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16-11-2001, 02:54 PM
<font face="verdana, arial, helvetica" size="1" ><b>From:</b> Brett Burt</font>
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After a number of enquiries regarding mortgage insurance I have formed =the view that the 'true power' resides with them.
Last week my brother was reduced to applying for max LVR 80% (not =90-95%) as the mortgage insurers (Gemico) thought that the security, =house in Dubbo and a unit in Cooparoo in Brisbane were poor markets =where the likelihood of appreciation was slight, and the likelihood of =going backwards was on the cards. Unbelievable. Or do they know =something that we/I don't about Brisbane property markets? I have been a =supporter of Brisbane property over the last 5 lean years (compared to =Sydney) but I am slowly starting to feel that it is a basket case. In =addition the valuers are even saying Brisbane is not going anywhere. =This reflected in a few valuations we had which showed that the =properties had appreciated less than 2% p.a in last 5 years. (Two tiered =marketing did not play a role here as the original valuations were =independent and reasonably close to sale price.)
Do we sell the Brisbane investments, they don't seem to be going =anywhere and having them hurts our chances with mortgage insurers =(apparently).
Any thoughts on mortgage insurers and Brisbane property ?
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<DIV><FONT size=2>After a number of enquiries regarding mortgage =insurance I
have formed the view that the 'true power' resides with them. =</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Last week my brother was reduced to applying for max =LVR 80%
(not 90-95%) as the mortgage insurers (Gemico) thought that the =security, house
in Dubbo and a unit in Cooparoo in Brisbane were poor markets where =the
likelihood of appreciation was slight, and the likelihood of going =backwards
was on the cards. Unbelievable. Or do they know something that we/I =don't
about Brisbane property markets? I have been a supporter of =Brisbane
property over the last 5 lean years (compared to Sydney) but I am slowly =
starting to feel that it is a basket case. In addition the valuers =are
even saying Brisbane is not going anywhere. This reflected in =a few
valuations we had which showed that the properties had appreciated less =than 2%
p.a in last 5 years. (Two tiered marketing did not play a role here as =the
original valuations were independent and reasonably close to sale
price.)</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Do we sell the Brisbane investments, they don't seem =to be
going anywhere and having them hurts our chances with mortgage insurers
(apparently). </FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Any thoughts on mortgage insurers and Brisbane =property
? </FONT></DIV></BODY></HTML>
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This is a multi-part message in MIME format.
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After a number of enquiries regarding mortgage insurance I have formed =the view that the 'true power' resides with them.
Last week my brother was reduced to applying for max LVR 80% (not =90-95%) as the mortgage insurers (Gemico) thought that the security, =house in Dubbo and a unit in Cooparoo in Brisbane were poor markets =where the likelihood of appreciation was slight, and the likelihood of =going backwards was on the cards. Unbelievable. Or do they know =something that we/I don't about Brisbane property markets? I have been a =supporter of Brisbane property over the last 5 lean years (compared to =Sydney) but I am slowly starting to feel that it is a basket case. In =addition the valuers are even saying Brisbane is not going anywhere. =This reflected in a few valuations we had which showed that the =properties had appreciated less than 2% p.a in last 5 years. (Two tiered =marketing did not play a role here as the original valuations were =independent and reasonably close to sale price.)
Do we sell the Brisbane investments, they don't seem to be going =anywhere and having them hurts our chances with mortgage insurers =(apparently).
Any thoughts on mortgage insurers and Brisbane property ?
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charset="iso-8859-1"
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<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD>
<META content="text/html; charset=iso-8859-1" =http-equiv=Content-Type>
<META content="MSHTML 5.00.2919.6307" name=GENERATOR>
<STYLE></STYLE>
</HEAD>
<BODY bgColor=#ffffff>
<DIV><FONT size=2>After a number of enquiries regarding mortgage =insurance I
have formed the view that the 'true power' resides with them. =</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Last week my brother was reduced to applying for max =LVR 80%
(not 90-95%) as the mortgage insurers (Gemico) thought that the =security, house
in Dubbo and a unit in Cooparoo in Brisbane were poor markets where =the
likelihood of appreciation was slight, and the likelihood of going =backwards
was on the cards. Unbelievable. Or do they know something that we/I =don't
about Brisbane property markets? I have been a supporter of =Brisbane
property over the last 5 lean years (compared to Sydney) but I am slowly =
starting to feel that it is a basket case. In addition the valuers =are
even saying Brisbane is not going anywhere. This reflected in =a few
valuations we had which showed that the properties had appreciated less =than 2%
p.a in last 5 years. (Two tiered marketing did not play a role here as =the
original valuations were independent and reasonably close to sale
price.)</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Do we sell the Brisbane investments, they don't seem =to be
going anywhere and having them hurts our chances with mortgage insurers
(apparently). </FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Any thoughts on mortgage insurers and Brisbane =property
? </FONT></DIV></BODY></HTML>
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