Search found 331 matches

by Hoa Hong
Thu Jul 21, 2016 12:23 pm
Forum: Home Loan Forum
Topic: RAMS refinance cancellation nightmare
Replies: 1
Views: 6338

Re: RAMS refinance cancellation nightmare

Hi Charles_abc, This is a tricky situation and it would be best to speak with the Credit Ombudsman. With my thinking, as you have signed the loan documents, you agreed for RAMS to fund the loan. So once the funds were sent to the account, this completed the transaction. This is not the answer you wa...
by Hoa Hong
Wed Dec 09, 2015 1:16 pm
Forum: Home Loan Forum
Topic: 80% LVR Property Valuation
Replies: 1
Views: 10206

Re: 80% LVR Property Valuation

Hi kn13, With the Kerbside valuations, they are usually on mark with your purchase price as long as you are not paying too much for the property. Display homes are ideally a great product both internally and externally. If you are saying values are going around $699,000, there should not be too much...
by Hoa Hong
Sun Nov 15, 2015 11:17 pm
Forum: Home Loan Forum
Topic: 85% home loan with no LMI / waived LMI
Replies: 2
Views: 13473

Re: 85% home loan with no LMI / waived LMI

Hi Mark_mindy,

Without town sewerage, there are only a number of lenders who would consider this up to 70%.

Is this security on a very large acreage and does it have its own water?

At 85%, this lender is restricted to normal standard securities.
by Hoa Hong
Mon Sep 07, 2015 4:17 pm
Forum: Home Loan Forum
Topic: Can I get a home loan with Bad Credit of $15000
Replies: 4
Views: 7896

Re: Can I get a home loan with Bad Credit of $15000

Hi Iamnuke, The current amount of defaults, you've either paid or unpaid, is quite large for a mainstream lender to consider. When defaults are of this size, we need to work with specialist lenders to borrow up to 90% of the property value on an interest rate higher then the norm. But once your defa...
by Hoa Hong
Thu Aug 27, 2015 3:00 pm
Forum: Home Loan Forum
Topic: Home loan selection
Replies: 3
Views: 6455

Re: Home loan selection

Hi Chiru! In my personal opinion put out of the lenders rate wise BankAust has it in the bag but if the Lenders Mortgage Insurance is much higher then this will play against you as this means more funds from you and more funds are going to paid to LMI. The rate difference of 0.09% is not much to hag...
by Hoa Hong
Mon Aug 17, 2015 1:05 pm
Forum: Home Loan Forum
Topic: should I sell or keep current apartment
Replies: 3
Views: 6257

Re: should I sell or keep current apartment

Hi Adriancito10, Based on your current income and situation, the maximum lend is about $545,000. We would not be able to hold on both properties at the same time but the sale of your home will net about $220,000 with the loan amount of $545,000 can get close to what you want to purchase for. Maximum...
by Hoa Hong
Thu Jul 30, 2015 1:10 pm
Forum: Home Loan Forum
Topic: probability of getting loan for Melbourne apartment?
Replies: 1
Views: 5184

Re: probability of getting loan for Melbourne apartment?

Hi Citygal! Melbourne CBD will be in a situation of over supply soon with less people in the market due to the investment changes with the banks. If you are looking at getting a studio, it needs to be at least 45 sqm to be able to lend over 80%. With most banks, they are lending at maximum 80% to in...
by Hoa Hong
Mon Jun 29, 2015 12:10 pm
Forum: Commercial Loan Forum
Topic: Buying an established accommodation business
Replies: 1
Views: 18300

Re: Buying an established accommodation business

Hi petad, With the current security being a short term accommodation security, this would mean that we would need to put this with a commercial lender. When we approach commercial lenders, the maximum lending is usually around the 65% marker. With what you are looking at doing, we would require a mu...
by Hoa Hong
Wed Jun 24, 2015 6:23 pm
Forum: Property Investment Forum
Topic: What is the best LVR for a commercial development
Replies: 1
Views: 36125

Re: What is the best LVR for a commercial development

Hi Kumudu,

The maximum LVR would be 50% with no pre-sales. With pre-sales, it would be around a 65% - 70% lend. There can be as many applicants as you like. There are no limits :)

If you want to discuss this in detail, you can call 1300 889 743 or check out our website.
by Hoa Hong
Thu May 07, 2015 1:49 pm
Forum: Home Loan Forum
Topic: Is it better to pay off personal loan before saving deposit?
Replies: 3
Views: 5257

Re: Is it better to pay off personal loan before saving depo

Hi Coola,

Thats the plan! Pay down as fast as you can and get on to the property horse!

Always here to help!
by Hoa Hong
Tue May 05, 2015 2:20 pm
Forum: Home Loan Forum
Topic: Is it better to pay off personal loan before saving deposit?
Replies: 3
Views: 5257

Re: Is it better to pay off personal loan before saving depo

Hi Coola! Thank you for telling me your situation and glad your head is back in the right place =D The question you have put up is a age old question and can be debated for hours. Based on your current income and debt about the maximum lend is quite low which is around the $200,000 marker. This in A...
by Hoa Hong
Wed Apr 15, 2015 4:07 pm
Forum: Home Loan Forum
Topic: Hardship assistance
Replies: 1
Views: 3828

Re: Hardship assistance

Hi Netilicious52 Thank you for your enquiry, a few questions? - How much is your property worth and how much do you owe? - How much are you in arrears at the moment? Normal mainstream lenders will not assist here and we may have to go to a specialist lender to get your out of this lender then refina...
by Hoa Hong
Tue Apr 07, 2015 1:07 pm
Forum: Home Loan Forum
Topic: Not able to get loan approved for block near power lines
Replies: 3
Views: 12110

Re: Not able to get loan approved for block near power lines

Hi mate,

Usually the lender will be advised in the final valuation if there are any power lines.

The mains ones they are looking for is the high voltage ones with the big Eiffel tower power lines.
by Hoa Hong
Tue Apr 07, 2015 8:13 am
Forum: Home Loan Forum
Topic: Family equity loan
Replies: 7
Views: 8342

Re: Family equity loan

Hi Missile R, Apologiues for the delay in response I was a away for a bit. To purchase a home for $370,000 the bank would require approximately $100,000 to support you. It will be dependant on how much their home is worth, if it is worth $400,000 and they owe $300,000 then this would not work as the...
by Hoa Hong
Wed Mar 04, 2015 12:59 pm
Forum: Home Loan Forum
Topic: Family equity loan
Replies: 7
Views: 8342

Re: Family equity loan

Anytime =D Incomes looks strong at the moment, i will have the run the final figures you can run some using the" How Much I can borrower Calculator " To see if the parents have enough equity you can use the Guarantor Home Loan Calculator . Or reply back to this thread with their current value and cu...