Search found 53 matches

by boon
Wed Nov 26, 2014 1:57 pm
Forum: Home Loan Forum
Topic: Rental history as genuine savings?
Replies: 7
Views: 11089

Re: Rental history as genuine savings?

Thank you for the explanation, Otto. I will call you soon when I am together with my husband.
by boon
Wed Nov 26, 2014 12:11 pm
Forum: Home Loan Forum
Topic: Rental history as genuine savings?
Replies: 7
Views: 11089

Re: Rental history as genuine savings?

So if the rent we are paying is considered as genuine savings, will I have any restrictions on my home loan?
by boon
Wed Nov 26, 2014 10:56 am
Forum: Home Loan Forum
Topic: Rental history as genuine savings?
Replies: 7
Views: 11089

Rental history as genuine savings?

Hi there!

I'm just thinking about getting a property and looking at my options. When does rent count as 'genuine savings’? Or isn’t it considered genuine savings anymore? I am really confused. If the rent is counted as genuine savings, can the deposit be from other means? We have another property, but not sure how much equity is there.

My husband has a web development business and I think he has about 4 yrs of tax returns. The income is not really great - maybe $40K a year. We had been travelling a lot, and this year the income should be more. We are hoping that it's going to be about $60K this year. But I think we have to wait until my husband does his taxes so I have the actual numbers for you. On top of that my income is $20K this year from a part time job.

We are looking for a property around the $400K mark - up the central coast and out of Bondi :) Our other property is an investment property btw. Could anyone provide me some tips for my situation?
by boon
Wed Oct 29, 2014 3:02 pm
Forum: Home Loan Forum
Topic: Are there special home loan provisions for lawyers?
Replies: 7
Views: 10165

Re: Are there special home loan provisions for lawyers?

Thank you for taking the time to answer my queries. I will call you guys next week and work out the best option available to me.

Cheers!
by boon
Wed Oct 29, 2014 1:43 pm
Forum: Home Loan Forum
Topic: Are there special home loan provisions for lawyers?
Replies: 7
Views: 10165

Re: Are there special home loan provisions for lawyers?

Which industry association should I be a member of in order to be eligible for interest rate discounts? Could you tell me about that?

Also, my income is not over $150,000. What will be the size of the LMI premium I am required to pay if I take out a loan of about $1 million?
by boon
Wed Oct 29, 2014 12:12 pm
Forum: Home Loan Forum
Topic: Are there special home loan provisions for lawyers?
Replies: 7
Views: 10165

Are there special home loan provisions for lawyers?

Hi home loan experts!

I am a lawyer working for a law firm in Sydney. My annual salary is $72,000 and my income including bonus and commission is around $85,000. I want to buy a new house, and my colleagues were saying that banks may have special offers while giving out home loans to lawyers.

Could anyone tell me of the various special provisions that are offered to lawyers?
by boon
Mon Oct 27, 2014 12:00 pm
Forum: Home Loan Forum
Topic: How much can I borrow to qualify for waived LMI?
Replies: 7
Views: 10334

Re: How much can I borrow to qualify for waived LMI?

Ohhh! I was totally not aware of this. Thanks for sharing this info with me. As for my loan, I will probably call you in a day or two to discuss about it.
by boon
Sun Oct 26, 2014 12:01 pm
Forum: Home Loan Forum
Topic: How much can I borrow to qualify for waived LMI?
Replies: 7
Views: 10334

Re: How much can I borrow to qualify for waived LMI?

Hi there, I was going through this post to know more about how to be eligible for waived LMI. I am planning on buying a house and I need a loan to complete the purchase. Although I found the answers on waived LMI, I am still not sure about one thing. What does LVR actually mean? How is this actually calculated?
by boon
Fri Sep 19, 2014 7:59 pm
Forum: Home Loan Forum
Topic: Should we fix the rate on our mortgage or not?
Replies: 7
Views: 9230

Re: Should we fix the rate on our mortgage or not?

Aw, man! I had a feeling it was too good to be true… Oh well, thanks for your help. If I want to learn more then I’ll call your office. Bye.
by boon
Fri Sep 19, 2014 7:46 am
Forum: Home Loan Forum
Topic: Should we fix the rate on our mortgage or not?
Replies: 7
Views: 9230

Re: Should we fix the rate on our mortgage or not?

Hey there,

I’ve lived in Emerald, Queensland, all my life, and in a couple of months I’m moving to Brisbane and settling there. I’m planning on taking out a fixed rate mortgage to finance the purchase of a house.

There are two things I want to understand. First, where can I find an estimate of my exit fees if they ever come into relevance? Second, I found out that some banks have no mention of any exit fees. Do they really have no exit fees or is it too good to be true?
by boon
Mon Sep 01, 2014 3:11 pm
Forum: Commercial Loan Forum
Topic: Do banks assess all commercial properties in the same way?
Replies: 7
Views: 18394

Re: Do banks assess all commercial properties in the same wa

I got my answer, thank you. I went through your website and it helped me find out even more. I recommended you guys to my friends as well. Bye.
by boon
Sat Aug 30, 2014 11:23 am
Forum: Commercial Loan Forum
Topic: Do banks assess all commercial properties in the same way?
Replies: 7
Views: 18394

Re: Do banks assess all commercial properties in the same wa

Hello everyone. I wanted to take out a commercial loan but I realised that I might not have a good credit history. Can I still apply for one despite my credit history? I would also like to know what records count as bad credit and what do not.
by boon
Tue Aug 26, 2014 2:54 pm
Forum: Home Loan Forum
Topic: Can I apply for a loan with a new job?
Replies: 7
Views: 9892

Re: Can I apply for a loan with a new job?

Oh wow didn’t know about that! Let me call you guys up to see if it’s possible for my loan to be approved with the particular lender you are talking about. Speak to you soon!!
by boon
Tue Aug 26, 2014 11:12 am
Forum: Home Loan Forum
Topic: Can I apply for a loan with a new job?
Replies: 7
Views: 9892

Re: Can I apply for a loan with a new job?

Hi there, I have been offered a job at this big multinational company and I will be starting my work from next month. Could I apply for a loan even if I haven’t exactly started working at the new place?
by boon
Thu Aug 21, 2014 2:02 pm
Forum: Home Loan Forum
Topic: How can I qualify for an LMI waiver?
Replies: 7
Views: 10644

Re: How can I qualify for an LMI waiver?

That is great news for me. I will need to talk to my parents first and will contact your office after that.

Thanks,
boon