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Oh, just realised you're in Tassie. Speak to some friends of yours who own property and they should be able to assist.

I can recommend you one if you like. He got us the valuation we needed after going to 6 (!) different banks.

I used to live in an apartment and was chairman of the board for two years - happy to help where I can. What amenities does the apartment have? You have to think, body corp fees help maintain the building. Anything with a pool, tennis courts, gym etc will up that price. Go to a broker, they...

is there anything you want to buy though? A nice watch? A new car? Renovations?

Discipline.

Holy s**t! So you're essentially loaded lol?

What do you do for work?

It depends how much you're putting down on your house, the interest rate etc. All the other stuff associated with a house isn't cheap, established or new. Landscaping, concreting, furniture etc etc I would leave at least $20-30k in there if you're by yourself.

Ah, probably not in a position to do that now with the land settling and construction due to begin in next 6-8 weeks. For a period we were a few grand ahead on our repayments but we moved some money around for the build etc. We have a joint account (for groceries, direct debits etc), an...

We don't have any children, but we've just settled on our second property (land, to build), so that figure will go down, but we will still be able to bank a fair bit until we settle. Not sure exactly what a line of credit is, but we are very sensible with our savings and make sure we have money.

Yeah, we are very sensible. We save $5000 a month, we don't live anywhere near as much as we could/should, but we are all about the longer term goals.

We're on about $170k between us. Not mouth watering, but it's good IMO.

We are pretty stringent with our money. We don't get Uber Eats etc, the only subs we have to apps etc are ones we use. $250k-$300k is pretty good. Very comfortable, even with two kids.

Wow, that's heaps, but a great contingency. I am assuming you both have very good incomes?

Talk to your friends and see if anyone can recommend their broker and have a chat with them. If you have about $200k in the bank, I'd be depositing at least $175k onto the house. Your loan repayments will be small, and if you're making more than the required payment you could then redraw if you...

120k deposit 100%. Your loan will be smaller which means your repayments will be too.

I would say at least a few grand.

Really? Our rate dropped and our payments did accordingly.

Yeah, refinancing is a pain, especially with valuations etc. Our construction loan is at 2.79% atm, when we get pre approval it was 3.32%, so huge drop in that already.

Just got a letter from Bank of Melbourne today telling us our loan has dropped to 3.02%. Winning.

OK.

I never said it was going to happen.

Not positive, but on our "introductory offer" with CBA three years ago, our figure was 3.92%. When the loan was due to end they told us upon expiry our interest rate would have gone up to 5.07% or something. Safe to say we financed through a different lender. And also, refinancing is a pain in...

Because probably after the two years is up - and who knows where interest rates will be then - the rate will probably be at 5% or something stupid when the deal expires.

With your incomes vs mortgage, why don't you put extra on your mortgage down? 250k is huge.

Yeah, it's a joke. We refinanced, CBA would do nothing for us despite me having an account with them since birth. We have since moved our home loan away, and when we get a loan for the house and land, we will be classified as a new customer, and can probably get an interest rate under 3%...

Speak to a broker.

Our fin advisor is great. You should definitely speak to a broker as well. But someone above nailed it too, don't borrow for the sake of it just because you can. Get further ahead on your mortgage, build on your equity. Last thing you want to do is excessive debt and then your kids suffer etc.

I would never borrow the maximum. Do you have a financial adviser? Speak to them, and particularly your mortgage broker. They will have good advice to lend. If you're going to borrow that much, why don't you build a duplex?

We are in the process of refinancing. Our introductory two year loan offer expires this week. We needed to get our property valued at a certain figure to avoid LMI. First two valuations came back at $45k and $35k below, and then another at $25k below. Our broker rolled the dice again and we...