hey guys thanks for all your input.

as you’ve mentioned I just saw the vtcu rates rise to 6.73%.

its still cheaper than westpac at 6.81%, plus if they hold off the increase a couple of weeks everytime there is a little more to be had there.

any thoughts, or other options that I should consider?

thanks.

thanks for the info Julie.

My house is insured for 375, 000 (although it would sell for 310 max) and my contents insurance is 30K.

For this I am paying $815 annually. Does that sound about right?

thanks,

Mike

Originally posted by Mortgage Hunter:
Were the Seminar folk actually selling the property or offering to source it for you in the guise of showing you how to create wealth?

This is a Red Flag in my experience.

I was on the look out for that sort of thing and thankfully, no it did not occur at all.

Only Edmonton was mentioned at the siminar,…[Read more]

Originally posted by specific:
Don’t give up yet!

I think compared to Melbourne/Sydney there are often better yield properties at a lower entrance point to the market up here.

The areas you mentioned are areas with potential and sitting on a property here is easier on the gearing than elsewhere from our research.

PS Who is Ed Burton? (pardon…[Read more]

Originally posted by specific:
Hello,

Right up our neck of the woods….

Thanks for the reply. Its good to hear from someone who’s in the thick of it.

So it sounds like it used to be the go, but is tapering off now. Shame that.

Thanks for the tips on the apartments, but I’m looking at houses exclusively so its not a worry.

Thanks again.

We’ll I saw the e-choice guy tonight. He seemed like a pretty knowledgeable fellow. Although he didnt like it when I mentioned that I’ll be getting second opinions.

After I explained what my needs were (https://www.propertyinvesting.com/forum/topic/20043.html) he came up with two loans that he thought would be paticularly suitable.

The Bank West…[Read more]

Originally posted by Mortgage Hunter:
e-choice are Mortgage Brokers according to their website. They don’t lend their own money just help you find a loan. They are paid a fee by the lender for bringing your loan in, that’s how they make their money.

I have never heard of e-choice. Let us know how you go.

thanks for clearing that up for me,…[Read more]

Originally posted by Mobile Mortgage:
Keep in mind you and your girlfriend will need to qualify for finance independently, i.e. One income per loan.

And there is the curveball. I VERY much doubt we would individually qualify for the loans as our incomes are very low .($500 after tax per week)

If I used my parents 340,000 owned house to…[Read more]