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Hi Bob, will do! I have a bloke coming tomorrow that was recommended for floor sanding and polishing. Regarding the chipboard, it's part of an extension. The ceiling height of the 4 bedrooms and halfway is 3m, whereas the dining room and living room is 2.7m, so presumably a previous owner was...

Thank you for all the ideas, it was great as we had a couple of builders through yesterday to give quotes for the various pieces, and I was able to add these to the list we were already thinking of. Bob - thanks a lot for the very detailed reply! The builders both thought that we would...

Thanks a lot for the replies folks, greatly appreciated. thatbum - The issue is, I don't feel like I can run it myself. I have been through so many hoops and delays with the VBA investigation, and both the VBA and the police have given me a rather bleak outlook in terms of how long it takes...

Hi folks, I'll try to keep this short, in a nutshell I am looking for a recommendation for a good lawyer in Melbourne to assist me with recovering about $15,000 from Jim's Roofing for replacing a section of my roof which still leaks very badly. On top of that, the compliance certificate I was...

Off-topic, but does this thread remind anyone else of the video for the song "Just" by Radiohead? Classic! https://www.youtube.com/watch?v=-_qMagfZtv8

I find the interviews very inspirational. There are so many great contributors on SS that it's hard to make a shortlist, but my top 5 would be: - Deltaberry - D.T. - Rixter - see_change - Peter_Tersteeg

Hi chazraz128, Have you read through all of the other threads on the pros and cons of buying OTP? There is some good information in this recent thread: http://somersoft.com/forums/showthread.php?t=99357 I think the main risk seems to be that the valuation that gets done when the property is...

I can second Essendon Legal Services, Adrian Skinner was our solicitor. We have just completed our first IP purchase, making a couple of stuff-ups along the way that made him work pretty hard for his fee, and Adrian has been outstanding. His details are: T: 03 9374 4978 E: adrian@corpro.com.au

Just to close this thread off, thanks to the great advice from everyone who replied to my post, I was able to get our solicitor to fix up the contract of sale to be in my name only. To anyone else that finds themselves in this scenario, here's how it was resolved. Our solicitor requested...

Hi annmak, I think either Parkville or Brunswick would meet your criteria, something in the area around the intersection of Royal Parade and Brunswick Road. You'd have: 1. The tram line on Sydney Road/Royal Parade and Jewell train station for public transport. 2. Barkly Square is a nice...

Good advice regarding the "and/or nominee" clause. Unfortunately I checked the contract of sale last night and in the Purchasor field, it doesn't have this clause, just both of our names, in line with the direction from our mortgage broker. I have asked our conveyancer to see if this can be...

Thanks folks, another call to ME Bank citing the section from the policy that Aaron supplied, and the issue appears to be sorted. Our broker now has concerns about whether the vendor will allow this arrangement, I'm hoping they don't care about where we get the money from and how the ownership...

Nice one, thanks for the explanation Thann :).

Aaron_C, thank you so much for digging out the specific section from their policies. I have just passed that on to our broker, I'm not sure why the person she spoke to at ME Bank this morning would have said we can't do it, as that section of the handbook seems like it is saying that we...

Hi folks, Thank you again for your advice, this forum is a lifesaver! I'm under a bit of time pressure because our conveyancer is working on our purchase documents over the next 2 days, so I really appreciate the quick replies. I passed this feedback on to our broker, but she has responded...

Hi Terry and Singo, Thanks for the responses, especially so late at night. So using those numbers, and assuming interest rates of 5% for PPOR and IP loans and 5.2% for LOC, and a salary in the 37c tax credit range, would the numbers look like this: Scenario 1: Pay IP expenses from wages...

Hi everyone, Most of the previous threads on this are quite old so I thought I'd get a refresher. Due to our employment circumstances, our bank required my wife and I to apply for a loan in both of our names. We were hoping to offset the IP expenses and losses against my salary as much as...

Thanks Terry! A few extra questions to help me understand what you are saying: 1. By borrow, is a LOC the recommended way to do that, e.g. get a LOC for $20K and use that to pay IP expenses? 2. Why is doing that better then just paying the IP expenses out of my personal savings account...

Thanks everyone for the replies, I think I get it now. I was getting confused between two different topics: 1. the concept of mixing loan funds, and; 2. what account(s) you can use to pay for IP-related expenses. So if my understanding is correct, in a nutshell this means: - Keep the...

Hi everyone, I am trying to understand what the basic setup for paying IP expenses should look like. At the minute, I have 3 accounts with my bank: 1. Personal Savings account (offset for PPOR loan) 2. PPOR loan account 3. IP loan account So for the people that don't use a LOC to pay the IP...