Recent content by Vixs

You don't owe the broker anything, they did work for you in getting the loans in the first place and were paid a commission then, and they get paid a commission now to service the loan as a first port of call instead of the bank. If they're not providing you service then there's nothing to...

Edit: @unloadmymind, was unclear before. There are people out there using IO for all the wrong reasons, or worse, people that shouldn't be using LOCs instead of home loans. Their financial behaviour is poor and they get nowhere with their debts. The best financial decision is not always the...

What's with the metals? They're shiny rocks. No income, no intrinsic value... When I was getting into investment, initially I thought precious metals had a place in a portfolio, but the more I learned the more I realise it's dead money.

Yep, knew it wouldn't be deductible and didn't want to contaminate the loan, so it's a new split.

Hi Dave, the deductible loans are I/O and have been since we purchased as this was always the plan, just earlier than intended. The LMI on the loans used to purchase the home will be claimed, the LMI on the personal use/renovation refinance top-up won't be claimed. I have a copy of the...

**Apologies, meant to post this under the tax section*** Morning all, We are in the process of moving out of our newly renovated PPR and renting a place in a new town for work. Our home will be rented out while we're away, and we may or may not ever move back into it depending on how long I'm...

It would also depend on how much the LMI is going to be, and how much you have paid previously. You could very easily start eating up half your equity release with LMI.

My old man told me that to him, he would consider himself wealthy when he had enough money and was in the position to jump on a plane to go wherever he wanted to go, for as long as he wanted to go there, whenever he wanted to do it. He also said it's different for everyone. For me, wealth...

Yes but many people borrow what they are told they can afford, without realising they can't afford it as proper capacity hasn't been established - just a lender using a poverty line monthly expense amount.

We can't save everyone.

:D Under appreciated joke. I got a laugh, so that's something!

Had a client tell me he needed to confirm a proposed meeting time with 'The Minister for War & Finance'. Cracked me up.

As discussed a broker would be first port of call. Once you're committed to a purchase have a look at meeting with a financial planner to ensure your insurance is adequate for your new debt/financial commitments.

To quote the OP.... "Note: these IPs already deliver positive cash flows; any further debt pay down will incur more tax at highest marginal tax rates. Also already salary sacrifice to the max...." Depending on your age and as previously mentioned, whether or not your impending retirement...

TAL have a pretty well featured income protection policy, as long as you're talking about a policy written through a broker or planner. The direct insurance offerings aren't worth the paper they're written on. If the justification for the recommendation from your broker isn't sufficient to...