered.

The only reasonable potential purchaser would be a foreign…[Read more]