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Hello, everyone, I’ve signed a contract with an acquaintance to buy a unit (private sale with no REA, but both of our lawyers had read through contract for us before signing). Long story short, the contract became unconditional and the settlement date is this Friday the 22nd. Early this...

Thank you Aaron, Your explanation is so clear and easy to understand. And it tells me an important figure - 88%, which i've asked 3 brokers to find the maximum i can borrow without big increse in LMI, but non of them can clearly answer it. If i knew the 88% rule, I'd borrow up to it.. But...

sorry... I'm not a finance person, i thought LVR = Loan/value of the property, so the $295K loan / $341,500 Purchase Price = 86.4% What's "Owner occ debt"?

86.4% LVR, NAB told me the LMI is $2152.00 with QBE

Hi Rolf, Sorry, what's the BWA in ur message standing for? BTW, the new loan I'm applying is above 85% LVR.. regards BeeP

Hi Shahin, Is the variation fee means fee charged on changing from variable to fixed loan? regards BeeP

Thank you!! Thank you very much everyone for all your information and insight, I'm currently having the NAB Choice Package, which cost $395 annually and offers 100% offset and other facility like no application fee for new loan, no switching fee in changing from variable to fixed… From the...

Hello, everyone, I’m in process to purchase an IP, already got one formal approval from NAB to pass the finance condition, but considering the settlement date is far away, I applied again with NAB Homeside Lending via a broker, thinking that I’ll choose a better loan offer. Now Homeside has...

Hi Is anyone here having some experiences with 21st Century Property?? I have read the forum a lot recently, seen people mention Michael Yardney, Chan & Naylor.. But haven't seen anyone mention 21st Century Academe / Property.. And has anyone heard their option on land project?? Another...

Hi Dear All, Is there anyway to find out a potential tenant's credit and /or renting history as a self-managed loandlord? Thank you for any input!!

Totally agree, bornfree. To add a little info here, I bought a 6 yrs new 4-2-2 house in the area about 6 mths ago. Rented out for $400p.w. When I bought the house, all my colleagues and friends were very negative about the area as someone even called it a ‘pit-hole’. They worried about...

:D That's what i thought. As his dating progress, his girlfriend should be able to rent his IP for him

Thanks, Mry. Now i see how complicated this can be... I guess it will give accountant a big headache and also cost me big $... That's why i was thinking whether change the loan from LOC to IO with offset account before i convert my PPOR to IP will simplify/get rid off this big headache...

Hi Marg, The LOC was taken out when i refinanced to purchase my 1st IP. The financial advisor knew i wanted to use some fund to trade shares, so he said "if u use part of fund in a LOC account rather than using ur own money (in ur offset account) to trade shares, the interest is tax...

Hello, … I’ve just realized that I have a contaminated LOC loan on my PPOR… and I’m thinking about turning my PPOR into an IP. So how much is my eligible loan amount in calculating interest deduction? Scenario, 1/1/08 LOC granted, with credit limit of $200K; 1/1/8-31/12/08...

Yes, Jaycee, I have read the thread of renting your own house under a trust/company... That's a good one.

Hello, everyone. My friend has his PPOR and one IP. He'd like to buy more IP(s). However, ability of servicing more loan becomes a bottle neck. I was suggesting him to moving out from his PPOR and rent it out (since he only owes $180K on a $380K house, this PPOR will turn into a cf+ IP. This...