JackFlash wrote:
Anyone who takes a considerable fortune and literally halves it in a few years is not someone anyone should follow as any sort of example whatsoever.

In reading this thread (about 3 x glasses of 'Red Truck Shiraz' worth) the above comment got me thinking about a guy I used to work for many years ago that we made a joke about…[Read more]

Hi Paul,Sorry to hear of your circumstances.Re the loan / mortgage, unfortunately this happens all to frequently, and cannot always be resolved – the main issue I have seen is that the remaining partner has to be able to demonstrate loan serviceability without hardship and still meet all the other cost of living. THis means sometimes, even if the…[Read more]

Hi Sha,You cannot claim the FHOG if you have ever lived in a property that you have owned – even if it was originally an IP. If buying an IP, and you want to claim the FHOG on another place later, do not even think of moving into the IP at anytime in the future or you've lost the opportunity. It is all on the OSR website – osr.gov.auCheers

Hi Keiko,If you have a tenant in already, and a lease in place, they will (should!) take this into account when the commercial valuation is done. In most case they would use a professional 'panel valuer' for a commercial property, but even if not, the rental on an existing tenancy lease will be taken into account.All the best with the refi.Cheers

hi Jean,As mentioned you will find that the banks settlement are will have the exact wording that they require, and usually if they know it is being signed under POA will prepare/stamp the loan docs accordingly. Been a little while now, but from memory it used to refer to a 'Book Number' in NSW. Depending on the lender, some will also want to get…[Read more]

HI Johann,Good on you for doing some trimming with the expenses. Actual cashflow is one of the biggest challenges for small business, and plenty of skilled business people/tradesmen run into all sorts of trouble as a result of this…..and the fact that many of their customers try and use them as a bank, rather than paying them when they should,…[Read more]

hi Macca,Firstly, not sure if you were thinking of buying in Canada based on that post after yours?? Seriously though, it is good to avoid selling an asset that is performing well unless you have to. You have plenty of borrowing capacity, and of course rental (or proposed rental) you get from the new or proposed property is used as income when…[Read more]

Yep, it is no different to getting any other type of loan. That said, if you are looking at restructuring any of your home loans, often you can get a 'pre-approved' credit card as part of the process, and a good bank package will allow you to pay no aanual or rewards fees on the cards either. Makes sens to do it at the same time if you can.Cheers

…and don't list it with an agent that has  the words FIRST or NATIONAL in it's name in any way shape or form   Cheers

Hi teds01A residex report on its own is a bit like a vegetarian being given an uncooked rump steak. Seriously though, why do they want to do anything, what do they want to do, what are they trying to achieve?Is it rented out with a stable tennant or is it empty? Are they trying to release equity or use it to by another place? BIt more info and…[Read more]

Hi Kane – you're spot on.It is an absolute joke. The only guarantee out of the whole farce is that choice will make a lot of commission – as for any lender that 'wins' there is no g'tee they would get one of them, and each one has to be done individually anyway. I think CHoice have finally confirmed what most people knew all along……they are…[Read more]

If you are a very busy person, and not prepared to do any research, a good (empahisis on good) broker can definately be a good idea – and it does/should cost you nothing. That said, a broker is simply an intermediary, and unless in the minority that has a special relationship with someone at a major bank, usually via a dedicated Broker manager or…[Read more]

Good stuff…….." It's hard to arrive at your destination if you don't know where you are going''  (unsure of source) " If it doesn't kill you it makes you stronger"  (me & others!)" If you love money you will never be satisfied; if you long to be rich you will never get all you want" (Ecclesiastes 5:10 – Today's English Version)"The best th…[Read more]

Hi John,Yep, credit unions simply don't cut the mustard on anything other than bread & butter one or two loans if you're game and you use a bank for all your transactional stuff.Re packages, absolutely great value for money – assuming you use the lender for the majority or all of your other banking including rewards credit cards in order to…[Read more]

Shape wrote:
It sound like your using your own cash for the 10%…. then your applying for a 100% finance from equity release/X-cross etc.. If that's the case, then No you won't get your money back as the bank will not subsidize you for your part….they will only finance the purchase directly Regards Michael

HI,If you have paid the…[Read more]

Please John also be very careful with the building and pest report clauses – many agents insert (to keep purchasers happy) "subject to building inspection" but that is not worth a cracker. You must make these reports "satisfactory to purchaser" or similar. Some agents take the liberty of 'looking after you' by adding 'subject to building…[Read more]

Hi Mitzu,In NSW the solicitor or conveyancor holds the contract once it is signed, and does not 'exchange' it until you OK them to do so, for example once you have finances in order, (ie unconditional)  and inspections done etc. Whereas some other states of course are a bit different.DOn't be worried about waiting until your solicitor looks at…[Read more]

brendogs wrote:
Thanks for the response v8ghia Why do you say to avoid those particular areas?

Every where has them – but these are the areas you would either not buy in, exercise caution when buying in, or do a lot more due diligence. Not to say that there are not some really nice people & places living out that way. That said, you need to…[Read more]

Hi katsudon,If you've moved to Tassieyou have to live somehwere, so it makes sense to buy. But like anywhere, if investing, you will need to look med-long term and buy carefully at the moment. There is always good deals to be had, but great deals are less common. As far as Queenstown goes, I cannot see any value in buying an investment property…[Read more]

Unbelievable Terry. Must admit though, that while I have had good experiences with some agents, some should be quite simply jailed. The three worst experiences I have ever had, which include ambiguous contracts, deposit issues, and blatant dishonesty (requiring commissions as 'deferrred advertisign levies' once the sale period has expired and they…[Read more]