Recent content by Jamie M

  1. Jamie M

    Interest only with an offset against PPOR

    Agree with Corey - IO on a PPOR is likely to have a negative impact on future borrowing capacity with most lenders under the current lending environment. However - it shouldn't be a massive difference and if the PPOR is going to be converted into an IP at some point then I'd IO is still...
  2. Jamie M

    IP @ Belconnen, Canberra

    I do - with possibly the exception of Kingston. Cheers Jamie
  3. Jamie M

    ANZ loan redraw question

    That's impressive. What was the purpose of the cashout? How much was the cashout portion? Cheers Jamie
  4. Jamie M

    ANZ loan redraw question

    Not for an equity release though - that will be capped at 90% + LMI Cheers Jamie
  5. Jamie M

    how to acquire more loans with one salary

    Nah unfortunately not. They will only take a portion of the rent into account - usually 80% of it. They may add a loading to your existing loan repayments too. Cheers Jamie
  6. Jamie M

    IP @ Belconnen, Canberra

    Good advice - this dude is in the know when it comes to the area. Cheers Jamie
  7. Jamie M

    IP @ Belconnen, Canberra

    Yep - inner North seems to be going nuts. Just had a look on allhomes - one property in Downer was listed for $620k+ sold for $760k. Another 3 bedroom ex govy looking place in its original condition just sold for $657k. It would have went for $550k - $570k this time last year. I've got...
  8. Jamie M

    IP @ Belconnen, Canberra

    In some areas - and for certain properties, it's picked up heaps. My suburb is going crazy :-) The demand for houses in established areas is pretty strong. A lot of it is driven by the Mr Fluffy buy back and a general lack of decent stock coming onto the market. There's still heaps of...
  9. Jamie M

    IP @ Belconnen, Canberra

    Owner occ or IP? Doesn't sound like a good investment to me. I'd search for a detached house in the surrounding burbs instead. You may need to beef up the purchase price a bit - but long term you'll get a better return from a house rather than a unit in Belco IMO. Cheers Jamie
  10. Jamie M

    Cotton-wool parenting

    A kid at school being asked to pick up some paper from the playground is a bit different to a person professionally cleaning for a living.
  11. Jamie M

    'Medico' package (85%+ LVR with no LMI) for IT workers

    CBA are ok....but changes to their servicing calc could happen soon. Cheers Jamie
  12. Jamie M

    Cotton-wool parenting

    Sounds a bit precious to me - especially if it's just a bit of paper in the school yard.
  13. Jamie M

    95% + lmi

    If servicing permits and you've got 10% equity then WBC is generally a good option at this LVR.....but the deal will be scrutinised hard. They'll even order desktop vals on your existing portfolio to confirm you hold enough equity. Cheers Jamie
  14. Jamie M

    how to acquire more loans with one salary

    Borrowing power is determine by your income minus ongoing liabilities/expenses. LVR doesn't come into play (well technically it can for certain deals but there's no point confusing you further). Cheers Jamie
  15. Jamie M

    how to acquire more loans with one salary

    Banks look at both. Whilst they won't take into account 100% of your rental income - they'll generally take 80% of it. The biggest factor impacting investors serviceability right now is how banks calculate the debt you hold with other lenders. Agree with getting a second opinion...
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