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@SK-gi8dj3 жыл бұрын
These videos are so comforting...I am a very lucky individual with a huge deposit due to inheritance. I comfortably have 20% for almost anything I wish to buy, yet even for me I keep hitting hurdles including limits on loan size due to my high but single income...it’s hard missing out again and again but as time goes on I watch all these videos and keep learning and building my knowledge...I will get there eventually. Thanks guys
@MortgageBrokerAustralia3 жыл бұрын
Thanks for watching S K
@lunalou8888 Жыл бұрын
I had shit wage as a single person and bought a house. My mortgage broker must of worked wonders thank God
@sagiefroggie4 жыл бұрын
@7:35 Value of the property $400k minus $40k rebate should be $360 and not $460k. It's just a simple mistake, but love your videos guys. I am a big fan of your posts.
@MortgageBrokerAustralia4 жыл бұрын
Thank you! Haha yea I noticed that too :)
@chloeV024 жыл бұрын
Thanks for the great video!
@MortgageBrokerAustralia4 жыл бұрын
Glad you liked it!
@randycortez5738 Жыл бұрын
How come banks dont tell their customers the valuation report?
@MortgageBrokerAustralia Жыл бұрын
It depends on the bank's policy and the type of loan. Some banks may provide the valuation report to the customer, while others may not. The reason for this could be that banks order the valuation reports for the purpose of assessing the collateral for the loan, the report is for internal use and the bank's purpose. In general, the bank is primarily concerned with the value of the property and whether it is sufficient to secure the loan. Banks may also have a policy of not sharing the report with the customer to protect the bank's proprietary valuation methodology or due to confidentiality agreement with the valuer. It's worth noting that customers can ask for a copy of the report from their bank. If the bank does not provide the report, the customer can still ask for the property's estimated value and some explanations of how the valuer came to that conclusion. It's always a good idea to consult with a mortgage broker or bank to understand their policy regarding the valuation report and any other important document.
@bobtailsquid4 жыл бұрын
Looking at buying in rural Victoria the house will be less than $80,000 so I’m guessing I won’t get much of a first home buyer grant. I’ll have over a 50% deposit.
@MortgageBrokerAustralia4 жыл бұрын
Itd be worth asking the victorian office of state revenue and see if you could qualify!
@WinstonPatts4 жыл бұрын
Can you please make a video about the possible increase in first home owners grant, from 10k to 50k. Thank you
@MortgageBrokerAustralia4 жыл бұрын
At the moment it's speculation / a proposal, as soon as we have the details we'll be looking to put a video about this :)
@dusk12345678903 жыл бұрын
But what happens if you buy a home for $350,000 and You put in $50,000 deposit. But the evaluation comes at $320,000 for example?
@MortgageBrokerAustralia3 жыл бұрын
The bank will lend off the lower value - So $320k and then you need to settle based on $350k so you'll be $30k short.
@dusk12345678903 жыл бұрын
@@MortgageBrokerAustralia sorry I don’t understand. why would I be 30k short? I’d still only owe the bank 300k? That mean I owe the bank 80k now?
@MortgageBrokerAustralia3 жыл бұрын
@@dusk1234567890 The bank would only lend based on $320,000 - but you are paying $350,000 for the home. So the bank will lend say 90% on $320,000 = $288,000 loan - you need to pay $350,000 = $62,000 in deposit to be paid. Plus stamp duty, other costs etc etc depending on your state
@dusk12345678903 жыл бұрын
@@MortgageBrokerAustralia God that is scary. I’m planning on buying house and land packing for $322k. And putting around 35k.
@garysingh97463 жыл бұрын
@@MortgageBrokerAustralia does subject to finance clause covers bad valuations ? i am in Melbourne..thanks