Hasn't the Melbourne comedy festival just finished?

HI mitchperth.

Dont sell unless you have to. If you have a good payment history on your loan, I'm sure you will be able to easily refinance with a more suitable lender – unless you do not have much equity in your home.  I recently assisted an older couple to get out of one of these AMS loans, and even though they were 'tight' repayment wise, I got it approved based on their conservative LVR, and strong history -even though they were 'technically' over committed. If you sell, you have to buy again, and you have the 'crimianl' stamp duty to pay the govt. If you have had your loan with WIzard for more than 4 years, you will have either a minimal or no exit fee at all.  GO for it – the quicker you leave those guys now the better. AMS are care factor zero in client retention, and as you pointed out are well above even the so called 'standard' bank variable rate.  ANZ, NAB, your local credit union, or a good broker that is experienced in dealing with the 'big 4' will easily assist you I'm sure.
All the best.

DWolfe wrote:

Hey Ghia, maybe we are all now super important people. I know I already was LOL!

I'm a legend in my own lunchbox.

Hey D – I think I pale into insignificance beside yourself – and since the GFC I had to sell my actual lunchbox to keep my IP's!

All the best with whatever you are working on!  Cheers

Hi slipper,
Yep, I was talking about shorewell park. There was not one agent who even remotely encouraged us to look there – as of 2005/06. Although many acknowledge that houses used to be 'only 30 grand there, and now they are close to 100!!!' – and from keeping an eye on what median growth I have been able to it appears to have outperformed most other areas. Your comments would explain a lot of that though – thanks. What areas (on a map or a few street names) would you classify as the new subdivision out of interest? (have not visited for a little while)
Gee there was some stuff in east devonport that looked good value for money on the internet – but when I did have a look I was disapointed. I'm sure there are some gems there though, and being local you obviously have a handle on things.

Cheers

Ah…. to write in a style like your experience Ben is a true gift. A great read regardless of your bonus & the dogs outcome / intelligence level. Thanks for the laugh…Cheers V8

Hi Craig.

The method you mention IS the best way to pay of a homeloan – assuming it is contracted as monthly payments. THe only way you get the 'true' fortnitely payment you mention, is if the loan is actually contracted fortnitely or weekly instead of monthly – (not something I recommend, but many people 'demand' as a result of misunderstanding how things work. If you do not like the repyamnets how they are set up, simply just have the monthly contracted loan payment amount come out ….monthly!.  You wont pay it off any quicker, but you will be making payments 'effectively' as you wish.

Cheers

Yep Mr A – crj is spot on – this is why the final inspection of the property is advised the day before settlement in most (if not all ) contracts. IF it is sold as vacant possession, and is not vacant, you do not have to proceed on the day, and there is no penalty to you. THe vendor is the one who has 'breached' the contract. It will be in his/her interest to get them out quick smart. All the best – must be stressful. Cheers.

I think this is heavily dependent on what (if any) other services you do or plan to have with that bank. A couple of bucks extra a month for interest pales into insignificance if you are saving money on credit card annual fees, rates, or monthly account fees. NAb have the best rates and a great package product, ANZ seem good 'all rounders', CBA will lend at very high 'borrowing ratios and are the next best in rates, and westpac……um, ok forget that one. ANZ & NAB (moreso) are terrible with their 'offshoring' both for staff and clients alike. ING & Bankwest might be ok for a 'stand alone' lona with nothing else?   That help Keiko?  Cheers

Benjamin Csikos wrote:

I'm going!

http://www.youtube.com/benanaman

This is what I look like, you're welcome to spot me in the crowd and say Hi

Brilliantly Immature – loved it too!    Cheers

You need to quick smart get a decent broker that has access either to a business banking source from one of the major banks, or someone like some of the credit unions who have someone there that can make a credit decision – not look at the computer screen. Alternatively, if you can keep it 80%lvr or under I cannot see why you would have difficulty based on the information supplied – other than the rush. Firstly see if you can get an extension – then check out the other area  If no joy, door knock lenders in the catagory I mentioned first – and talk with them to get their thoughts before they do a credit check. Please keep us posted. There may be others on the forum closer to you that could help. All the best.