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Hi Marty. I agree with you entirely. We want to buy 2-3 properties quickly, rate is reasonable. Before this we were just going to bite the bullet and incur LMI to build our portfolio. Proof will be in the pudding as my IP settles on Friday.

BOQ - Just requirement to have a CPA or CA I believe. No min income requirement. Most brokers wont mention BOQ as they dont have a brokerage arm nor do they pay referral fees. If borrowing over 500K 4.44% (not sure now with rate drop).

90% no LMI 95% = 1 loan at 90% on std rate, balance of 5% is a 5yr p&i loan with a personal loan rate. Basically personal loan dressed as a home loan. So at 90% it's fine but the extra 5 % will cost you. Can be useful by weighing up interest on 5% additional loan vs LMI savings and keeping...

Great call. I have a coffee mug from a seminar I went to with them. Doesn't keep coffee warm for long either. Useless.

True. But the CA course subjects run back to back so you finish it before the CPA course which has breaks between the subjects Like a band aid, get rid of it quickly!! Haha

Haha no I didn't do a 2 year course to become a CA just to obtain LMI waivers lol.. CA and CPA are much of a muchness really. As a generalisation you will need CA to work top tier firms. Most Accounting based auditors are CA's. CA course load is based on high end big business transactions...

I know some good accountants who are IPA. In general they are not looked upon with the same regard as CA or CPA.

Difficult to find a job at a firm otherwise. Firms do not recognise you as a qualified accountant unless you have one of these accreditations. Earning capacity increases also with this qualification.

After I finished the Chartered Accountant program I was wondering what I had been doing with all my spare time after work for the past 2 years. Something im glad I have done, but glad I will never have to go again...

My Chartered Accountant membership over the past 3 years has cost me 2400, about half the LMI I'm saving, so bout time it gave something back.. Just another piece of paper end of the day. I have met plenty of internal company accountants who are guns that are not qualified.

Correct Peter, so we are going with 90%.

Correct STG, Westpac etc will do 90% lends for accountants too. To clarify: BOQ will do 90% no LMI. They will do the additional 5% to 95% on a second loan/split on 5yr P&I, interest rate was almost 9% though. I guess if you have money in offset and pay down the additional 5% quickly you...

I'm an accountant, so nothing wrong with my spending habits. We have almost 90K in savings and some more in equity on existing IP. We are on combined incomes in excess of 170K so saving or servicing is not an issue. To address your point, looking to buy multiple properties in the...

I believe for BOQ purposes, they will only accept CA or CPA.

Jess it is. A fellow chartered accountant pointed it out to me. So given our serving is not an issue in our accumulation phase it is very helpful using it to acquire higher yielding properties.

Morning members, Applied for a loan today with Bank of Queensland I am a Chartered Accountant by profession.. Many lenders have special packages for medical professionals and some do for Accountanrs, however the Accountants packages usually have a minimum salary requirement of $150k.. AMP...