Vic Wasteland Thread

[Rekin]

actually for you property people,

what the deal with a loan to buy property? do you look at home loan rates? do they want 10 or 20% deposit?

any thing else should know?

Banks want 20% but s mortgage broker can usually secure s loan for 5-10% ( up to 95 LVR )

[joeyjoejoejuniorshabadoo]

actually for you property people,

what the deal with a loan to buy property? do you look at home loan rates? do they want 10 or 20% deposit?

any thing else should know?

Want 20% deposit in order to get best possible rate from a major lender.

Can go less however you will likely have to purchase insurance for the bank - at your cost (LMI)

Major banks want to see a pattern of saving for the deposit

that's all really

I don't really understand the "do you look at rates" part of that... of course you do.

* protip.... the ONLY thing that matters is the comparison rate (ignore the actual rate)

[emts]

I don't really understand the "do you look at rates" part of that... of course you do.

Was not sure if properly fell under home loan rates or a secured personal loan rate.

as it land not a "home"

was not planning on buying till next year anyhow, so should have a nice easy 25-30 % deposit.

Sweet.

[Birds]

Wouldn't mind owning rural land just so my great great great great ungrateful grand kids have something to sell to a property developer

[emts]

we are planning on moving up there in next couple years to build.

prob not that big tho 2-5 Acres would be nice.

if wanted more would have kept the 100 acres dad offloaded last year as it was good land.

[UNR33L]

Build a skid pan and bring us wastelanders over

[emts]

one of my mates dad did exactly that, got sick of the burn outs on the road in front of the farm, built a 30x30 meter skid pan for him to use as a 21st present, when son moved out, turned into a feed lot for the cows.

but the land above was over 800 meter long...drag strip or GTFO

[UNR33L]

get some insurance and start holding events!

[emts]

that reeks of effort.

plus every local would break in on a Friday night to do passes!

[Odium]

Retractable spike strips

[joeyjoejoejuniorshabadoo]

On windows 7 at work now... just hooked myself up with 3 screens...

it's like the god damn Nebuchadnezzar up in here

[Leroy Peterson]

all i see is blonde... redhead...

[Birds]

Is there a movie where joe pantoliano isn't a scumbag

Bit like john leguizamo

[alr33x]

actually for you property people,

what the deal with a loan to buy property? do you look at home loan rates? do they want 10 or 20% deposit?

any thing else should know?

20% avoids lenders mortgage insurance but some lenders will do 5% at the moment

Not sure if it's different for farms like I know units below are certain size require more deposit

Ham might know more

[emts]

not a farm...just a big house block

[joeyjoejoejuniorshabadoo]

Rural will attract further shading... think 70% not 80%

[emts]

???

[joeyjoejoejuniorshabadoo]

Bank's shade the value of a security to create "bank value"

Industry standard shading is 20% hence the usual 80% lend

Rural property is often shaded at 30% hence requiring a 70% maximum lend without the bank looking for insurance.

Banks do not like lending above 100% of "Bank Value" hence places like UBank not looking at anything above an 80% LVR

[Birds]

Can you use anything as collateral besides equity in another property?

[UNR33L]

On windows 7 at work now... just hooked myself up with 3 screens...

it's like the god damn Nebuchadnezzar up in here

Only just got windows 7?

I run 3 screens at work as well gives me a headache sometimes lol