Search found 47 matches

by sandysmith
Tue May 19, 2015 5:11 pm
Forum: Property Investment Forum
Topic: Has the policy changed for investment property loans?
Replies: 7
Views: 70600

Re: Has the policy changed for investment property loans?

Thank you for offering to help! I really appreciate it. I’ll talk to my husband about this matter tonight and will ask him to give you a call. Thanks again, Otto!
by sandysmith
Tue May 19, 2015 11:28 am
Forum: Property Investment Forum
Topic: Has the policy changed for investment property loans?
Replies: 7
Views: 70600

Re: Has the policy changed for investment property loans?

Hello there,

My husband is an investor. He owns a couple of properties and I’m sure he’s planning to invest in some more. I’d taken the day off from work today and as I was surfing the net, I read about the massive changes in the lending policy for investment loans.

I’ve yet to talk to my husband about this and maybe he’s already aware about the situation. In any case, can anyone here recommend how an investor should go about handling these changes?
by sandysmith
Fri Dec 12, 2014 4:17 pm
Forum: Home Loan Forum
Topic: What are the benefits of fixed rate home loan?
Replies: 7
Views: 10110

Re: What are the benefits of fixed rate home loan?

You’ve been very helpful. I’ll need assistance with my loan process as well, so I’ll be contacting you soon for more advice on my situation.

Thanks, mate.
by sandysmith
Fri Dec 12, 2014 11:59 am
Forum: Home Loan Forum
Topic: What are the benefits of fixed rate home loan?
Replies: 7
Views: 10110

Re: What are the benefits of fixed rate home loan?

Thanks for the information, Otto.

I see that we can receive more features with our loans now. You mentioned that we may be charged break fees. What are these exactly and when do they apply on my loan?
by sandysmith
Thu Dec 11, 2014 4:02 pm
Forum: Home Loan Forum
Topic: What are the benefits of fixed rate home loan?
Replies: 7
Views: 10110

What are the benefits of fixed rate home loan?

Hey,

I want to take out a loan to buy a new house. I've been working as a graphic designer for the past 4 years now, and earn around $45,000 a year. While enquiring with the bank, they mentioned variable rates and fixed rates. I have little knowledge about mortgages, so they explained it to me in brief.

I am interested in the fixed rate loan but I’m still not sure if I should apply for it yet. Are there any other benefits that a fixed home loan will offer?
by sandysmith
Mon Dec 01, 2014 1:23 pm
Forum: Home Loan Forum
Topic: What will be the cashflow from my property investment?
Replies: 7
Views: 9200

Re: What will be the cashflow from my property investment?

Hi everyone!

I am planning to take out a home loan too. I used the property purchase costs calculator and it gave me a general idea on the costs of my purchase. But it has been mentioned in this thread that the calculator takes into account government fees only.

What other non-government fees should I be expected to pay when I buy a property?
by sandysmith
Thu Nov 13, 2014 12:57 pm
Forum: Home Loan Forum
Topic: How does credit score affect my home loan?
Replies: 7
Views: 10267

Re: How does credit score affect my home loan?

I didn’t know all this info was recorded in my credit file. Can you tell me at what age is my credit file created and who can access it?
by sandysmith
Thu Nov 13, 2014 11:21 am
Forum: Home Loan Forum
Topic: How does credit score affect my home loan?
Replies: 7
Views: 10267

Re: How does credit score affect my home loan?

Hi Otto,

I didn’t know there is such a thing as a “credit file.” What exactly is recorded in my credit file?
by sandysmith
Thu Nov 13, 2014 10:21 am
Forum: Home Loan Forum
Topic: How does credit score affect my home loan?
Replies: 7
Views: 10267

How does credit score affect my home loan?

Hi guys, I live and work in Sydney as a freelance graphic designer. I earn about $52,000 annually. My wife is an engineer and has an annual salary of $80,000. One of my two children is in college and the other is completing high school this year. So, we are thinking of getting a smaller place to live in.

We have found an apartment on Kent Street that is ideal for us. The asking price is $419,000. However, we do not want to sell our current home, we will be renting it out. We still owe $320,000 on our house, and we want to get a home loan for the new place too.

I know that banks rely heavily on credit score while giving out a loan. However, I don’t have much idea on what my credit score is. I would be grateful if someone would tell me how to estimate my credit score, and its main determinants.
by sandysmith
Wed Nov 12, 2014 7:52 pm
Forum: Home Loan Forum
Topic: Australian in Thailand looking into home loans
Replies: 7
Views: 10251

Re: Australian in Thailand looking into home loans

Thanks for all your help, Otto. Your website has been a revelation. Great work on the content! I’ll tell my brother to call you guys if he wants to take out a home loan. Bye.
by sandysmith
Wed Nov 12, 2014 2:45 pm
Forum: Home Loan Forum
Topic: Australian in Thailand looking into home loans
Replies: 7
Views: 10251

Re: Australian in Thailand looking into home loans

Hi all.

I am an Australian expat and I want to send money to my brother who is residing in Australia. Can you tell me how I can transfer money easily and without much cost?
by sandysmith
Thu Oct 30, 2014 2:21 pm
Forum: Home Loan Forum
Topic: Is there another way to prove my income besides payslips?
Replies: 7
Views: 31669

Re: Is there another way to prove my income besides payslips

Thanks for sharing this info. I will call you in a week or so to discuss my loan application with you.
by sandysmith
Wed Oct 29, 2014 12:00 pm
Forum: Home Loan Forum
Topic: Is there another way to prove my income besides payslips?
Replies: 7
Views: 31669

Re: Is there another way to prove my income besides payslips

Hi there guys, I am also about to apply for a home loan. Luckily, I do have payslips to prove my income. But I’m not sure what kind of things banks look for in a payslip. Do banks look for particular info?
by sandysmith
Thu Oct 16, 2014 2:15 pm
Forum: Home Loan Forum
Topic: How does my credit score affect my home loan application?
Replies: 7
Views: 11088

Re: How does my credit score affect my home loan application

Thanks for the explanation. I will make it a point to contact you guys when I am ready to apply for a loan.
by sandysmith
Thu Oct 16, 2014 12:13 pm
Forum: Home Loan Forum
Topic: How does my credit score affect my home loan application?
Replies: 7
Views: 11088

Re: How does my credit score affect my home loan application

Hi Otto, thanks for the informative reply. I have one confusion, though. What do you mean by asset position in comparison to age and income?