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Hi Guys!!

Discussion in 'Introductions' started by vip_leo, 14th Jul, 2016.

  1. vip_leo

    vip_leo Member

    Joined:
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    Hello to Everyone

    Just found this forum on Google while looking for some tips and doing aftermath of buying 1st IP.
    I went through few threads and I feel like an alien to this Property Investment world :(
    Had a Information overload and now kinda frozen to any ideas :) :)

    Also, read about avoiding 'cross-collateralisation' but unknowingly I've done it already in the process of buying 1st IP. Now wondering is there any way to fix it with current lender ?? or should I just re-finance. It has been only 2 months though :(

    anyway, I'll be keep checking this forum from now on and looking forward to gain some outstanding knowledge & tips from all of you Experts.....

    Cheers!!!
    VP
     
  2. Leo2413

    Leo2413 Well-Known Member Premium Member

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    My important twin has arrived. Welcome to the forum.
     
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  3. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    Welcome VP.

    You can uncross with your current lender, it should not be an issue at all - just a bunch of new paperwork and possibly some fees.
    Did you pay LMI on the IP purchase?

    It may actually work out cheaper to move lenders, with some of the refinance deals being offered at the moment. It will depend which lender and package you're on.
     
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Hiya

    Welcome

    might be an easy fix........... whats there any LMI involved ??

    ta
    rolf
     
  5. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Welcome aboard alien :)

    Cross coll doesn't have to be the end of the world - can usually be fixed quite easily. Especially if your portfolio LVR is sub 80% and no loans are fixed.

    Cheers

    Jamie
     
  6. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Welcome @vip_leo, @Lil Skater will be running a meetup on the last Thursday of this month, I reckon try to get there if you have a free night that evening. :) Look in the meetups section for details.
     
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  7. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    I find it amazing that you both posted this at 4.36am. Granted Jess is all the way over the other side of the country but it's an odd time to snap.
     
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  8. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Its called unwavering commitment :D My broker routinely meets clients until midnight on most weeks and answers calls 24/7, literally 24/7... I have called her a few times past 2am, she answers with a smile on her face.
     
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  9. Lil Skater

    Lil Skater Well-Known Member Business Member

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    And here's me being an old lady and climbing into bed before 10 most nights :oops:

    Thanks for the little plug @Gockie - there's a link to the meet up in my signature for all that are interested :)
     
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  10. spludgey

    spludgey Well-Known Member

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    I knew you were a VIP all along Leo! ;)
     
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  11. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Shhh...gotta keep it under raps for a little longer otherwise I wont be able to get all the help I need:oops: :D
     
  12. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    Haha - it's called insomnia - it was 2.36am over here! I hate laying awake in bed - much better off doing something productive.
     
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  13. vip_leo

    vip_leo Member

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    Thank You :)
     
  14. vip_leo

    vip_leo Member

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    No, Luckily there's no LMI involved with my either of properties....
     
  15. ellejay

    ellejay Well-Known Member

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    Too much information :D
     
    Last edited: 25th Jul, 2016
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  16. Leo2413

    Leo2413 Well-Known Member Premium Member

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    You don't know the half of it ...:p
     
  17. ellejay

    ellejay Well-Known Member

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    Let's keep it that way :D
     
  18. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Well boo hoo to you too! :p
     
  19. ellejay

    ellejay Well-Known Member

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    Okay, I'm jealous. Does she have a twin brother? Apart from the heroic efforts of my very lovely, and awesome broker Dustin at nectar mortgages Adelaide I have to wait days for a response from other (overseas) brokers. No smiles either.
     
  20. Leo2413

    Leo2413 Well-Known Member Premium Member

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    No twins I'm afraid but I wouldn't be happy if my broker made me wait days for a response...at least same day response I expect..Your pretty patient :)