Mmmm. I've fine with '100% finance' in the sense that people finance 100% of the purchase by using a 10% deposit via existing equity, but a straight 100% finance deal is a frightening concept at present – if you really can get one. It does call for evidnece of a strong savings plan and stable income though (as you would expect) and is likely to be owner occ only. Have not read the article, so can only generalise but trying to buy a $300k home with 100% finance in nsw still requires about $20k + in funds for LMI and S/D anyway. I think unless someone has a 5% deposit min in these cases they should….

1) Keep renting

2) save /work more

3) Look at buying (and thus moving) somewere cheaper.

4) Perhaps not want a  house like 'mum and dad have' for their first home.

5) if you don't liek any of points 1-4 an must proceed, DO NOT even THINK of doing it without income protectio insurance of some sort.

Cheers

One of the positives about this forum is the  huge cross section of both experience, investor types and strategies, and ability to both read and ask.
Enjoy!

PS I never could quite grasp this alphabet business.

Basically, although you said they were 'unhappy' is this the reason they have asked you to leave, because of your puppy, ot have they just said they want to move into the house and want you to leave? Not sure aobut the dog, but if it is the latter, I believe they cannot just break the lease agreement. SOmeone in property managment on the forum may be ble to help you further with this info. Cheers

I'm going to humbly offer some words of wisdom – NEVER EVER cross secure properties for any reason UNLESS you only even plan to buy two, and are never going to sell either of them!

With what can be quite severe decreases in property values, you will not be allowed to use the sale proceeds of a property that was cross secured as you would like – and while there are plenty of bankers/brokers/lenders/whatevers with more hands on experience than I have (or will ever have if I get out of the industry – sooner rather than later I hope!) when a property that is cross secured with another is sold (much worse if there are 3 or 4 done this way) it is an absolute nightmare for all concerned. Tears all round.  Really. Regardless of the bank, a good lender would never normally suggest crossing your properties (bank managers do not have a lot of hands on lending experinece often remember – either dare I say the vast majority struggling to pay off their own pmortage, and no investment experience whatsover) together if you share your investment ideas with them, and a capable broker should not do so either – excepting of course the above scenario.  Of course, this is purely my opinion, but maybe you shoudl either look elsewhere, or mention that you are and that 'the ANZ will do it' or "I've spoken to th CBA' whatever, and I'm sure they will come around. All the best.

Cheers 
 

The last evap system I used was a new bonaire – and it was ok as far as noise goes, and could be almost silent. Bear in mind there is a difference between the 'drum ' type, and the 'blade' type. I think the drum is better, quiter, and more effective. Obv if running flat chat they will all be noisy. Cheers

Congratulations – you are in a much better position financially than many.
With your projected disposable income, within 10 months you can acheive one of the below things.
1) Pay your car loan off completely
2) Have a 10% deposit for a $140k IP. A bit of skimping here and ther will no doubt allow you both to have 'closing costs' too.
10 months……it will fly….start planning (and saving) now!

All the best

I may as well contribute a bit of a summary of the above with a few thoughts…
1) Usually people that 'wait' for the market to be 'best', never actually get into it.
2) Re prices – I thik a lot of people are fussy, and I can see a gradual exodus to areas where house are more affortable. It makes sens if you want to own your own home and maintain a reasonable lifestyle.
3) For investment, regardless of where the so called property cycle is, there is always value buying around – sub $150k, or otherwise – all depends what you can afford – and how much neg gearing you can service. It is a type of 'forced saving' after all.

Investing in property IS a good time now , as is getting outside your traditional 'comfort zone' a bit – however speculating on sudden jumps in value, rennovation projects, gambling, buying off the plan, overpriced surfers paradise units, and not doing a bit of good old fashioned due dilligence……..is what shouldbe avided now!

all the best on your (our?) journery…..

Wizard do not have any loans with an offset account – and nothing spectacular that any of the banks do not. Why would you be worried about exit fees? Are you planning to sell or jump financiers again short term?

GE are a mighty big slush fund, but if sold (I heard rumour Mark Bouris wanted to buy them back!) unless purchased by one of the major players/banks, you do risk unpredictable rate rises in the future, as Wizard will even moreso than now, have the same problem securing funding as other 'securitised' lenders or 'wholesale brokers'.

AFIG are the entitiy that manage the Wizard loans, who also provide a lot of other funding to 'no name' lenders/loans.

As a sidepoint, one of the better points about Wizard was that they tried to remain seperate form GE, who are a bunch of shysters, but esentially GE offer exactly the same loan products now as Wizard – only more competitive.

Until you have seen the likes of ANZ, NAB, or St.George i wouldnt bother myself. If you don;t want the hassle, see if you can find a reputable (rapidly diminishing species) broker to point you in the right direction.

All the best.

Cheers

A lot of this depends on the lender, and your cashflow and attitude to risk. Not many are fixing that I have seen in the last couple of months, whereas prior to that seemd the majority were. IF I was to fix, it would probably be for 2 years. In most cases, a 'basic' type loan variable with no fees would be the bet IMHO. On a larger $ loan maybe the fixed or a split, but 2 years max.
Purely an opinion of course. 
Cheers

Hi.
Generally market has slowed – from a valuation perspective this is true. I say generally – specialised property or innner city etc obviously diferent.
The valuations I see do vary, but an example would be house @ $390k in 2005, now $340k. 
A lot of people looking at 'refinancing' have this problem – houses worth a lot less than they think – and this is all based remember on 'comparitive sales' data.  Saw a house today 'valued' (appraised') by an agent @$730-750k go to sale with a contract of $645k.
Of course, if you don't sell you have'nt lost anything! Jon's statemtne rings true. Even in the lower end of the market, you often see a house listed with an agent for XX price, it goes nowhere, and then reappears with another agent at a lower (more 'marker meeting' type price) and it is gone.

Agents may be being a bit more realistic in my humbel opinion, but not always what the vendors want to hear.

Cheers