CBA tightening it's lending!!!

The recent sale price is likely to impact the AVM though right?

Might be able to get around it by generating the AVM before the sale is recorded though.....

 

No, you are wrong. My application was not self-employed.

CBA are strict and Im glad to be with ANZ

 

As a large investor...I strongly recommend against the CBA....my recent experiences have been very disappointing. They have become too arrogant and to big...and NO LONGER investor friendly.

Westpac/St George as I have stated preivously are much better. They still have a balance...and are more practical to deal with. They also have the option of taking our 15 years I/O upfront. With the CBA you can still do it but it needs to looked at in 5 year intervals.

Stay away from the CBA...from my perspective...they have stuffed things up by going in too hard with investment loans and their internal controls did not pick this up ...till APRA knocked on their door.

The scary part is the lack of people with solid retail banking experience. Instead they are ex-McKinsey Consultants or Investment Bankers. Have a look...the bloke who runs retail is one ...got very little experience in a retail banks and 2 he does not seem to have year of experience...I think he was only 36 when he was appointed...seriously....
https://www.commbank.com.au/about-us/our-company/management/matt-comyn.html

 

Hi Jamie - have you seen this work before re: using a past AVM before the sale was recorded to redraw equity earlier?

 

I haven't tried.

In theory it could work - because the sales data isn't registered for a while after settlement.

One thing that could stop it occurring is if the assessor takes notice of the recent sale date (it's a requirement in the online application to list it).

Brady might have a better idea - he writes a lot of CBA

Cheers

Jamie

 

A little out of the blue but I'd be very keen to hear your concerns around Goondiwindi?

Broken Hill seems to have a lot of vacancies and stock on the market. Goondiwindi seems like a thriving town, slowly growing, supported by multiple industries, continued infrastructure being built, yields in line with the rest of the country, low vacancie rates, plenty of money in town and only experienced 2 forclosures in the region over the past 10 years.

Do you have any knowledge about the area that I'm missing?

 

To add to this, Goondiwindi has just has the DA approved for a $100 Million Dollar Abattoir on the outskirts of town. This will bring in over 380 jobs (And become the largest employer in town).
In the words of the mayor:

“We believe we are on the cusp of another agricultural growth boom in the economy and the social structure of the region.”

“Every rural town in Australia is searching for a development like this to come their way and we are happy that Fucheng International settled on Goondiwindi as their preferred site.”

“Logistically, Goondiwindi is ideally situated at the junction of five highways and being export abattoirs, the proximity to Wellcamp Airport has obviously played its part.”

Now I may be quick to judge Broken Hill, as I know nothing about it - I certainly am on the Gundy bandwagon though!


Broken Hill seems to have a lot of vacancies and stock on the market. Goondiwindi seems like a thriving town, slowly growing, supported by multiple industries, continued infrastructure being built, yields in line with the rest of the country, low vacancie rates, plenty of money in town and only experienced 2 forclosures in the region over the past 10 years.

Do you have any knowledge about the area that I'm missing?[/QUOTE]