Newbie FHB help please:-)

Discussion in 'Loans & Mortgage Brokers' started by krusty900, 10th Jun, 2019.

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  1. Trainee

    Trainee Well-Known Member

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    The usual you never know what will happen idea. Why not make it flexible up front so that it allows for changes in circumstances?
     
    Trainee, 22nd Jun, 2019
    #21
  2. krusty900

    krusty900 Active Member

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    I guess that’s why(from my research) the Macquarie looked good at moment.
    Just like to have a few options if my broker comes back with completely other stuff:)
     
    krusty900, 22nd Jun, 2019
    #22
  3. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    I do like the macq offset and offset flyer products

    Have some warts as do all lender products, there is no Goldilocks loan, but this comes.close with only amp being a better mix in my view for an active debt recycle capacity if you want to pay the loan off more quickly and build a share portfolio at the same time

    Ta

    Rolf
     
    Rolf Latham, 22nd Jun, 2019
    #23
  4. krusty900

    krusty900 Active Member

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    hope to pay off loan more quickly, but won’t be any debt recycling going on. Super vanilla:)
     
    krusty900, 22nd Jun, 2019
    #24
  5. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Keen to know what active DR might not be for you ?

    Its not suitable for many, but we have found people have one too many assumptions with this simple but not obvious strategy that can save 10s to 100s of thousands over traditional pour post tax cash into home loan.

    I recall you already have some shares so the risk profile side of the investment may not be the issue.

    ta
    rolf
     
    Rolf Latham, 23rd Jun, 2019
    #25
  6. krusty900

    krusty900 Active Member

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    Hi Rolf. The shares are a high risk/high reward scenario still a long way behind at the moment.
    But will know in the next 6 months if that is likely to change or be a complete write off.

    Really only looking at offset options so if a purchase of a house was to occur I could put the money in there easily and have access to it.

    If these shares weren’t in the picture To be honest a vanilla low as possible rate redraw loan would probably suffice.
     
    krusty900, 23rd Jun, 2019
    #26
  7. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    the past investment performance doesnt need to have a bearing to what you invest in moving forward, unless the risk profile is no longer suitable.

    ta
    rolf
     
    Rolf Latham, 23rd Jun, 2019
    #27
  8. krusty900

    krusty900 Active Member

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    Indeed! But risk profile probably won’t be the same(family Etc)
     
    krusty900, 24th Jun, 2019
    #28
  9. krusty900

    krusty900 Active Member

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    Hi. Sorry for yet another question....so the fiancé is pregnant:) very exciting.
    Does this pretty much mean, given the details in my first post, that we try to get a loan before she goes on maternity leave and if that doesn’t happen we will be waiting until she’s back at work full time..? ie. the amount we would borrow now we could service fine when she’s on leave/back part time but I’m not sure we’d be able to borrow it without her working full time.

    Any help/thoughts would be greatly appreciated.
    Cheers
    Krusty
     
    krusty900, 28th Jul, 2019
    #29
  10. Trainee

    Trainee Well-Known Member

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    Can you afford the loan just on your own income if she doesnt go back to work for a while? Also consider cost of childcare etc. your numbers generally look very tight.
     
    Trainee, 28th Jul, 2019
    #30
  11. krusty900

    krusty900 Active Member

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    We figured if we borrowed 350k.
    Then my 90k wage plus her 18 weeks paid leave we would be fine. Then she goes back to work part time. We have family members how will act as child care.
    The simple answer is go talk to a broker;-)
     
    krusty900, 28th Jul, 2019
    #31
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