Recent content by CAMI

Thanks so much Aaron. Not sure why Homeside were so twitchy last time, maybe because of the broker - who knows how he processed the application. And we did originally apply for 95% LVR. But had a bad experience overall with them: wouldn't capitalize LMI, wouldn't include rental income from house...

OOPS, Need to reduce Homeside loans to 270,000. It is getting late......

Thanks Aaron, Would love someone to check Homeside serviceability now. You are very kind. Fortnightly Gross Salary: $2078 Rent from Homeside House $360 weekly, Loans $281,000 (including $11,000 they want us to pay out to release land). Monthly payments $1530 Value of house $300,000 (90% LVR...

Sorry, what's the plan? HAVE CREATED 120,000 EQUITY. WHEN DID YOU LAST DO THAT MY FRIEND? All I can see is you have subdivided without doing any research or running likely scenarios (A BIG ASSUMPTION THAT IS NOT CORRECT), your not happy with your broker (TRUE), and now your applying with...

Thanks guys for bearing with me on this. Shahin, that sounds great but we DID tell Homeside we only want a land refinance, and they said "as you are doing a partial refinance with another lender, we need to be sure you can continue to service the remaining loans with us, so fill out the...

Yes, Shahin, you are correct. $11000 needed to reduce LVR on remaining security to 90% original LVR. We have put in an application TODAY with another lender (Bank loan officer, not a broker) for a construction loan to refinance and build on the soon to be unencumbered block. Of course that...

OOPS, I meant, what is point of them checking SERVICEABILITY then, if they can't/won't do anything if it is not up to scratch?

Valuation was done by Homeside already. That is why we know there is a shortfall of $11000 required to release security and maintain LVR> I had NOT counted on them doing another serviceability check. So to clarify: # you are saying if I avoid the Refinance Option, they WONT check...

Yeah, once I can track down the broker, I then have to wait several days while he tries to work it all out and often gives me conflicting/confusing/just plain WRONG info. Please don't tell me to complain and get a new broker. I am running out of time. I need to know asap if: ## Homeside...

Hi, Am in a pickle and need some help. I want a partial discharge for a block of land held by Homeside as security (we subdivided a property). One other security would remain with them, leaving a short fall of about $11,000 required to bring LVR back to 89.5%. I had planned to refinance this...

Hi Brendio, Thanks so much for your thread. You mentioned early on that you would do an Accounting thread on the sub-division but I have been unable to find one. I am very interested in a detailed breakdown of your sub-division costs as I am doing feasibility on a similar size...

Hi there, This is my first post. I have been a property investor for some time with a modest portfolio. Now I need some help in stepping up to a higher level. I have done a few small corner/battle-axe sub-divisions that were not too hard, as the surveyor did most of the work. There is a...