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  1. Redom

    IP @ Belconnen, Canberra

    I've just been hunting for rentals - there's quite a bit to pick from. Kingston and Barton and Inner south in general seemed a little tighter than other pockets.
  2. Redom

    Lending market changes in 2015 ? looking ahead, what?s next?

    Thats pretty far jerrybee - as far as you can go with many lenders.
  3. Redom

    Lending market changes in 2015 ? looking ahead, what?s next?

    As I've said repeatedly on SS, 2015 is a year where policymakers are making significant interventions in the lending market (in particular to investors). To date, these have been regulator-induced changes that try to protect against 'asset bubbles' forming and the associated pain (I may post...
  4. Redom

    Changes / tightening on servicing for investors

    The higher of the following rates:  7.25% p.a.  SVR plus 2.25% less any concession* e.g. MAV Package granted to the borrower  5 Year Fixed Rate at time of application less any concession* e.g. MAV Package granted to the borrower
  5. Redom

    Changes / tightening on servicing for investors

    1. No mate - it means that they'll assess CBA debt at 7.25% P/I. The way they did it before meant that it often fell below this. 2. OFI debt yep - not the biggest change, just add 20%.
  6. Redom

    Changes / tightening on servicing for investors

    Yikes!!! Haha. This is OK - 20% loading from where they are isn't too bad (means like last 3-4 rate cuts haven't done much for serviceability, but not as big of a change as some of the others). Cheers, Redom
  7. Redom

    End of an Era

    Thank you so much Jan, Ian, Sim and all the others that have put so much into such an invaluable resource. Amazing to think that you've positively impacted and empowered so many from the community. Huge congratulations and all the best. Cheers, Redom
  8. Redom

    how to acquire more loans with one salary

    Its based on 'assessed' expenses, not actual expenses. Most banks will take your mortgage debt at around 7% and P/I repayments, not the actual repayment you pay. Cheers, Redom
  9. Redom

    How long did it take banks to loosen lending after GFC

    Great post tobe and great question sea change. I think if its in light of the current tightening, the more relevant question is how long did the tightening take to loosen post the 2002-03 Sydney Boom. The GFC was largely market driven - funding sources got clamped up around the world and...
  10. Redom

    Changes / tightening on servicing for investors

    Interesting article, thanks for posting - i think his partly right as to possible next steps. IMF are in town this week/month i believe and will report within a few months, i strongly suspect they'll come out with a pretty headline worthy report stating that we're in bubble territory in...
  11. Redom

    Consolidating loans

    Heya, Jess provided some great advice on pro's and cons. Why are you looking to consolidate? It may be more difficult to do now too, you'd have to test the serviceability to see whether consolidation is possible. Cheers, Redom
  12. Redom

    Changes / tightening on servicing for investors

    Haha well in policymaking terms we used the term to mean banks that aren't under the same oversight levels as the main banks that are prudentially regulated. Loan sharks do fall into that bucket. In terms of higher rates, it should be noted the rates are still very much residential rates...
  13. Redom

    Changes / tightening on servicing for investors

    Yep, one of the indirect consequences of targeting the main banking sector is that it will see investor lending move towards the 'shadow' banking sector. They'll see a big spike in their investment business i think as deals get pushed to them that'd previously had gone to Macq, NAB, Adelaide...
  14. Redom

    95% + lmi

    With ANZ you'd have to be an existing customer (6 months +, CC will do) to get 95er loans. Westpac group are a good bet, but will be credit scored v.harshly so the other parameters will need to stack up. Cheers, Redom
  15. Redom

    'Medico' package (85%+ LVR with no LMI) for IT workers

    I've never written one of these before (or celebrity unfortunately), but i believe the athlete will need a decent income with a contract thats still in place and isn't expired. Pretty sure it can include many sports (not just athletics). Basically cant be a free agent.
  16. Redom

    Extreme delay in getting transfer registered

    Sometimes theres a bit of chasing up necessary here post settlement. I recently had one of these (with similar dates). The bank just didn't do the transfer/forgot/admin error (usually happens back end with solicitors i believe). One phone call later it was all put in motion to process.
  17. Redom

    how to acquire more loans with one salary

    Heya, If you're looking to draw out equity - what is the purpose of those funds? Is it to fund more investments? By strategy, it makes sense to map out your next moves and then order vals/draw out equity. For example, it doesn't make sense to order those valuations if you don't have...
  18. Redom

    how to acquire more loans with one salary

    Which bank Avatar? To release equity the bank will need to do some sort of valuation on your property. Some banks you can order valuations upfront without too much of an issue. Others you may need to submit a full application for funds before a valuation comes through.
  19. Redom

    6% Yield

    I think there may be some loosening back over time once the boom peters out (12 months or so). I suspect it will be the pricing of loans will all be equal again. However, i don't think there'll be a move back to actual repayment. One of the key aspects of our prudential regulation is to...
  20. Redom

    Changes / tightening on servicing for investors

    To calculate your borrowing power lenders assess your income and then subtract your 'assessed' expenses to work out your overall borrowing power. AMP, MACQ, NAB previously assessed the debts you held with other institutions (say your CBA mortgage) at the actual repayment you paid monthly...
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