Recent content by azaram

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    Contract of Sale, Subject to Finance clause

    Hi, I've done a bit of a search and couldn't find anything directly explaining this.. I'm in the process of buying a $770k apartment in inner Sydney. I've had some complications with financing as discussed here: http://www.somersoft.com/forums/showthread.php?t=55471 Also, we originally...
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    Need help with finance on first home

    Well my broker has come back to me with some really innovative solutions. The most surprising of which is his offer of the brokerage firm lending me the extra 5% I need to make 80% LVR and charging me a risk fee similar to what I'd be paying in LMI. He's still structuring the details, but it...
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    Personal loan to fund home loan deposit?

    Hi Guys, I'm currently trying to finance an apartment purchase. However, I got knocked back on my first application because the credit check unearthed a debt we didn't even know about - a more detailed discussion about that is here: http://www.somersoft.com/forums/showthread.php?t=55471 I...
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    Need help with finance on first home

    Yeah I already tried that. My partner plead with them over the phone and was even in tears. They wouldn't budge though and stuck to the legal line of they can only remove it if it was placed there in error. In my opinion, it IS an error if they failed to contact us, because we were far from...
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    Need help with finance on first home

    Yeah I have been considering getting another valuation for the banks. However, I don't really know which one to go with as I don't know which lender I'll be eventually going through. The way I understand it is that each lender has its own panel of approved valuers and there isn't much crossover...
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    Need help with finance on first home

    Wow, you sound like a great guy jrc :p Well when the ramifications of not affording someone the simple courtesy of simply making a call to find out why they haven't paid a biil rather than lodge a default is (in our case) $57k, I think that it is somewhat negligent of the creditor to not do...
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    Need help with finance on first home

    That makes me feel a little better. I'm sure the mortgage insurers are the problem here. I'm going to talk to my partner tonight about the fact that we NEED an 80% LVR to get through this. She'll be off grovelling to the parents and possibly friends. We can pull it together. I'm just really...
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    Need help with finance on first home

    Yeah.. we didn't know about it. Seriously.. Moving to sydney ang changing jobs etc. I guess we just had other things to worry about. Also, being that all her mail would still be going to her parents there was no reason to think that there was anything outstanding because surely we'd hear about it..
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    Need help with finance on first home

    Spectre, It's through an agent. However, we've negotiated a price before it hit the market, so I believe we got is a little below market value (agent across the road thinks he could sell it for $800k+.. I don't own it ATM so there's no reason for him to inflate his estimate). Yes, relatives...
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    Need help with finance on first home

    He's still working hard for me as far as I can tell.. I think he believes we are strong applicants and seems confident that we'll get a solution somehow. However, it's at what cost which is the real concern for me. Eg $57k or the property, which is an incredible buy and I've been wanting to buy...
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    Need help with finance on first home

    Hi Guys, Thanks for the replies so far. The debt was for $3500, and yes, unforunately it was listed as a clearout. I'm not sure why, because her previous address was her parents' address and that's why she didn't make an effort to advise every single company she'd dealt with. It was paid as...
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    Need help with finance on first home

    Hi Guys, I'll cut right to the chase. We've negotiated on an apartment in the inner eastern suburbs of Sydney for $780k. Everything was looking perfectly fine until our loan application was rejected by ING. It turned out that my partner had a default on her credit rating. It was for a David...
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