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G'day Brendan, Sorry I didn't see your post there I haven't spent much time on the forum lately. Rather than use redraw, I would take a new loan secured against the original property for the deposit. The reason is that the seperate loans are easier to follow for accounting purposes. Never...

If you're on the title you've got to be on the mortgage... if you're a part-owner in something you wouldn't want someone mortgaging it without your permission :eek: Skaters situation is the opposite - an additional borrower who is not on the title.. It's a little confusing but it makes...

That's a shame I didn't get the notice, what date does it actually change? I put one in on the 18th and Suncorp ordered the valuation with no problems so far, hopefully it'll go through...

Yep 1 month ABN is ok with Suncorp - as long as you have 30% deposit. Most of the other top banks need at least 1 year business history, sometimes 2 years. Cheers

You can get an offset with Bankwest, but you need to add a "Lite Plus" loan to your account. There's two options: 1. Wait until the honeymoon period on the rate tracker is over - you can then convert that to lite-plus and attach an offset. 2. Take a loan split as "Lite Plus" and pay the...

If you want fairly decent rates see if you can get a little extra deposit (30%), then consider Suncorp. Fixed rates are the same as full doc, and basic variable is 8.79% - comparable with banks pro-packs. Hope this helps

Also - the rules relating to stamp duty exemptions (first home plus) are worded differently. If you're intending to apply for exemption from duty - talk to the solicitor..

Hi Kristaje, Which state are you in? In NSW, if your IPs are purchased after July 2000, the grant declarations specifically refer to "occupying" not "owning" a residential property that you have an interest: As you can see, it doesn't exclude property investors from the FHOG when they...

I use GIO & CGU for combined landlords+building, I found one more competitive than the other in different circumstances. Also get a quote from your lender, if you have a "professional package" loan you'll most likely find it includes a 10-15% discount on insurance.

From memory WA's mortgage duty is rather harsh - they even charge you mortgage duty a second time if you refinance an investment property! Maybe that's what our treasurer should be looking into also ;)

It's not the worst rate but you can do much better with some of the 2nd-tier banks, even with fixed rates

I think you'll also find that the government & centrelink will increasingly support these methods to supplement the retirement income, especially with our aging popuplation and the pending retirement of the "baby boomers", many who don't have adequate super since it wasn't there for their...

Hi Kristine, That's good to hear if it's only 3 years instead of 4, I'm so used to dealing with the banks where they lock you in for 4 years. My concern is if a cient takes out a new RHG loan to access their equity - i.e. to use as a deposit on a new purchase, that this new loan will...

Is your property earning a decent rent? Mine is a 3 bedroom, about $300pw at the time. Sydney agents only charge 6%, so you should negotiate. The isolation in Canberra means they try and fix the price... You could email all the PM's in Tuggers asking if they will accept X% to change the...

That happened to me AND I was paying 10% + GST! That was my first IP and I didn't do much shopping around. It was a blessing that they were inefficient though - it spurred me on to find a cheaper and better PM!

I'd be fixing the light.. using the cheapest sparkie in the phone book since it's a small job. Offering the tenant money to do it themselves could be an issue, if anything bad happens you could be in trouble. Also they could do some damage to your wiring, who knows. Giving them notice...

Most seem to charge close to 10%, but I didn't want this so I emailed a bunch of PM's in the area and asked if they'd do 6.6% or what was the closest they would do. I got 7.7% in the end (inc GST) which is what I wanted. Most are happy to negotiate, although a couple were a bit smug with...

Hi Stella, What's the anticipated annual rents? And loan amounts? Cheers Dan

Is the loan 100% used for purchase of the property? Ensure you don't make any personal-use redraws.. This thread answers the question in more detail: http://www.somersoft.com/forums/showthread.php?t=37212 Cheers

It depends on what the goal is, for example maximising borrowing capacity, using an offset, or paying interest in advance. St George can be good because of their offset and the large discounts that can be negotiated, although they're not always as fast as their competitors at getting things...