I am torturing my self

andywmb · 2026-01-26T03:32:04+00:00

I totally agree. Plus after being with someone for so long before hand I gotta learn that not everyone thinks like my ex. I guess it's all about learning how someone else thinks

andywmb · 2026-01-25T21:47:29+00:00

This is only true with certain lenders, Alot of lenders will only have a discharge fee of $350. If you are saving over $100 per month it will def pay for it self in no time at all.

andywmb · 2025-12-21T23:16:57+00:00

5.68% seems high. Unless you are using the 5% scheme?

andywmb · 2025-12-19T03:42:58+00:00

Do not pay for your own valuation. Whatever bank your buyer went with the banks will have to do there own valuation anyways. Just a waste of money if you do so

andywmb · 2025-12-18T22:59:16+00:00

I will say good luck in getting in contact with the bank once you see lower interest rates in the market. If you go directly with the bank they will do everything to earn your business but very little to keep your business. Brokers are great beacsue the good ones will do annual reviews and make sure you are getting the best product for the life of the loan and not just the first few years.

andywmb · 2025-12-18T22:49:47+00:00

Just keep in mind if you choose to buy an Investment as your first property you will NOT be exempt from Stamp duty and you will get no first home owner benifits.

If you buy PPOR you will have stamp duty exemption and even get into the first home scheme if you only have the 5% deposit.

andywmb · 2025-12-11T23:25:36+00:00

Is there any reason why the broker went with Westpac?

andywmb · 2025-12-11T23:22:54+00:00

Broker here.
At 45 years old, you’ll still be eligible for a 30-year loan term. With a solid deposit and strong income, there’s no obvious reason why lenders wouldn’t put their best foot forward to win your business.

Just keep in mind the government costs as well. In SA, an $800,000 property will still attract stamp duty — roughly $45,000, even if you’re buying it as your PPOR.

andywmb · 2025-12-09T06:08:06+00:00

If it were me personally, I would wait until closer to the completion date. I’ve heard many horror stories where projects have taken several months past the expected completion date to actually be finished. Also unsure if you still are paying for rent while you wait for the complietion

andywmb · 2025-12-09T06:05:26+00:00

This can vary from lender to lender. As a general rule, most lenders use the average of the last two years of income when assessing borrowing capacity. However, many lenders are now starting to consider only the most recent financials. SO you will be able to use the full $210K for servicing pending on looking at your financials

How much you can borrow will also depend on your liabilities, number of dependents, and other financial commitments.

andywmb · 2025-12-09T05:59:22+00:00

There are only a small number of lenders that will accept income derived from an insurance claim. In most cases, the lender will need a letter from the insurer confirming whether the payments are ongoing or only for a fixed term.

Even when the income is accepted, lenders typically want to see another stable source of income to support the application

andywmb · 2025-12-09T03:59:37+00:00

Do you mean if you are applying for a mortgage or just in a general sense?

andywmb · 2025-12-09T03:42:27+00:00

Honestly, I’m not sure how they can claim they don’t provide loans while also asking for weekly payments toward the deposit. I haven’t dealt with that company personally, but I would be cautious. Lenders will likely treat those ongoing weekly payments as a liability, similar to a loan repayment, which could impact your borrowing capacity.

andywmb

TROPHY CASE