Next Lender?

Discussion in 'Loans & Mortgage Brokers' started by applebyte, 20th Jul, 2015.

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  1. Tattler

    Tattler Well-Known Member

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    Is there any special no LMI deals for Engineers Australia members?
     
    Tattler, 26th Jul, 2015
    #21
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Yes - only if you are a chartered member though.
     
    Terry_w, 26th Jul, 2015
    #22
  3. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    90% no LMI and if you own practice then you will are able to borrow against your book.
     
    Shahin_Afarin, 26th Jul, 2015
    #23
  4. Tattler

    Tattler Well-Known Member

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    Interesting. I never knew that there is actually a benefit for being a Chartered Engineer ..... I always thought it was pretty useless.

    My wife is a full Member of CPA, would we get 90% no LMI even though the loan are joint names with me?
     
    Tattler, 27th Jul, 2015
    #24
  5. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    As long as a CPA is on the loan you should be right - and income is $150k pa or more. Includes rents too.
     
    Terry_w, 27th Jul, 2015
    #25
  6. Tattler

    Tattler Well-Known Member

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    The $150Kpa qualification is combined income? Or just the CPA member?
     
    Tattler, 27th Jul, 2015
    #26
  7. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    The CPA
     
    Terry_w, 27th Jul, 2015
    #27
  8. wombat777

    wombat777 Well-Known Member

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    Yes. Member of Engineers Australia, however also have the Chartered Qualification from that organisation.
     
    wombat777, 27th Jul, 2015
    #28
  9. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Need to be chartered member and on an income of $150k plus (which can include rent)
     
    Terry_w, 27th Jul, 2015
    #29
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  10. jafeica

    jafeica Well-Known Member

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    How about AIQS members?
     
    jafeica, 27th Jul, 2015
    #30
  11. wombat777

    wombat777 Well-Known Member

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    @kamchatsky - the qualification is required at my work for some roles. Primarily Engineering Managers and those with Authorisation / Technical Approval responsibilities.
     
    wombat777, 27th Jul, 2015
    #31
  12. Samten

    Samten Well-Known Member

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    @wombat777 like your location very creative is that lat/long the office or are you a shopaholic:)
     
    Samten, 27th Jul, 2015
    #32
  13. wombat777

    wombat777 Well-Known Member

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    Have worked on navigation-related systems for 20 years.

    That is the approximate location of where I live with an error tolerance of a km or two.
     
    wombat777, 27th Jul, 2015
    #33
  14. Samten

    Samten Well-Known Member

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    Cool
     
    Samten, 27th Jul, 2015
    #34
  15. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Yes = Australian Institute of Quantity Surveyors (AIQS)
     
    Terry_w, 27th Jul, 2015
    #35
  16. jafeica

    jafeica Well-Known Member

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    Good to know. Are banks still doing high (88%+), no LMI interest only investment loans to AIQS members then?
     
    jafeica, 27th Jul, 2015
    #36
  17. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    90% no LMI - Westpac and St George are the only guys that will touch do it. St George are much better though.
     
    Shahin_Afarin, 27th Jul, 2015
    #37
  18. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Yes
     
    Terry_w, 27th Jul, 2015
    #38
  19. jafeica

    jafeica Well-Known Member

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    jafeica, 27th Jul, 2015
    #39
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