I agree with Richard and co anybody can become a broker. Infact Certificate IV is a "Clayton's Qualification" and teaches you very little about lending and the things you need to be aware of.Standards must be harder! You do not go to the accountant and decide I can do this and next week become an accountant!

Assuming you have an interest only facility, $300k in an offset account with 100% interest offest means you pay no interest. The loan is not closed and you can deposit or withdraw from your offset account.If you are on P&I you may still be required to pay the minimum monthly repayment but there will be no interest and you are paying off principal only.

Agree with Banker  on this….FYI is there an correlation between advertising in a particular publication and the winning of awards?

Folks how much innovation is there really in financial markets eg especially mortgages. Interested to see 3 truely original ideas in home loans for the past 5 years?

Typically for purchases valuers are given the contract of sale. Which means they should know the sales price. Also when conducting a valuation they will loook at recent sales of properties in the area. A valuer would argue by looking at that information they are infact forming an objective view.I have had valuations come in short (typically around…[Read more]

I have done deals like this before. But it all depends on your income, assests and liabilities. Probably need a little more detail

Question is will the property market slow down and is the RBA trying to break the property bubble? RBA are no record saying they do not like price bubbles?

In my experience a lender can finance this as 2 individual titles provided the block is already subdivided. If it is not subdivided then they will see it as one title one deal.The next thing you need to consider here are what the lender is likely to value the sub divided property at. Remember bank valuations at times can be a little "flakey" so…[Read more]

CBA have moved first and passed on 0.25% pa. Here are the details….Change to Interest Rates as from Friday 9 April 2010 Today, the Group announced it would be increasing the interest rate on its standard variable rate home loans by 25 basis points following the increase in the official cash rate made by the Reserve Bank of Australia (RBA). The G…[Read more]

Mortgage Innovator is a CBA Mobile Lender effectively. They onlys ell CBA products and work on commission only

I completed their online coursehttp://www.financeinstitute.com.au/mortgageconsultant.htmlThought it was ok

Michael that number is 3 to 4 years old and is the duration of a home loan quoted by a major bank that I worked for.

Michael that number is 3 to 4 years old and is the duration of a home loan quoted by a major bank that I worked for.

The 3.5 year figure quoted is a slightly dated figure which was the average duration of a bank's home loan portfolio. Subsequently banks introduced Deferred Establishment Fees and this has increased. Banks were quoting this as a justification for DEF's and suprise sprise the average DEF is on 4 years. Bank profitability models for Home Loans show…[Read more]

It really depends on a number of factors the rate as I assume this is commercial? But I have been placing these anywahere from 7.8% and above on commercial deals.

Just be careful I have never seen a property purchase where the bank values more than the property purchase price. They will argue that is the price a willing buyer and seller are prepared to exchange the property for hence the valuation.Question is it arm's length transaction?

Pete not sure how good they are but I cam across thishttp://www.brokermentor.com.au/Best of luck

or become a doctor and anz will waive lmi…..

Lets see how NAB and Westpac react?

Try the following. Refinance property 1 and 2 as follows:Property 1 –   borrow upto 80% or 154k assuming increase in net debtProperty 2- borrow 80% to 240k Above assumes full doc and deal services. Also split property 1 and property 2 between 2 different banks. You should not put all your eggs in one basket