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Just wondering if anyone is going to Bill Zheng's Investors Direct Seminars (Aug/Sep)? I recall a while ago a Bill came up with a cashflow mortgage scheme.....Interested to what he's suggesting we need to do for an "opportunity to increase your wealth of $50k".

I just read about this today and thought I'd give it a go. http://itunes.apple.com/au/app/id375054462 Check out this image.... Is it me or is there something wrong with the data here?

Fair enough.....thanks for all the replies everyone. :)

Rolf, Long story....a broker arranged the loan, and I was told it was ING. It appears that it went through a mortgage manager called Legacy Financial (http://legacyfinancial.com.au/). More recently, a company called IDEN Group took over my loan from Legacy Financial. No LMI was taken...

First Year 1.6% Second Year 1.3% Third Year 1.00% Fourth Year 0.7% Fifth Year 0.4%

Was yours a fixed or variable loan?

Rolf, I'll check tonight. I don't have any issues in paying it.....I signed the agreement. I just wondered if anyone had successfully challenged these fees before

Just been thinking about this .....If I do this now after 1 July 2010, will that be covered by the National Credit Act and could that be in my favour?

No, I want to refinance to another loan (not a LOC) and pull out some equity at the same time for the next IP. I'll investigate that option though...thanks !

It's PPOR. Interesting idea....I'll remember that one tobe....but it's an ING Full Doc LOC.

Ok....I'm happy with $6k !! It's a bank - ING.

Hi All, I have looked into refinancing to a cheaper loan. I'm currently on a 7.42% variable rate since Dec 2008 (yes it's about 1% more than it should be!). The "Early Repayment Fees" would be $6,656.00 = to 1.3% of original loan amount. I understand break costs for Fixed Rate loans...

Thanks Rolf/PT_Bear I am paid Gross and pay my own tax. PSI rules are not applicable due to the Partnership arrangement. I have one employer and have had so for the past 5 years. I thought our previous loans were not done as self employed....will double check with the broker.

I can provide a contract which states my hourly rate and period of employment. I can also provide historical contracts and distribution statements (payslip equivalent) to show consistent income as well as Tax Returns showing consistent income over several years. Would that still be...

Thanks Rolf by a broker

I've been advised that since my wife and I receive income via a partnership (I'm a contractor) that the maximum lend we can obtain for our next IP is 80%. This is because we're classed as self employed (even though we have very regular income). Our first IP (2007) was financed at 90%...