Where i work we have the option to use “Advantage Edge” as a loan broker.
I just rang and rattled off our situation. I gave him two options:
we have $140K in the bank, no loans, no properties.
1) We would like to purchase a PPOR ?$200K, and 2 IPS $400K..
He said to put all our money in the PPOR and -ve gear the IPS until the PPOR loan is paid off. Using a 100% offset account (not LOC).
2) We Rent, and buy 3 IPS $600K, still suggesting to minimise tax and -ve gear..
I almost laughed… but I found that he wasnt talking over my head.. after reading in this forum I found I could throw in meaningful comments about +ve and -ve gearing, loan percentages, offset and LOC.. etc.
I was chuffed with myself, and I also realised he aint been watching TT… LOL
[
]Regards,
Arty.[
]
“Why work to the age where you cant enjoy
what you have worked for !.” (Author: Me)Hi Arty is that Advantedge? Where I work we have access to it as well. I thought it was a nice idea for companies to offer this sort of service for employees. It is, however, owned by the National Australia Bank, so getting the same tired spiel doesn’t surprise me with one of the big 4 involved.
PB
What is the benefit of Advantage Edge? Do they offer a product unavailable elsewhere?
If they are normal brokers then it sounds like clever marketing to have you call them because you work allows access.
Maybe I should do this![
]Cheers
Simon Macks
Mortgage Hunter
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Advantagedge is a company that we can get discounts from where I work.
http://www.advantedge.com.au/But after speaking to the consultant, I dont think thay could help out with +ve cash flow advice. He seemed eager to -ve gear everything.[xx(]
Regards,
Arty.[
]
“Why work to the age where you cant enjoy
what you have worked for !.” (Author: Me)What discount do the brokers give? Most offer a free service anyway so they must be giving a discount on rates or fees?
I am not trying to give you or them a hard time – just professional curiosity!
Cheers,
Simon Macks
Mortgage Hunter
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
He didnt go into all the detail on the phone.
But what he did say was, I would get a professional package, where $1,000 of fees are waivered in the first year. Then we can set-up new loans without fees, but we still need to pay government fees like stamp duty etc.
Advantage edge, also have shopping discounts for general appliances, movie tickets, etc.
Im sorry I dont know all the perks on offer, but when he didnt listen to the fact I was trying +ve gearing, he suggested -ve gearing would be better until the PPOR loan was paid out, I thought that was a step backwards.[^]
Regards,
Arty.[
]
“Why work to the age where you cant enjoy
what you have worked for !.” (Author: Me)Sounds like all the professional packages offered by the major lenders.
Any broker in here will easily match that.
Methinks clever marketing [
]Cheers,
Simon Macks
Mortgage Hunter
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
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