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Is it just me or are you all going bonkers? This is a line of credit -not an investment account. It is like saying "if I repay my loan in full and then keep paying more can I get a term deposit or investment account rate?" If you look at nab, cba, westpac, bankwest our any lender - their loans...

I don’t know this one but there are others. The concept is (because you are so nice) you buy a house and also donate say 10% of the value of the house to charity. They then tip in the upfront and trail and use a rebate scheme with the charity to service your loan. For example buy for...

Keep in mind if you have the 20k in offset or redraw it is the equivalent to in some cases over 12% return in another asset class (taking a punt on tax rate). If you had the funds in an account paying 12% then paid 42% tax on your earnings - this leaves you with approx 7% (the same savings...

They seem to be loosening up in some areas and tightening on others. Generally rating 1 and 2 need no vals (1 and 2 almost restricted to existing CBA customers). I recently had CBA approve a 90% LVR refinance based on owners estimate with no val. Another at 35% need a full val as RP Data had no...

Sorry but the theory is not sound! Even ASIC has label mortgage reduction via line of credit or offset a sales scam... These scams include a budget. Lets say your budget assumes you earn 5k per month and spend 2k per month. Then using a line of credit or offset account this assumes 3k per...

Here's an idea... Buy a Dragon. Slay the dragon. Overlay the old BOM brand. Everybody wins! Snif

Naming a bank in a negative aspect? I did not realise I had broken new ground here...

Bank of Melbourne is being launched in August 2011. The website sells the Bank of Melbourne as "not just another bank". "Locals who know the local neighbourhood - where to find a bargain, a bite to eat or a decent coffee" SCROLL TO THE BASE OF THE PAGE. A Division of Westpac...

I don't think the broker is looking after you. He is more interested in the commission... CBAs 2 year fixed is 7.24% which is cheaper and free for you to switch to. The structure you have is OK. Exit fees for CBA will be $700 for each loan (deferred establishment only charge if within the...

It should not be hard; Just ask them to unlock the application, change the loans to: # 102k existing loan - your home only as security # 20% plus costs of new purchase - your home only as security # 80% of purchase - purchase as only security They then lock the application again. Click...

CBA has a few different processes for top ups. 1: Top up application online - you can do this yourself via your netbanking. 95% LVR won't get approved on the spot however a lot under 80% are approved instantly without Val. You accept the change online ( no contract) and have the funds...

An actual limited guarantee (less than the loan) or limited by splitting the loan? I would never use a limited guarantee for this as it creates additional risk to the guarantor. A trap for the unwise customer and mortgage broker. Why... here is a scenario for a purchase of 300k Option...

Hi Scoobalimalima, Why not work out how much you are prepared to pay - then you can work out the time you need the guarantee for... This will give you a better understanding of the risk. For example. If you believe you can pay 5k p/m: 480k (80% 0f 600k) - no guarantee...

Allow me: "A Pty Ltd" ABN 12 123 456 789 "A Unit Trust" ABN 12 123 456 789 "A Pty Ltd" as trustee for the "A Unit Trust" ABN 12 123 456 789 These are all the same thing. If you are using the ABN of the trust - it is the trust doing business. THis ABN you are discussing is obviously...

Generally it takes a couple of days to get a new valuation on the property you are leaving with the bank. The bank then sets an amount (assume 80%) of the new valuation as the 'funding limit after your sale' The money the bank needs to collect to release the property is the amount listed on...

Hi Mike, The specific amount listed on the guarantee is set by the loan amount (in most cases). Most lenders wont allow this to be a lower amount than the loan. Also if all in one loan and the loan is reduced - the guarantee is still there. It is not listed as "the first $xxx" repaid etc...

It is not a limited guarantee that is the answer. When you look at the major 4 the guarantees will almost always reflect the full amount of the loan. Not negotiable. To get around this you need two loans. One at 80% LVR with no guarantee (purchase) The second for the balance (secured...

Agree with this. The 0.94% is more important than the end rate. The banks will fluctuate and NAB will not have the cheapest standard variable forever. This is a very good discount which will stay for the life of the loan. You can also structure your lending to ensure you get this on all future...

A. Optional. Crossing only two is a very simple structure - keep the next purchase standalone. If you were going to pay break costs on the fixed to restructure I would wait until the fixed term is up before uncrossing. B. If you invest it you would start paying interest on your home loan...

If you don’t have a specific manager or relationship manager that looks after you, just go to the branch and get a "discharge form". Fill in your details and fax to the settlements team (it will have instructions on the form). This notifies the bank to prepare your title for release upon...