Recent content by Rangi

  1. R

    Offset accounts for Trusts and Companies...

    I am just trying to organise the integrity of my accounts. The borrowing and offset accounts will be exactly the same. I just wanted to know of a bank which would offer this product... There wouldn't be any 'personal' gain from this arrangement
  2. R

    Offset accounts for Trusts and Companies...

    Hi All, Just a quick question for the MB's and the experienced. Is it possible for mortgage offset accounts to be established against borrowings in a Co.ATF Trust accounts? If so, which bank allows it as I am of the belief that the ATO have specific rules regarding this. Cheers
  3. R

    Banks attitudes to credit cards

    Three options for Whittaker, Either he doesn't have any c cards. Doesn't borrow any money. Or has previously not included all of the info.... Basically most/some lenders will place a $30 weighting on every $1000 of LIMIT. Irrespective of the actual balance. Therefore if you have a...
  4. R

    Lending/LMI/Bank dispute question

    Man, that's no good at All. I have had a little instance with differing LMI policy and other brokers may want to correct me here. But essentially the smaller banks have to submit their applications to Genworth while CBA have their own authority to approve LMI loans, even though they use...
  5. R

    finance brick wall

    Very sorry but you can't be serious.:confused: You would like to borrow money, and believe banks should lend you cash because you own four properties and their value is going up? There was a story on news.com.au where customers were 'using their houses like credit cards' and it seems...
  6. R

    Lower LVR for IP's under new National Credit Code?

    My two cents The ruling is to further protect mum and dad investors believing that they should have protection when borrowing funds for investment properties as well as PPOR. Working for a fin inst, the changes are starting already where we are to disclose the whole discussion and not just...
  7. R

    Auction Valuations "market value"?

    Unfortunately this is one of the drawbacks with the auction process when you are not able to extend yourself to the 'market value' when its sold under the hammer. 1) You are right with regards to lending to the valuation. 2) Normal margins apply in this area, ie. 95% lend max, therefore...
  8. R

    LMI was Declined / Rejected...

    I've heard bad things about Homeside at the moment around their turnaround times. Unfortunately Boq do require LMI with every deal at the moment, no LMI deals have all been stomped out. As for the Credit Card issue, I feel they are pretty reasonable. Had one customer get rid of $30k worth...
  9. R

    QBE LMI's Review of Impact of FHOG on the Market

    Thanks for the link. Makes for some interesting reading, and coming from a company at the sharper end of the property market gives it some clout. Basically says that buyers are paying a 5% premium, for a $7k - $14k hand out. Is this a smart decision? Also stated that if the fhogb is...
  10. R

    Paying off variable loan early, what penalties?

    http://www.nab.com.au/wps/wcm/connect/nab/nab/home/personal_finance/15/8/#sect5_1 Here you go, breaking any loan prior 3-4 years can create a fee of over $500 Weigh up monthly costs/annual package fee vs this breakcost fee. I believe there is a lot in leaving a loan open (balance...
  11. R

    HSBC cuts its 3 year fixed rate by a whopping 1.3%

    Sign of things to come, would be a good way to get a discount from the get go, but would you end up better off??? Good way for HSBC to get a slice of the pie, but personally, I wouldn't go near a fixed loan at present.
  12. R

    X-coll is not good

    Hi all, Just quickly read it. Once you could release this security, was this to be sold?? And sale proceeds to produce future income?? What is there reasons for not releasing any securities?? Was this a security point of view, or do all properties provide an income used in...
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    A refinance and a release

    Hi there, new to the forum. Firstly, if this property has been solely to secure ONE loan, then this is a full release. If this loan has been paid out, then a release request, usually coupled with a fee needs to be given to lender. Then the security can be released. Paperwork is...
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