Equity (other than winning the lotto, a sharemarket lucky windfall, a generous gift, or being 'left' something in a will) is about the only way you will ever have funds for deposits, and property purchasing, developing, or improvemants – so yes, that is the way to 'get ahead'. But as already mentioned, that is only 2/3's of the battle – you still need to be able to 'service' ( repay without hardship) the debt, as well as the interest on the equity if you borrow more. Do you mean you cant afford the repayments on your home loan? Or on another investment loan? You have to live somewhere! Naturally, on a new investment loan the rental payments cover (or ideally should) the significant portion of the interest on the loan – and that is the type of property you would need to buy if you don't have much in the way of income to service the loan.  Cheers

Even if you cant charm them, they do have up to $200 discretion on the base variable rate home loan (a lot of their managers would be oblivious  'cos they don't read much and are too busy reporting daily on their insurance sales, how many conversations their bankers had, and how many proactive phone calls they made. It is $600, less $100 if you have a nab card, and another $100 if you have your salary direct credited into a nab account. Good no frills loan, but their choice pack loans are still the way to go if you have more than $250k combined borrowings and need accounts/cards etc. All the best. 

I agree banker with the gist of what you are saying – however imagine the scenario (and this one was not CBA) where credit say they are happy, and then come back to you 3 weeks later and say they need more info when the client is wondering why he has'nt got his docs yet a week before settlement! ! I've seen some terrible treatment of customers from the majors, (two of them first hand) and worked with staff from most of them, and am confident that more often than not it is not the banker/broker/customers fault – but the 'back office' systems used and the sheer understaffing, offshoring, and lack of real decision makers in the branches. It seems too that credit/verifications/ and other back areas of the banks dont even play by their own rules that are in their current lending policies either!  I also agree though, that dealing with someone that has a lending or credit authority of somesort, defiantely speeds things up and minimises issues – such as a business banker.   Last year, I was able to help the manager I worked with assist a broker with a clients deal that the CBA had taken 7 weeks to decide they still were'nt ready to settle. The bank would not talk to the broker, or the customer (who was an exisitng one too) and we grabbed the deal (which was quite a strong one) & did it from assessment, to documentation, to settlement within five days.  Pretty full on though!. HOpefully things are getting better now all round though. I believe you can get a worstpick (wetpac) loan approved pretty quick now, as they dont have many on the books…..    

Cheers 

Hi op9. Big believer in relationships – whehter it be with your bank, broker , or credit union. If you have one of the aforementioned you bank with or are comfortable with I would suggest seeing them first. If no joy, then it's open slather. All the best.  Cheers

I can see the reserve bank simulating their monumental 2007 stuff up all over again – regardless of the actual rate. Sad but true……Leave rates alone and hike up the income tax I reckon…..

Hey Jaffa. Your old NAB business banker may still look after you……discreetely. Unfortunately all NAB busineess banking  homeloans are off shored now for input, so no 'on the spot' results……., but you should get an answer in a couple of days still – and they do have the best rates of the majors. That said, if you apply through the retail side, and are nice ' n friendly, I'm sure you'll get a $300 app fee on a basic variable homeloan, or if you have exisitng lending, swap to the choice package and you will have ;'no application fee'  on your new one other then the $395 annual fee.  All the best with the deal. Cheers.

Hi Mr. Property.
Just been helping family freshen up an apartment in Stkilda and Elwood – and if they had bougth 1, 2, or 3 years ago they would have been laughing all the way to the bank……….and I think they still are. Only just bought, but a very tight, hot market. Not much under 500-550k at all there – and what is is rugged. Not sure where you get the small cap growth idea from.Hope that helps. Cheers

Hi Selina – and welcome to the forum. I think it is not that they are sexist, but ignorant …. Seriously, there are many girls/women right into property investing and construction in a big way nowadays, and it would be an idiot to overlook that.  I think you will find that it is natural people tend to focus there attention on the older person sometimes however. Maybe next time you are in earshot  of the re agent, with your dad try saying ' would you like me to buy this one for you dad?
IT's ironic that the average RE agent would have about 1/4 the properties you do too isnt it!
And I've just replied and notice you addressed your post to ladies – of which I am not – sorry!

Cheers

Yeah, Dads on the money there. All the best – you sound like you know what you're doing!

Cheers

Hi guys,
Just felt obliged to say Matt007's comments were brilliant reading – and what this forum is/should be about. Love being positive, but you have just got to be practical and realistic too.  Great stuff.

Cheers