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shape

Sydney, NSW
Joined 2 January 2011
Silver Member
5 years5 yearsshapeshape posted:
Declined by LMI - what to do next?

Then your fine, especially given the time-frame.

5 years5 yearsshapeshape posted:
Declined by LMI - what to do next?

Ohh got it.
Avoid QBE then...they dont like Loan and LMI defaults. Same goes for Auswide LMI.
You will need to try ANZ LMI ( under 90% LVR if new customer or…

5 years5 yearsshapeshape posted:
Declined by LMI - what to do next?

What i meant was " who was Default with" - ie was it a default on paying a bill with Telstra, A credit card company, Private company etc...
Genworth is the…

5 years5 yearsshapeshape posted:
Declined by LMI - what to do next?

You have the option to use other LMI provider OR a bank that has their own DUA ( Some bank has their own internal insurance OR some banks has authority…

9 years9 yearsshapeshape posted:
Financing Questions Regarding a new off the plan purchase

If it's " Australian citizens with partners on a temporary visa. " Your guys as a couple will be considered as a NORMAL loan under normal policy as at least…

9 years9 yearsshapeshape posted:
Financing Questions Regarding a new off the plan purchase

1. I can't see why CBA would not lend against Greenway....CBA is one of the most easiest lenders in term of location and property type. If CBA won't touch this…

10 years10 yearsshapeshape posted:
Include inclusions/upgrades in quote for Valuation?

If it's not included into the fixed price contract than the cost will come out from your own pocket ..ie can't be borrowed from the bank at the initial stage.
So…

10 years10 yearsshapeshape posted:
How long should a response from a mortgage broker take?

Anything more than 1 days with no reply is horrible customer service...the min should be at least an update on time etc...
We live in fast pace world and everyone is…

10 years10 yearsshapeshape posted:
FHO - having trouble with vacant lot finance w CBA

Environmental issues on a valuation is subject to the lender and LMI.
So it will come down to the valuation report nad if there's any positive sign to offset the High…

10 years10 yearsshapeshape posted:
Builder Progress Payments

Most banks have a standard, from the figures your going off StG will be ok to change it to the builders specification ELSE as mentioned you can also get the…

10 years10 yearsshapeshape posted:
FHOG Question - One eligible person in couple

If you can afford the loan under your name only, than you can apply for the loan under your name only- but that's beside the point....the point is your "…

10 years10 yearsshapeshape posted:
Unconditional Approval, but questions around settlement

14 days settles from date the notice was sere is common for Off the plan and vacant lands.
1. Try to get an extension to 21 days, it be less stressful…

10 years10 yearsshapeshape posted:
FHOG Question - One eligible person in couple

This is the part I am looking at as they define de-facto as having lived together at least two years, of which we haven't.
I will find out as much info…

10 years10 yearsshapeshape posted:
St George Construction Loan

Yes they will.

10 years10 yearsshapeshape posted:
Lender's mortgage insurance - how did you pay it?

P.s Hi jamie :)
Good to see you here as well.
By the way jamie is based in ACT if you need to meet a broker face to…

10 years10 yearsshapeshape posted:
Lender's mortgage insurance - how did you pay it?

90% LVR + LMi - No issues, some good rates as well.
95% + LMI- A lot tricker and only fits the right client type as only 3 lenders will do…

10 years10 yearsshapeshape posted:
Land, tender, finance - which order to do them in?

Best if you have the building quote ready, so you know the valuation on the building quote is ok and the loan will be approved...but i know this is not…

10 years10 yearsshapeshape posted:
Land loan & construction loan question

Yes no LMI payable as LVR is under 80%...
But why would you want to pay out the land loan and rely on the equity???
Cash is always better than equity..as equity…

10 years10 yearsshapeshape posted:
Westpac - 5 progress payments only

5 is normal ...6 including deposit is also normal :)
>5-6 progress payment occurs normally with the smaller builders/private builders as they have a very tight…

10 years10 yearsshapeshape posted:
Paying rent affecting borrowing capacity to build? WTF

Speak to someone else in the bank or a broker.
if it's an Owners occupied build the bank won't take in consideration the rent that your buying that's just stupid...
Numbers you…

10 years10 yearsshapeshape posted:
What a nightmare

$200 defaults is ok.
However you def can't apply for NAB as you have a default mortgage listing with NAB; one reasons why it's not always worthwhile going with your same…

10 years10 yearsshapeshape posted:
Home loan for brother

^ That's a very very expensive exercise..
1. You may be liability for CG tax
2. Your brother has to pay stamp duty again
Regarding his borrowing capacity, on a 63k income…

10 years10 yearsshapeshape posted:
First Home Builders Grant 30k Tas

Presuming your $25,000 is "available equity" than you won't need to put any deposit/cash towards the build as you have enough equity to meet the required 5% genuine savings deposit…

11 years11 yearsshapeshape posted:
Where to start for a two newbies!

Casual income is ok - but needs to show 6-12 month history as a min depending on the lender and LVR ( Loan to debt ratio)

11 years11 yearsshapeshape posted:
Roadblock

Tom has provided some excellent feedback already, ill a bit of my 2cent if i may :)
1. You might want consider lenders that loans above…

11 years11 yearsshapeshape posted:
Low valuation - what to do?

What i mean is rebated prices has no bearing on the "true" value.
Meaning if it's worth $200,000 the valuer will value it has $200,000 based on 6 comparative recent sales…

11 years11 yearsshapeshape posted:
Low valuation - what to do?

Lender will not take in consideration any rebates...as it doesn't "Add" value to the property- its only adds value to your bottom pocket ; which got noting to do with…

11 years11 yearsshapeshape posted:
Low valuation - what to do?

ya there are few blocks which have been sold in that estate, i am trying to finding data on those.The listed price for similar size blocks is in the…

11 years11 yearsshapeshape posted:
Low valuation - what to do?

You can get the bank to order the valuation, before proceeding.

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