Hi Tony

to answer your questions ……

YES wraps have been great for us …..3.5 years and 60 plus in Victoria.

Great cashflow ……..but if you want to be in property for the long haul then do a mix of stuff .

We now build houses in Brisbane and leave the wrapping up there to Richard ……..

His knowlege and experience are well known…[Read more]

Interesting ?????

Have a similar in VIC with a subdivision on a corner block.

Basically , I cannot sell house and land until the new title is created ….
a VT contract would have to show title details and we dont have UNTIL the titles office issue all the splits …..

am open to hear any ways around this ????

Wes

Thanks Ally

HTW came up ina previous post so I will contact them and see how we go .

Basically I want a high end valuation that I can then assign to the NAB.

While the NAB will value for free , I was of the belief that a valuation that I pay for may squeeze a few more dollars of equity from the properties …

Regards & Thanks

Wes

can help with bank finance in VIC and NSW IF and I mean IF you are an established wrapper and you only require 80/20 loans

Regards

Wes

Hi Robert …..

The bank I use want me to do two things …..first 80/20 loans , secondly P.I. to me and to my wrapee

They are happy with this risk wise so I am happy to comply ……

I now have another bank outside the big 4 which will do I.O loans and again I will only do 80/20 loans.

I realise this is not tricky or smart re LVR however I…[Read more]

I had our Business Banker refer this to the legal department some weeks ago …..

I will prompt him again this week …..

This type of mortgage assignment is common in the US i believe so it should not be too hard an ask to start them looking at the legal paperwork involved.

will keep u posted ..

Christmas regards

Wes[biggrin]

As a wrapper with many deals in the last 12 months I have been looking at this issue from a Customer point of view.

I have finally done the following to solve this problem ……hopefully all those knockers will now see that there is a right way to protect our customers ?????

We buy on 80 /20 loan so if we buy a 100K house then our PI loan is 80K…[Read more]

I am one of those who have walked away ….

I no longer wish to “swim ” through the volume of negatives.

For the last 12 months I have learned a lot from this forum amd our business has prospered.
( BIG THANKS Steve )and the loyal posters.

seeya

Hi Lozza

we use the direct debit method ……works for our customers …

seeya

Wes[specool]

Hi again ….

Cold comfort to know I was not alone in bad dealings with ANZ …..We have a company , so dealing with the Business Banking centre was a real pain ……

ahh well ….VOTE with da FEET

have 2 other lenders who are “real” people now ….

seeya
Wes[biggrin][biggrin][biggrin]

ps. Our personal dealings with the local ANZ are…[Read more]

Hi Terry …
should have tried the complains route myself ….

Had 6 loand thru ANZ via a broker ……They refused to speak with me and said I should only deal through broker …..

Broker was hopeless as they did not know the ANZ policies and procedures…..

Result :—- Nobody would talk to the customer …

I walked ….so stuff the ANZ…[Read more]

Hi guys …..

SO does this mean that IF a MAJOR BANK allows wrap loans then the system is now ok ??????

Wes[biggrin]

Hi MM

Thanks for the web site info …..
appreciated

Regards
Wes