Recent content by MatC

Just to add my 2 cents worth having been with a big 4 bank for 12 years and making the jump to broking at the beginning of the year it has been a bit of a roller coaster. I spent the last 4 years with the bank working in the referrer space, and assumed it would be an easy transition with my...

From a responsible lending point of view my aggregator requires 3 months bank transaction statements and last debt statement to confirm limit payment etc. I spend a lot of thinking they are more pedantic than the banks. I do hold a CR under them but even their compliance serviceability...

Recently got told one of the LMI insurers had done $50 mill on the gold and sunny coast in QLD last year because of falling property prices and repossessions. thus their lack of appetite up here. Never managed to get a refund but Wetpac LMI policy insurers the borrower not the property so...

When you think about it most lenders want a personal guarantee from directors anyway so adding their property formally to the equation is not really a bigger risk for the lender if anything it possibly reduces it as they have control over the guarantee from an asset perspective as well doing...

Having worked for Westpac for 12 years. you can't even change from PIF to IO on a fixed loan with out it being classified a break to the contract so defiantly no to this. You also need to be careful that the loan was originally investment as a home loan that was switched to investment can not...

ps0104 I spent the last 4 years working with various financial planners and debt recycling strategies, the concept is good, however if you pay all income into the loan and then transfer / spend what you need every drop of income is going into the loan, and then being withdrawn which basically...

Depends how you look at it Brady... had an interesting conversation with an old work mate today lending targets up 10% and NPS gate opener up 25% in the middle of the financial year, yet pay rises capped at 2%. not sure where the dark side is !

Are their any settled sales over 6 months old or further away as the valuers can use these as a reference if their are no suitable sales ( Whitin 10% of value and under 6 Months) I have seen agent advised sales used as addional evidence after the 3 settled , but normally the valuer has to...

Given this is your first PPOR its very hard to know what the future will bring, you may not like the area, your situation may change etc 3 years is probably a reasonable time given the step-up in rate for longer

Think valuers can get a bad wrap, their is a set of standards that valuers have to follow, one of these is not being able to use developer sales. IE anything else in the estate that has not been resold after the initial purchase, which can make it very hard to find comparable sales evidence...

Good Question PT Bear Mainly financial being married with 2 kids and the sole income earner with some rather large mortgage commitments made it too scary.... Also I had done some deals with my current employer with my old employer and really liked their culture and ethos and the type of clients...

Hi all, Just wanted to introduce myself, I have been an avid follower of this forum for 6-7 years and Rolf, Aaron-c, tobe, Jamie M, Mick C, Ausprop, Pt bear and several others have taught me a massive amount regarding whats possible and feasible from a structure and lender perspective, Thank...

Just want to make a point re insurance. The best rate on a loan equals what you pay, however the best rate on insurance does not equal what you can claim. I live in an area flooded in 2011 by the Qld floods, my insurer provided flood cover and luckily my land was 1 meter above the highest flood...

Hi Lup 15 My views my be a little left field, but if you feel you can run at 80% and have the capacity to save the next deposit with small capital growth then this is a great strategy as you avoid the lmi cost. However if you may need the MI you are better to put this onto the investment debt...

Having worked for a Big 4 for 11 years there are some small benefits on the extremes ie high lvr etc. But generally you are a customer number on a system and unless you ask they won?t offer. Majority of bank revenue is driven by apathy I?m sure!