getting finance

[bbruham]

From: Bruce Graham


G'day Anonymous,
I've had a phone call today from a new
company in Milsons Point, Sydney.
This company was put on to me by my accountant.
This company is chasing new business.So if
you feel like giving them a call please do so.
Company name MortgagePort
Phone no. 0411 888 284
ask for Lindsay
There interest rate is 5.84% variable.
This is not a honeymoon rate,and no monthly
fees.
MortgagePort is a group of accountants who
formed this company.
So when you talk with them, you're talking
to an accountant.
I have every intention of doing business with
them if everything checks out.
Best of luck.
Bruce G.(Sydney)

 

[bbruham]

Reply: 1
From: Bruce Graham


G'day again,
Sorry I forgot to mention there's a start up fee of six hundred and sixty dollars.
Which isn't too bad when you compare the
interest rate of 5.84%.
Bruce G.(Sydney)

 

[WebBoard]

getting finance - a caution

Reply: 1.1
From: Matthew Brooks


Bruce

A thought for you to consider (which you may have already) is that there is more to a finance package than simply the interest rate. It mention this because you emphasise the rate factor in both your posts.

I'm not familiar with MortgagePort, so I won't comment there, save to say that I'm not sure that their being accountants is necessarily in their favour - indeed in my more jaundiced moments I'd class it as a disadvantage.

Elements to consider with financing include: do your needs today differ from your needs tomorrow?, will the loan structure accommodate unforseen changes?, are multiple properties being cross-collateralised un-necessarily?, what does it cost you to escape/restructure?

I could go on for ever with the different permutations possible in the finance game (and it is a game, where it's of vital importance to know the rules!).

Enough from me! I hope they prove to be as good for you as you anticipate they will be.

Matthew Brooks
Nutshell Investments
Personal Bankers

 

[NigelW]

getting finance - a caution

Reply: 1.1.1
From: Nigel W


Matthew

Tell us a bit more about "Nutshell Investments". (apart from the fact it's a reg bus name). What do you do?

Cheers
N.