Recent content by ScottO

Hi, Hoping the brokers out there are able to give me some guidance on this one. I currently have a personal loan of approx $25k, paying 7.95% interest, which I will pay off in the next two years. I have the opportunity to transfer this balance to a credit card for 24 months at 2.9%. Obviously...

Just signed up with Citibank Signature Visa. $0 annual fee for life. It's a bit of a "hidden" deal as its not advertised on their usual website, comes under a family and friends deal. http://www.citibank.com.au/familyandfriends/ Cheers

Answers my question. Thanks!

Just seeking advice on what insurance to take out on a new purchase. We have just signed a contract of sale and understand we need to take out insurance on the property as the risk passes onto us as soon as contracts are signed. Settlement is not for 8 weeks. There is currently a tenant in place...

Gee time flies by! Can't believe it was 2.5 years ago I posted this. Thought I'd update the situation for all those interested and also look for some advice on Mum's next step. Mum is doing well, obviously missing the old man, but keeping herself busy, mainly socially busy (lunch/movies with the...

Thanks everyone for their replies. Definitely gives me a bit more food for thought. Kristine, loved your post! Especially the idea about being a Ladies Companion, will definitely have to run this past mum as a future career. You're right, who knows what mum will get up to in retirement, only...

Thanks Marg. Yeah definitely agree with letting Mum take her time, she's had the double whammy with losing dad and having finished work after 20 odd years, so its understandable she feels a little lost at the moment. We are doing our best to keep her busy and helping her through it. If we do...

Sorry Marg4000. Didn't mean to sound like I'm trying to control Mum's life for her. We certainly have talked about it, but dad's death was not too long ago so Mum is still trying to get over that before she has to make any decisions herself. Sorry, poor choice of words "more than likely"...

Hi, I was hoping I could get a few ideas in regards to helping Mum in her retirement. Unfortunately, Dad unexpectedly passed away late last year and turned things upside down for Mum. Myself and my brothers are trying to work out the best strategy for Mum going forward. Her current...

I know its an old post, but I would like to keep those of you who were interested at the time updated. We did manage to buy the PPOR on the Northern Beaches and also keep the IP in Adelaide. Working with Buzz we managed to refinance the IP up to 90% with the existing lender, who came in with...

Thanks all for your great responses. I have been in touch with Jane Slack-Smith aka Buzz who is a frequent on this forum and believes she is able to help me restructure things to make it work. I will keep you all posted to see how we get on. Scott

The current loan is with ANZ so refinancing to 95% is no longer an option. Just got off the phone and they will only go to 90%, so leave things a bit tight. I guess the other option is to possibly refinance with another institution who will do 95%. The other factor I guess would be LMI on...

Thanks Witzl. Never thought about trying to refinance the IP to 95%, I guess I need to speak to the current lender about that one. Looks like it could be a viable option (if valuation comes in as expected!). Unfortunately, borrowing from parents is probably not an option. Would be nice if it...

Thanks Andrew. When we purchased this property is was not on the radar for being an IP, only became that way when we moved to Sydney for work purposes. I agree with your comment in regards to having a PPOR to enjoy and raise the family. No family just yet, but one on the way, later this year :D...

Hi, This is our current situation. We currently have our only IP in Adelaide, initially purchased as PPOR in 2004. Purchased for $340k in 2004, current estimated market value would be about $380k. So the return has not been great. The IP is tenanted on a 12 month lease expiring Jan 2010 for...