Another FY over...and what have you done

Discussion in 'Share Investing Strategies, Theories & Education' started by Nigel Ward, 29th Jun, 2007.

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  1. JamesGG

    JamesGG Member

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    18th Jun, 2015
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    Location:
    Rosebud, VIC
    Hiya,

    2007 has been a very good year for me. Things that immediately come to mind include;

    Exceeded all expectations at work; mine, the boss's, and clients (from what I've heard, at least).

    Bought another property.

    Removed a negative influence from my life, and I think I've found a positive one to replace her.

    Traded shares well enough to allow me my first trip overseas.

    Went overseas, and loved it :D


    Here's to 2008 being better again!

    Cheers

    James.
     
  2. bundy1964

    bundy1964 Well-Known Member

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    Location:
    Adelaide, SA
    I just sat down and worked out that since I started my margin loan I have grown it 126% in just under 6 months and there is still some dividends to be paid in as well as having pulled some cash.
     
  3. Simon Hampel

    Simon Hampel Founder Staff Member

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    Sydney
    mmm - I just checked mine, I increased my margin loan 302% over the financial year (most of that in the last 6 months). A couple of IP loan refinances and consolidating some other investments really helped there - added a lot of extra capital to be invested (with a corresponding increase in margin loan).
     
  4. tailcat

    tailcat Well-Known Member

    Joined:
    1st Jul, 2015
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    Location:
    Yeppoon
    Little fish in a big pond's report

    Here goes.....

    This was my first year back in the market after a three year break while I looked after family.

    Managed to by two more IPs:
    First in Brissy in April. This has already gone up by $20k.
    Second locally in Yeppoon in May, fingers crossed!!!!

    Now have 4 IPs and CG will soon make the total value break through the $1m mark.

    Just my luck, the IP I wanted to buy came on the market a week after I signed the contracts for the second IP. Couldn't buy it as I hit servicability issues:( . However, I am glad:) I got back into the market rather than waiting for the `perfect' buy.

    As a result of the above DSR problems, I have put a toe in the water by buying into three managed funds. Learning very quickly now..... get ready for some interesting (read technical) questions in the near future.....

    Just had a good reminder of why I need to get out of the rat race at work:mad:.

    Need to make the lazy dollars in my PPOR work for me!!!! This year's objective.....

    Tailcat
     
  5. hillsguy

    hillsguy Well-Known Member

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    Adelaide

    Gazza, assume you refer to Westpac when you say WBC ?

    I just contacted them as I do all my banking there and they advise me that they only offer 80% LVR loans. I would definitely be interested in tapping into the extra 5% on all my IP loans.

    Can you provide any more info here ? It would help.
     
  6. MichaelW

    MichaelW Well-Known Member

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    I can confirm that Westpac Banking Corporation (WBC) definately offer up to an 85% lend without LMI. They argue that they won't discount their headline rate as much for an 85% lend but when you push them they still do.

    I've got 85% lend on my loans with WBC and with a 0.8% reduction off the headline variable rate. They might be being nice to me due to the size of my loans though but not sure.

    Don't know what more to say except: go and ask for it!?

    Cheers,
    Michael.
     
  7. Glebe

    Glebe Well-Known Member

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    Central Coast NSW
    I'm with WBC, 85% lend, 7.37%. LOC's at 7.52%. Total loan of $722 500. No LMI.
     
  8. MichaelW

    MichaelW Well-Known Member

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    I'm at 85% lend and 7.27% :p
     
  9. hillsguy

    hillsguy Well-Known Member

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    Adelaide
    Michael, was the 85% part of a new loan ?

    They advised me that they lend up to 85% on a new loan. When I tried to tap into the extra equity ( in other words revalue IP's ) they do not do 80%.

    Does this make sense ?
     
  10. gazza

    gazza Well-Known Member

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    Canberra
    Yep as the others have said, definitely Westpac, definitely 85% LVR and definitely 7.37% interest rate. I used to have a LOC which was at a higher rate but replaced that when I refinanced with an investment loan with drawdown (suggested by my broker) so all my loans with them are at 7.37. Would have been nice to get 7.27 as per Michael though.
     
  11. pjb89

    pjb89 Active Member

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    Abu Dhabi
    Same here!

    I recently settled on another IP and recieved 85% lend without LMI. I also obtained a 0.8% reduction across all my other variable loans. What makes my situation a little different is that I work O/S, so achieving the 85% lend is entirely due to my broker - Rolf front and forward please!

    The 0.8% reduction is due to my debt level with WBC I believe.

    Hi ho hi ho it's off to work I go...

    Pedro
     
  12. gad

    gad Well-Known Member

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    Canberra
    I have also just refinanced 3 loans over to Westpac's Premiere Advantage package. 7.37% (including Offset account) & 85% LVR without MI. This was done through a mortgage broker. Pre-purchase approval for another as well.
    Appears to be the norm.
     
  13. hillsguy

    hillsguy Well-Known Member

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    Adelaide
    This is crazy ! Just spoke to my broker who mentioned that WBC will not lend me 85% unless I re-finance all my loans and take out a new loans. The new loans would allow me to borrow the 85%.

    I do a substantial amount of business with WBC and this is dissapointing. :mad: Maybe a test for my personal banker ? I'll be giving her a call this week. Watch this space ...
     
  14. Redwing

    Redwing Well-Known Member

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    WA
    :D :D :D

    I was looking at taking another $50k out of equity, but a quick chat with WBC reveals $120k may be more likely....Roll on New FY, maybe another new (to us) IP soon

    Hopefully NAVRA continues along at 10% + as we've taken out a ML to increase our holdings
     
  15. hillsguy

    hillsguy Well-Known Member

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    Adelaide
    Thought I'd share with you some interesting info ...

    As I mentioned previously ... when I contacted WBC they did not want to know me when I asked if it was possible to tap into the extra 5% equity taking total investment loans to 85% lend against IP's and no mortgage insurance.

    When I contacted my 'personal banker' yesterday it was a different story. 'No problem' she said. "Those people in the section you spoke to don't know about this".

    I nearly fell off my chair ! :eek: :eek:

    In any event ... what she proposed is to offer me the extra 5% equity available on my IP portfolio as a separate loan with a slightly higher interest rate (ie- 7.82%).

    She proposed a separate loan as once you hit the 85% lend mark apparently they can no longer offer the discont I am currently receiving (ie 7.17%). Yes - I have 7 digit loans with them :eek:

    I definitely want to tap into this extra equity, take out a ML and pour into Navra. However thinking that this additional loan with the extra 5% equity can become messy in the future. I have enough accounts with them as it is. So have asked them to offer the current discount and NOT treat as a separate loan. Will see what she says today ...

    Anyways ... thought I'd say thank you to all who mentioned the 85% lend. I certainly did not know about and WBC certainly didn't either until I spoke to the right person.

    Thought for the day - "Keep seeking and you shall find".