Vic Wasteland Thread

[Birds]

Lucky I live in a relatively poor socioeconomic area where no one with a good job would possibly rent/buy

Should be safe given they don't even move black label

[Leroy Peterson]

speaking of low socioeconomic areas... why wants a skyline ashtray?

http://page2.auctions.yahoo.co.jp/jp/auction/b150055796

[joeyjoejoejuniorshabadoo]

Refinancing a 400k loan up to 80% LVR (without incurring LMI)

400k * 80% = 320k

320 - 250k = $70k equity available (not $150k)

Interest only 5yrs repayment: $1,174/month @ 4.4%

$300/wk rental income = $15,600 income ($1,200/month)

Property near positive geared - excluding rates, body corp, maint, fees etc

800k house @ LVR of 90% if willing to pay LMI around $700k loan (estimate stamp duty applied as well)

$70k equity + $30-40k cash savings will fill the shortfall between Loan vs. House purchase

$700k loan @ 4.4% P&I = $3,500/month repayment

$150k incl Super income is around $8000/month income (after tax)

Bank usually says Single person living expense is around $1100/month (not sure what a couples monthly spend would be - lets say $2k)

$8000 - $2000 - $3500 = $2500/month left over

Don't see any issues with their borrowing vs. income. Could have missed some points, speak to your local mortgage broker on a more realistic assessment on your borrowing.

Pretty close...

We don't lend on the ability to make repayments at current rates lol

No one wants GFC 2

[Rekin]

Pretty close...

We don't lend on the ability to make repayments at current rates lol

No one wants GFC 2

true; the scenario still has a $2.5k monthly buffer so should be safe enough to lend.

[alr33x]

I doubt 2k living expenses I mean you'd likely have two car repayments two rates, insurance, bills etc seems low to me

[HEKT1K]

They wish they had that condo paid for, no car payment

[Birds]

Pretty close...

We don't lend on the ability to make repayments at current rates lol

No one wants GFC 2

No one wants rape either but girls still dress provocatively

That's right I went there

[joeyjoejoejuniorshabadoo]

true; the scenario still has a $2.5k monthly buffer so should be safe enough to lend.

You'd be surprised how quickly a surplus like they disappears when we assess lending, especially consumer mortgages where we are heavily regulated.

I doubt 2k living expenses I mean you'd likely have two car repayments two rates, insurance, bills etc seems low to me

HEM/HPI figures (which is what he was referencing) do not include other debts. They are over and above.

[Rekin]

[Birds]

Green Label available online at Dans now

Just bought 3 lol

[HEKT1K]

Click and collect not available at my local Dan's

Balls

[Odium]

ImageUploadedBySAU Community1435052331.223454.jpg

http://www.sauvic.com.au

[Rekin]

Click and collect not available at my local Dan's

Balls

neither.

Someone buy me a bottle so I can pick up from your address. thanks

[HEKT1K]

Might go CBD store after work tomorrow - want me to grab you one Pat?

[Rekin]

Might go CBD store after work tomorrow - want me to grab you one Pat?

yes pls.

[Birds]

Just get delivery? It's only $7. No store will have click and collect cause hardly any will have their allotment yet.

Sold out now...they must be bleeding them to the online store. Will prolly be available again soon.

[Rekin]

http://www.sauvic.com.au

lol 8yr old website. Old school

[HEKT1K]

yes pls.

Too easy brah

Should have gone with delivery Birds, annoying having to go to the post office etc though

Can't have things delivered to my work unfortunately

[alr33x]

Can't have things delivered to my work unfortunately

What why? That's the perks of having an office! I hate a boot & spoiler delivered to my work lol

[Birds]

That does suck

Suburban office ftw, I even have a warehouse I can get tyres delivered to and shit too big for reception