Search results

  1. J

    Older peoples borrowing power

    I agree with Redom Macquarie is one of them. Downsizing or super would be an acceptable exit strategy :)
  2. J

    What is my Borrowing Capacity ?

    Agreed, some lenders use the Henderson poverty line as a base for living expenses. This is why it is not ideal to borrow the maximum with such lenders. However, it can be helpful if you receive income that is not allowed in the calculations.
  3. J

    Buy Investment Properties & Rent The House You Live In

    I recently spoke with a financial planner about a similar situation. After our discussion, we thought the clients could do the following: 1- Buy future PPOR as investment, financing 100% plus costs (interest and costs of running are tax deductible for 4 years). 2- In 4 years time, both...
  4. J

    It would be great if we could share our answers in social media.

    As an example: Quora has a fantastic way to share answers to questions on 5+ social media sites with the click of a button. I can also share my answers as a post in my Wordpress site which enables me to have more exposure personally and it helps quora receive many more visits from each person's...
  5. J

    4.58-4.75% IO fixed with offset and redraw

    The fixed rate period depends on your adversity to risk. If you would be more comfortable knowing what your repayments will be for the next 5 years then go for it. You have to bear in mind that they may come down more but historically, they are bound to go up again in the near/far future. I...
  6. J

    Westpac / Genworth

    Oh, that seems clear now. Whatever "topedoed" means. I asume now it was meant to be torpedoed. ;)
  7. J

    Minimum Deposit Required

    Only if you want to live in WA
  8. J

    Minimum Deposit Required

    Hi Brizza With that information alone and assuming the information is true and correct there are no other variables like high living expenses, HECS debt, dependants, spouse or defacto relationships etc, you could borrow between 350K and $480K depending on the lender. However, $30K would...
  9. J

    Offset accounts attached to fixed-rate loans

    ANZ will do 100% offset on a one year fixed rate only: http://www.anz.com/personal/home-loans/our-home-loans/fixed-rate/ I would also prefer to set up my clients with a Fixed+Variable with offset mix according to their particular situation.
  10. J

    Westpac / Genworth

    As far as I know, they are not self insured and use Genworth and QBE. Anything over 80% is in LMI (Genworth territory) except for the professionals package (up to 90%). ANZ is self insured.
  11. J

    Amp

    Hi Montoya I have had not problems with AMP and I agree with your comments. Not to forget that AMP has a basic home loan option that has not annual fee and you can link an offset account to it for $5 per month. Their basic variable rate is actually quite competitive given all your other...
  12. J

    Offsst basics and benefits

    Amen, I started doing this myself many years ago before I was a mortgage broker. Paying yourself first is definitely the way to go ;).
  13. J

    Offsst basics and benefits

    I agree with Albanga. Offset accounts are fantastic for both PPOR and IP if you are not going to spend the money on things you shouldn't. It is also great if you upgrade to another PPOR later and decide to keep this as an IP. The beauty of this is you don't have to decide now since an offset...
  14. J

    80% LVR to 90% + 1 IP

    Additionally, with ING, you can just get cash out for future investment purposes. Their policy quotes: "For LVRs above 85%, cash out will be limited to a maximum of 20% of the security value."
  15. J

    Choosing a Broker - a thread for the newbies

    Thanks Jess, although there is a lot of competition in the market, great brokers really stand out from the crowd. Loan structuring is something the banks and some brokers are not great at. At the end a great loan structure, coupled with a great lender and a competitive rate, will win every...
  16. J

    80% LVR to 90% + 1 IP

    I was about to post this too. In terms of servicing, ING is not the best but your current situation may still allow you to borrow up to 90% on a separate split like previously mentioned. Taking out a loan from another lender for your IP is a good idea. NAB, for example, will take actual...
  17. J

    Current Home Loan interest rates

    Hi Edison It all depends on your current situation but on borrowings of 750+ we have offerings as low 4.38%p.a. (Comparison rate 4.58% per annum) variable with a major lender. This is 0.96 discount on the variable rate of 5.34%. The discount is less but the standard rate is lower than the big...
  18. J

    Minimum Deposit Required

    As long as you leave the inheritance money in your account for at least 3 months, it should qualify as genuine savings. If you buy off the plan, you also need to have the money in your account for at least 3 months before you pay the initial deposit. Otherwise you will have to save an extra...
  19. J

    Fixed to SVR, lender has high rates

    Depending on the bank, you may get a good discount if you call them. What bank are you with?
Back
Top