Hi Elka – you must be looking into it too deeply – it was just my personal opinion to your question –
YES – I can tell you if it is a reasonable fee

NO- It is'nt.

I was keeping it brief. 

All the best.

Two things here……first Mel, I did enjoy your API feature…..keep it up and 'good on you'.
AND Richard….(QLDS007) Thanks for a bit more 'insight' on yourself, and a good postive post on what can be achieved. One of the most inspirational posts I have seen her. Congratulations to you too mate.
Cheers

V8GHIA

Good on you Cazza – and welcome to the forum.
Tax issues should not be too complex with this – after all, it will be your own home shortly. Whether or not you claim any deductions during the time you rent it out is up to you , but if anyone is renting sny house out I have seen and heard enough over the last few years to advise that the two most important things regardless are as follows –
1) make sure you let a good propery manager look after your property, who can screen tenneants, organise bonds, leases etc. 
2) Get your home insured . Not just buildings and contents (which includes carpets, window fittings, and eny furnishings etc) but landlord insurance as well is esstenial. (Sometimes called tennant protection insurance or investor insurance too)

All this cost s a bit, but if you shop around, you will do ok. …..and it is a small price to pay for the most possible security and hassle free 'journey'.

That said, all the best.!  

Boy reeco – you could have all sorts of nutters have some fun with that!

How about just do a bit of research, take what you hear on board, whittle away the 'chaff' as they say, and then you make the call.

If you could make sure you were only getting advice from someone that has at least one property (!) themselves it might be a bit different.

Did I mention 'all the best' ?

Hi Stuck@two.

Sorry to hear of your situation – difficult time I'm sure.

Now, as for Westpac – and any other lenders – this is standard stuff. THe property has to be transferred, and of course the loan is then no longer valid, as it is for a property that has 'changed hands' – ie no longer belongs to the same borrowers. With a court order/via solicitor you will avoid the stamp duty on transfer, but there is no way around the loan  payout and reestablishment issue.

Don't take this the wrong way, but it sounds like your lender is doing all they can to help if you are getting fee concessions etc, and also bear in mind that even if this was'nt going on for you, when your fixed interest loan finished it's term, you would be in exactly the same boat…..

If the bank 'assess's ' you as being able to afford the loan, it will then be up to you to decide if you really can.
That said, bear in mind many feel interest rates are at the top of their cycle, so it may be more advantages not to fix all your loan at present. If you do, and if you want to jump banks you would no doubt be entitled to an introductory rate loan – one bank is offering fixed for 3 years 8.59 at present.

All the best.

You worked it out!   Also, I don't think you'll find much CF+ there at all. Even less with the over exaggerated rental return figures, and huge 'finders' fees. 

It gets technical, but as a result of so many people trying to rort the system, technically no. (ie see the above comments) However, remember you would need to be audited for this to come to light, and if you left a legitimate paper trail (ie get your spouse to lend you the money, or put someting inwriting/document it all including the loan that was 'late'. via detailed notes etc ) and could genuinely prove this to be what you did with documentation, you would have to catch someone on a bad day for them to 'ping you' on this.
Then again, your choice in the end. All the best

Brokers do get what on the surface can appear like a truckload of commission……then again, they get no 'wage', have to pay all their own insurances, overheads, and also…..the lender pays them – so in actual fact, it costs you nothing.
This means you SHOULD expect personal interest and a good level of service.
Traps to watch for are brokers that try to sell you their own 'wholesale' loans, or branded products with 'fancy names'. These are via securitised funds, and make them a stack more commission – thus why many push them!
At the moment, most should direct yo to one of the major banks, and rightly so.
By all means talk to a few, and don't feel bad doing so. If you find one that you like though, and feel cofortable with – give them a go.
If you already have a relationship with your bank, make sure you get your moneys worth there too. 
A lot of banks see 'broker deals' go pear shaped and handled totally ineptly, and this can frustrate, as the deal ends up going to the local branch often anyway. On the other side of the scale, a good broker will be abel to offer you a level of 'hand holding' and acess you will find rare with many banks today.
All the best – and don't apologise for asking questions!  

Hi Danceshoesco.
If you mean North West coast, and paly your cards right you should find it rewarding. Rules are the same whereever you go, but I had considered buying in some of the mining towns (Roseberry etc) and did not – however IF I had, I could have doubled my money in the last 2 years or so – but of course could just have easily of blown it. IF talking Burnie, Ulverstone, Devonport etc though it is different, as they all have industry and infrastructure, and slow but steady growth. Ideal for the long term.
That said, costs of building/repairs/rennos generally seem higher than the mainland (actually, they are)
I had a new fnece put up a few months back, and a mate here (fencing contractor) reckons I paid at least 20% more than he would charge if he was'nt trying. But I got a few qotes, and the guy I used was really helpful.
Have not done a renno as such, but I could point you in the direction of a very good building inspector I have used threee times and been very happy with, and a fencer (!) and an Ok property manager if you need.

All the best.

Hi Sav – and welcome to the forum.
My first sugestion  before you talk to anyone (makes you sound like you have an idea too) is to have a play on the internet with a borrowing calculator/tool that allows you to pick your state, deposit, purchase price etc, and will then give you a good idea of costs. Most bank websites have these, and even the 'mainstream' brokers website, the MFAA also has similar tools/calulators.
If you are happy to pay some 'lenders mortgage insurance' (applies as a once off 'risk fee' when you have less than a 20% deposit as a rule) have a play around with using a 10% deposit, and see if you are comfortable with what you find. Remeber, each state is different, but the govt sticks it to you in stamp duty, and there are additional costs too. A classic eg. I recall, was when I knew someone that had saved up $20k approx, and wanted to buy a $300k home. You guessed it – stamp duty and the above mentioned insurance added up to him having a $0 deposit essentially.

Don't be afraid to start small – but you could balance that with nothing venured, nothing gained. The more you spend, perhaps the more time you need to put into 'doing your sums'. a big congratulations too on having saved p that much money for your deposit. Enjoy the journey –