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  1. M

    Finance for Self-employed expat

    Hi IRR, Subject to servicing, you should be able to do what you are wanting to do. The only think I would say is that for the increase on your current property, I would keep it as interest only rather than P&I, to give you more flexibility with your repayments (particularly as all debt is...
  2. M

    Stamp Duty Cuts in Victoria

    I beg to differ. In my experience the major problem for first home buyers is coming up with a deposit and a reduction in stamp duty, co-inciding with the re-adoption of 95% + LMI loans by quite a few lenders will open up the market to a lot more people.
  3. M

    Stamp Duty Cuts in Victoria

    It will be interesting to see how this will effect the Victorian market. Should give quite a boost to the lower/middle end of the market I would think: http://www.heraldsun.com.au/news/national/stamp-duty-cut-will-fire-property-market/story-e6frf7l6-1226004692426
  4. M

    US Commercial Property Bubble?

    Basile and Coloradorockies, you obviously didn't bother reading the article. Of course prices have dropped after the GFC, the point is that they should of dropped much further, but haven't because banks have artificially propped up prices by enabling loan terms to be extended at high LVR's.
  5. M

    CG trend of Melb

    Hi Primaus, I would have a look at either RP Data or Australian Property Monitors, and you should be able to access that information for specific suburbs. Regards, Cameron Perry
  6. M

    Funny Money

    I find it very hard to believe that any overseas lenders would want to risk funding developments here when its hard enough finding local funders willing to do it. I have heard quite a few stories like Mr Determined's, but funnily enough have never heard of a project that has successfully been...
  7. M

    Demographia 2011

    The median household is not the average household and the median house price is not the average house price. They are very different indicators. And it is very simplistic to analyse two markets based solely on either as they don't take into account the types of properties being purchased and...
  8. M

    Demographia 2011

    The whole point of my post was that the median house price does not tell you anything about the actual housing value, so why would it matter if they can afford the median property or not? The median property in New York may be a studio apartment and the median property in Melbourne may be a 3...
  9. M

    Demographia 2011

    It doesn't. It means that the family in the $600k 200sqm apartment could instead live in in a 120sqm 3 bedroom apartment and they would only have to pay $360k. You're totally missing the point. I'm not saying large properties equal high prices, I'm saying comparing cities based on median...
  10. M

    Demographia 2011

    The problem with these international property studies is that they never take into account the differences in size of properties. Melbourne's median price may be higher than London or New York's, but that is because most people in those cities are happy to live in studio apartments. It says...
  11. M

    Cash out,

    Also, there are still a couple of lenders who don't require proof of use for cash out if you would prefer not to go through the rigmarole of providing quotes for reno's, purchase contracts etc. Regards, Cameron Perry
  12. M

    Interest Rate Check - January 2011

    Charles and Kath, If you are unable to provide proof of income, I would probably be inclined to stay put as low docs are still quite difficult and would be more expensive than what you are paying. You can try asking CBA to reduce your rate, however if you are on a low doc it is unlikely they...
  13. M

    Interest Rate Check - January 2011

    mortgageman Hi CharlieandKath, Depending on the loan amount you have, you may be able to get a better deal elsewhere in the market. There are products out there with rates as low as 6.9%, or some lenders are price discounting at the moment. Regards, Cameron Perry
  14. M

    US Commercial Property Bubble?

    Alex, not all residential mortgages(or commercial mortgages) in the US are fixed rate mortgages, but besides I think you missed the point of the article. The point was that many commercial loans in the States have exceeded their maturity dates and are now highly leveraged due to the drop in...
  15. M

    US Commercial Property Bubble?

    Possibly Alex, but the problem will be that if the economy improves there will be pressure on the Feds to push rates up, which may trigger delinquencies in the commercial property market, so it's a double-edged sword. I don't think the risk in this sector approaches anything like the sub-prime...
  16. M

    US Commercial Property Bubble?

    I just came across an interesting article in the Financial Times by Gillian Tett, who is one of the best financial journalist's going around (I would highly recommend her book Fool's Gold, which deals with the origins of the sub-prime mortgage crisis), suggesting the US commercial property...
  17. M

    Interest rates...impact of floods?

    Very interesting Ms Jade. I hadn't read the article you linked to before posting. The Herald Sun article is short on analysis, but does represent a widespread school of thought that the floods will increase pressure on rates. Ian Verrender's article seems a bit contradictory, in that it states...
  18. M

    Interest rates...impact of floods?

    This is definitely going to impact inflation in the short term, which already was pushing the RBA for a February rise: http://www.heraldsun.com.au/business/australias-inflation-rate-on-the-rise/story-e6frfh4f-1225989515280 There is also the impact of stimulus from government disaster...
  19. M

    refinancing to convert PPOR to IP?

    Hi Daniel, This is not tax advice (blah blah) but yes the use of the funds is what is important, not the use of the security. So if you use the funds for purchasing a PPOR, the loan would not be tax-decuctible. If you used the loan for investing in managed funds (or purchasing an investment...
  20. M

    why the big banks are sending developers to the wall

    The irony is, by being so ruthless and not being willing to work with their clients they are greatly increasing the number of bad loans on their books. Regards, Cameron Perry Perry Financial Strategies
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