Tenants in common or joint borrowers – an important decision.

We are often asked about buying a property with a partner, be them friends or family as an easy way of getting into the property market or expanding a portfolio faster than your could acting alone.  However there are traps and technicalities you need to consider. One answer is to buy as tenants-in-common where the […]

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Buying off the plan

Off the plan purchase is all in the developers favour. Would I buy property off the plan?  not in a million years!  That’s not to say that  lot’s of people are not happy with their off the plan purchase, but in my 12 years experience as a mortgage broker I have seen plenty of people […]

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Real Cost of the Mining Boom Bust

I read this post today in the Somersoft forum Some help please…desperate A background, foolishly I bought in Blackwater and Mackay when rents were crazy and out look was bright. Now rents in Blackwater have gone from $950pw, purchase price $495k to now $350pw and an agent told me today if I sold now I […]

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Hey Dad will you go guarantor for my home loan?

“Hey Dad will you be a guarantor for our home loan?”  This is not a new question for Mums and Dads as guaranteeing your kids loans has been a common practice for decades. My Dad guaranteed my first car loan way back in 1972 and without that guarantee I would have never qualified for the […]

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CRM for Mortgage Broker – available on your iPad

I have been developing an in-house CRM system for Peach Financial Group since 2002 using FileMaker Pro.  We wanted a system that was independent of their aggregator, which made life much easier when they moved aggregators in 2007.   Around that time  I released a free run-time stand alone version named Agent86 which has been […]

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The inconsistency of NAB’s procedures

I have long been a critic of NAB’s archaic attitude to mortgage brokers being forced to conduct face to face interviews with all clients.  Compared with most other lenders who require that we conduct telephone or Skype video interviews.   I have argued that we can record these interviews and if required provide the originals or […]

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Ban Break Fees or was that exit fees ..

I thought that headline would attract your attention and if you think break fees (break costs) are already banned then you are confusing exit fees and break fees which only apply to fixed rate home loans. The truth is that as a mortgage broker I don’t support a ban on break fees, that would make […]

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Investment Home Loans

At least half of all of our clients are investors looking for investment home loans and when you consider the fifteen thousand inquiries that we have dealt with over the past 12 years then you would think  that we have heard them all, however almost every week someone comes up with a plan or strategy […]

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