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As far as I've been told by policy and procedure it is always the case no matter you are staff or normal walk ins. As I said the reason why St George can do it because they have a different procedure when switching from P/I to I/O compare to Westpac.

Also just want to clarify I'm not trying to have a dig in "who knows more" but to point out it is do-able but you're not supposed to. ;)

Well any lenders in St George will need to advise their customer if they do 90% they need to do P&I, and when they submit the loan it has to be P&I also. It is just a different policy procedure between Westpac and St George that is allowing St George to change the loan structure back to I/O once...

Get an ABN and run your own business, secure your existing home over your investment property....

Correct :cool: I used to have my loans with St George doing 90% I/O, but that's not something that supposed to happen and try not to promote this glitch too much otherwise they might change the process, I know how to do it and how it's been done but I'm not going to share it :p

LOL so are you ANZ or Westpac? Westpac policy is the same, 90% LVR without LMI, but if you are doing 90% you need to do P&I repayment, you can do I/O if you do 85% or below.

Also keep in mind the bank need to see you have a track record of consistent saving, not just a lump sum of money sitting there, so maybe it is nice to start allocating money regularly into your chunk of savings while you build your employment history.

hahaha can't agree more, my fb page always flooded by these people and every now and than some of my friends will approach me and tell me they are selling otp lol

Just because they are using cash doesn't mean they can buy, they will need to register their details with the REA and gain approvals.

When we first started going out I promised her that next time when she move place again it will be her permanent home, and I did it ;)

I will not use the word "Sacrifice" but replace it with "Change of life style" Most of you mention buying a 2nd hand car with cash as sacrifice but I totally disagree, this is more like being more financially savvy and being less superficial/ more mature, because the truth is brand new cars...

Have you also considered your strata cost(if it is unit) and insurance cost? I usually find strata cost kill most of the positive funds...

Get Jerrybee lol

Just referring back to the topic and thought the end result didn't stack up lol, or you may have helped contribute this to turn a bargain into a none bargain? ;)

Why can't she re-mortgage her IP and use the equity to buy another investment property? that can avoid the CGT and she can use the re-mortgage interest to offset any gains if she is looking for NG, at the same time she has the benefit of CG on both IPs. wouldn't that problem solved?

I think this property only classified a bargain if it is sold under 500k, if sold for 600k that's really market price and not really a bargain anymore...

I travel to Gouburn number of times because I visit their race track there :) I loved the environment there, very relaxing life style, but the population is a major concern for me as there seems to be plenty of land but not enough people, there is also a 1 and only town centre which sort of...

I've got an agent which i'm using in Redbank Plains at the moment, if you wish you can PM me and I'll give you the details, hopefully not the same agent lol. But i'm at the moment achieving 290/wk and will be increasing to 300/wk in July. Mine's a 3 bedroom oldish house, and same as you...

This interests me for following reasons. 1. Depreciation (Wrong motive) 2. No or very low maintenance for first few years. I have no time and I am not into renovations. (Only if built by quality builders/developers) 3. New attract tenants (True but doesn't mean you will get $50 more than...

Looking at the figures it does seems promising, wonder what s the actual reason why the owner is selling. the Agent mention the property need a bit of TLC, duno how much does it actually need lol