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General Thread 01 for 2013

Started by mark300, Jan 01 2013 12:59 AM

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#2061 Shaz

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Posted 10 January 2013 - 01:16 PM

Nah, you can't capitilize LMI nor SD on top of the lend.

Some companies will allow you to capitalize the LMI on top, but be aware, that it DOES bump your LVR even higher, and can cause approval issues because its considered HIGH RISK. Then, they will generally say because its a high risk, then the rate is higher too (Which makes no sense at all, except from a profit point of view)

95% LVR loans are rarely approved, and IF they do, you get shafted. Do yourself a favour, and try to avoid it.


Shaz, what are the rules with borrowing more than the house is worth for reno's and whitegoods?


There is just one rule. You can't. No lender in Australia will do a 100% LVR.
 


I put up with people from amnesty, red cross and now the cancer council almost daily hounding me!! Throw in the greens, green peace, unhcr, save the forking children and I've well and truly hit my limit for the number of fuckstains wanting me to sign something or give money. Seriously cubts,  :fork: right off.
 

 

#2062 ams

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Posted 10 January 2013 - 01:17 PM

There is just one rule. You can't. No lender in Australia will do a 100% LVR.


Mafia.

Ugh i could ramble on for forking days about this stuff.

#2063 Morgan

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Posted 10 January 2013 - 01:17 PM

Plan:
Buy cheap, run down place

Spend $50k on renos

Sell for profit.

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#2064 B4TT

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Posted 10 January 2013 - 01:18 PM

Maybe we should just all inherit more coal! that will work.

 

#2065 Shaz

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Posted 10 January 2013 - 01:18 PM


Mafia.


Or Parents/Relatives.
 


I put up with people from amnesty, red cross and now the cancer council almost daily hounding me!! Throw in the greens, green peace, unhcr, save the forking children and I've well and truly hit my limit for the number of fuckstains wanting me to sign something or give money. Seriously cubts,  :fork: right off.
 

 

#2066 B4TT

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Posted 10 January 2013 - 01:19 PM


Or Parents/Relatives.

That would be awesome, wish mine would buy me a house.

 

#2067 Delete This Account

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Posted 10 January 2013 - 01:19 PM

Plan:
Buy cheap, run down place

Spend $50k on renos

Sell for profit.

Snap.

#2068 Shaz

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Posted 10 January 2013 - 01:19 PM

Plan:
Buy cheap, run down place

Spend $50k on renos

Sell for profit.


Put in 10%.
Apply for $50k personal loan
Renovate property
Sell property
Payback Personal Loan
Use rest of funds to purchase new property
etc
 


I put up with people from amnesty, red cross and now the cancer council almost daily hounding me!! Throw in the greens, green peace, unhcr, save the forking children and I've well and truly hit my limit for the number of fuckstains wanting me to sign something or give money. Seriously cubts,  :fork: right off.
 

 

#2069 ams

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Posted 10 January 2013 - 01:21 PM

Or Parents/Relatives.


My family has ties to eastern europe.....so.....mafia.

Ugh i could ramble on for forking days about this stuff.

#2070 Delete This Account

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Posted 10 January 2013 - 01:21 PM

Shaz.

Can you hit Morgan and I up with a loan with 1% deposit and a low rate.

What stops you from doing such a thing?

:P

#2071 Morgan

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Posted 10 January 2013 - 01:21 PM

Or,

Buy a house

Insure it for more than it's worth

Roll it

Write it off

Get insurance money


...wait

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#2072 Shaz

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Posted 10 January 2013 - 01:23 PM

Or,

Buy a house

Insure it for more than it's worth

Kickflip

Write it off

Get insurance money


...wait


Shaz.

Can you hit Morgan and I up with a loan with 1% deposit and a low rate.

What stops you from doing such a thing?

:P


I can get close to the 5% mark for lending at the moment.
If you are staff, you can do a 90% lend, and not have to pay LMI. Thats a pretty wicked benefit.
 


I put up with people from amnesty, red cross and now the cancer council almost daily hounding me!! Throw in the greens, green peace, unhcr, save the forking children and I've well and truly hit my limit for the number of fuckstains wanting me to sign something or give money. Seriously cubts,  :fork: right off.
 

 

#2073 B4TT

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Posted 10 January 2013 - 01:23 PM

hahahahhahaahahahhahahahahahahaa Funny farker Morgan.

 

#2074 Morgan

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Posted 10 January 2013 - 01:24 PM

KICKFLIP

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#2075 Delete This Account

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Posted 10 January 2013 - 01:24 PM


I can get close to the 5% mark for lending at the moment.
If you are staff, you can do a 90% lend, and not have to pay LMI. Thats a pretty wicked benefit.

So what deposit would that bring the calculation you did early for me down to?

#2076 Shaz

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Posted 10 January 2013 - 01:25 PM

So what deposit would that bring the calculation you did early for me down to?


?

The deposit would remain the same, you just don't need to pay the $4k LMI.
That 5% figure is the rate I can do, not the deposit amount :P
 


I put up with people from amnesty, red cross and now the cancer council almost daily hounding me!! Throw in the greens, green peace, unhcr, save the forking children and I've well and truly hit my limit for the number of fuckstains wanting me to sign something or give money. Seriously cubts,  :fork: right off.
 

 

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Posted 10 January 2013 - 01:26 PM

I thought you said you can get close to 5% mark.

Ahhh I see, you're talking about rate, not deposit. :)

#2078 ams

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Posted 10 January 2013 - 01:31 PM

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Ugh i could ramble on for forking days about this stuff.

#2079 Delete This Account

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Posted 10 January 2013 - 01:32 PM


#2080 ams

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Posted 10 January 2013 - 01:32 PM

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Ugh i could ramble on for forking days about this stuff.
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