Salary - $35 K Increased to $47 K

Hey there K,

I wouldn't advise a client to sign a contract OTP for 2 yrs Settlement. Too many variables in today's market. Especially with finance.

5 yrs ago when momey was easy to come by, then may be.:rolleyes:

You won't want to go to ANZ anymore, servicing has changed considerably since '08.

Regards, JO
 
josko said:
Hey there K,

I wouldn't advise a client to sign a contract OTP for 2 yrs Settlement. Too many variables in today's market. Especially with finance.

5 yrs ago when momey was easy to come by, then may be.:rolleyes:

You won't want to go to ANZ anymore, servicing has changed considerably since '08.

Regards, JO
Click to expand...

i should probably have written a new topic. this is from 2008

:)
 
Basically..... I'm just curious how much more power I will have with the banks in regards to how much more they will lend me when i'm on 55 K pa. An extra 6 K pa earnt will help.

I'm guessing it will add another 30 to 40 K's ?
 
Salary increased again From $35 K -> $58 K-$63 K pa woohoo

Wooohooo... I have been reclassed and will now earn Level 3, PSGA, $58,010 - $62,984 pa. I am tempted to go for the higher re-classed jobs in my area but do not want the associated long hours/stress involved. Money is not everything to me and is not the most important thing to me.

So... since 2008, my salary has gone up from $35 K pa to $58 K pa. :D I'm so happy!

I plan to live off my old pay amount and save the pay rise!


I think I'll make an appointment with a mb to find out what amount I would be able to borrow on my new income. I'm really curious. I'm thinking maybe $250 K.
 
On that new income you can borrow more than $250k, especially if it was an IP (assuming you don't have any other properties).
 
Alex P Keaton said:
Do you guys think buying off the plan could be a good option for me? At least then if I pay the 10% deposit the value could increase until time to settle. But what would happen then if I cant service it? It would have to be something I would be able afford and service in the future if I bought off the plan.

Any advice?
Click to expand...

DOn't do off the plan unless you have strong asset based + employment history.

Im in the process of applying finance for a OTP unit on the qld waters (Hercules St, Hamilton ) purchase for $350,000 in 2009- now there are the exact same unit selling for $320,000 --- 2 years later :(

Doesn't always go up ( Esp OTP) + high risk.

Regards
Michael
 
Alex P Keaton said:
Wooohooo... I have been reclassed and will now earn Level 3, PSGA, $58,010 - $62,984 pa. I am tempted to go for the higher re-classed jobs in my area but do not want the associated long hours/stress involved. Money is not everything to me and is not the most important thing to me.

So... since 2008, my salary has gone up from $35 K pa to $58 K pa. :D I'm so happy!

I plan to live off my old pay amount and save the pay rise!


I think I'll make an appointment with a mb to find out what amount I would be able to borrow on my new income. I'm really curious. I'm thinking maybe $250 K.
Click to expand...

Well done !

Extra $$$ into offset against the PPOR mortgage ?
 
Alex P Keaton said:
So... since 2008, my salary has gone up from $35 K pa to $58 K pa. :D I'm so happy!
Click to expand...
Heh, familiar figures. I started work on $35k and quit on $58k. Must be good public service figures, since I was a level 1 grunt back then. This was 1999 to 2005 though, and I had some time off on maternity leave in the middle of that.

Kinda makes me wish that back then I knew about property investment, since houses cost < $150k in Adelaide back then.

I don't know what I earn these days ... :eek:
 
Alex P Keaton said:
thanks, i have been acting in the position for the past 6 months or so and the other week just had an interview for the job. Will know in about 8 weeks if im successful or not. There is a good chance seeing that there were a few positions going.

:)
Click to expand...

Congrats on the reclassification to Level 3, PSGA. Won't have a clue that that is but sounds impressive.:p

Cricky 8 weeks :eek:. Must be a government job for sure. Try the private sector. Any more than 1-2 week after an interview and you can be sure that someone else has the job.
Any options for looking in the private sector as well and seeing if you can earn even more than in your government job for equivalent skills. Normally government pays much less than the private sector (but I suppose you make it up in additional benefits). But benefits don't pay the mortgage.
 
well done. 80% pay rise in 3 years.
thats pretty impressive.
Click to expand...

Anyone else out there in the private sector who has had an 80% increase in 3 years, given that in the private sector (other than mining) there is not much in the way of good news?

Cricky 8 weeks . Must be a government job for sure.
Click to expand...

Gotta love our taxes at work.
 
bluestorm said:
Congrats on the reclassification to Level 3, PSGA. Won't have a clue that that is but sounds impressive.:p

Cricky 8 weeks :eek:. Must be a government job for sure. Try the private sector. Any more than 1-2 week after an interview and you can be sure that someone else has the job.
Any options for looking in the private sector as well and seeing if you can earn even more than in your government job for equivalent skills. Normally government pays much less than the private sector (but I suppose you make it up in additional benefits). But benefits don't pay the mortgage.
Click to expand...

i would think 8 weeks is quick. surely you would need an investigation, followed by an enquiry, referred back to the original bored. the bored (not sic) followed by an investigation with an enquiry. decision = do nothing. contact hr, we need to hire another three people to determine if alex should get a pay rise. (oh god lets hope there's not an appeal)
 
Govt jobs are great for lifestyle. People there are also friendlier and more relaxed so it makes for a better working environment.
 
BayView said:
Anyone else out there in the private sector who has had an 80% increase in 3 years, given that in the private sector (other than mining) there is not much in the way of good news?



Gotta love our taxes at work.
Click to expand...

yeah good one.

Ignore the fact that she has gotten 3 promotions, or new jobs to achieve this altogether and compare it to - what are you are comparing it to exactly ? In private industry, when people get a job moving "up " in their career, do they not get a payrise, or do they not get as much of a pay rise....

perks of being a payg employee and all that
 
BayView said:
Anyone else out there in the private sector who has had an 80% increase in 3 years, given that in the private sector (other than mining) there is not much in the way of good news?
Click to expand...

Yes, but I was at the low end of the market to start with. (25k in 2008, 56k now - construction)
 
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