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Found 26 results

  1. What is it? Lenders Mortgage Insurance or LMI is an insurance policy that protects the bank from financial loss if you can’t pay your loan back. LMI cover protects the lender, and you pay the premium. That’s right, you are paying to protect the bank from yourself! When/why is LMI applicable? Normally LMI is required if you request to borrow more than 80% of the property value, as this is deemed riskier to the lender. Why? You’ve put less money in, your repayments will be higher, and they have more to lose. So, they hedge their bets by insuring themselves. If you default on the loan (i.e. don’t/can’t pay), they will chase you for the funds. If that doesn’t work and as a last resort, they will re-possess and sell the house to pay the debt. If the sale of the property isn’t enough to pay the outstanding debt, the lender makes a claim with the insurer to recover the difference. (Important to note – even if the lender gets all the money back from the sale or insurer, this is doesn’t absolve you from your debt – there is sadly no get-out-of-jail-free card.) How much is it? LMI can be very expensive. The cost is determined by a number of factors including the loan to value ratio (i.e. how much you are borrowing compared to the purchase price), the size of the loan you want (costs increase exponentially), if you are a first home buyer or not, and the insurer. The two main insurers in Australia are QBE and Genworth, but some lenders also self-insure. You can get a rough idea on the cost of LMI here, but take it with a grain of salt as it does vary between lenders. How do you pay for it? You can pay it upfront or most lenders will allow you to add this to the home loan amount (i.e. capitalise it). Most people opt to add it to the loan. Why on Earth would you choose to pay LMI? Saving a 20% deposit is very hard, and can be almost impossible for some. LMI enables you to purchase without having to have 20% deposit, so is actually quite a popular option. How to avoid LMI? Save like crazy to have a 20% deposit. If not, there may be other options, including gifted funds from the Bank of Mum and Dad or using a guarantor. For a lucky few LMI waivers sometimes exist with some lenders – normally restricted to those in the medical profession or specific white-collar professions. Normally strict criteria apply. Important fact to remember LMI protects the lender, it does not protect you! As a borrower, this type of insurance does not offer you any protection whatsoever. LMI is often confused with mortgage protection insurance - a type of insurance that protects you if you lose your job/fall ill and can’t meet a repayment. This is a completely different insurance, so note the difference. If you still have any questions regarding LMI, get in touch so I can help.
  2. http://news.yahoo.com/blogs/sideshow/going-vegetarian-poses-own-set-potential-health-risks-185053959.html The long and short of it is that you need a balanced diet that supplies all the essential nutrients your body needs... blindly scarfing down vegetables to prove a point doesn't improve your health any...
  3. Guest

    Job at Risk!! whats my rights?

    Hi all, I am currently in the UK waiting to move my family over to oz in Feb (just waiting for my 457 visa to come through). I have accepted a job offer in writing a couple of months ago, which has been signed with a contract (full time) by both parties. The company are currently sponsoring me for the 457 visa. Here's my problem; I recevied an email today saying that the company are re-structuring and making redundancies, they have not said that i will be affected, but i am majorily stressing out, as we are well progressed with the move and arrangements. Please can you give me some advise on what my rights are should the worst happen and my postion becomes at risk :unsure:
  4. Hi everyone:biggrin: Can anyone tell me about processing timeline for 176 Visa (SS-ACT) seeker from Bangladesh (high risk country)? Does police verification take very long time? Cheers!! Nazmul
  5. dalejaneaustralia

    176 Low / High risk time frames

    http://www.immi.gov.au/about/charters/client-services-charter/visas/8.0.htm Hi, slightly confused on the above link (right at bottom) it talks about the new low / high risk processing times for 176 state sponsorship. If you read through the info I believe it is saying a UK passport cannot be used on the ETA system and therefore will be high risk? Or am I just misinterpreting it? Thanks, be good to how others are reading it!
  6. I have come to the conclusion that I really need to get my eyes checked and maybe need to see my GP as well.:emoticon_doctor_snaI have suffered a very alarming deterioration of sight about a month ago which has not gotten any better and it is becoming a big concern.:frown: I have other symptoms too which may or may not be related to the eye problem.I get chills down my back on a regular basis,my hands and feet feel quite numb at times especially in the morning and when I go to bed. I also get sudden urges:rolleyes: which I cannot seem to control....for example I seem to have the need to sit two inches away from a heater a lot of the time and when getting dressed in the morning I get the urge to don the latest onion layers style!!I make a cup of tea........not to drink but to warm my hands with for gods sake.This is serious!!:wacko: It may be a common illness but what worries me is the thought that it may be some sort of genetic defect,a silent killer that I carry in my Irish blood that aussies don't seem to have a prolem with.How else to explain why they build there houses the way they do???:unsure: You may well wonder what my eyesight has to do with any of this........well........I only rented this place 4 wks ago and for some strange reason[only explained by sudden blindness]I seem to have rented us an Esky to live in rather than a house!!!:eek:See...told ya it was bloomin' serious!!! Any recommended diagnosis or treatment would be welcomed.
  7. Guest

    Big risk.. should I do it?

    Hi guys, Here's my problem and not sure what to do... We are having trouble finding sponsorship so we might go over on a working holiday visa and look for sponsorship while there. If we go out on the WHV, do we take our cat with us and hope we get sponsorship? If we can't we'll have to come back, what would we do with her then? I don't want to put her through it all again sending her back. We can't really leave her here either until we got sponsorship because none of our relatives like cats and wont have her. Even if we can talk someone around, they won't do have her for very long. Our relatives are just saying put her in a cattery to go to another home but she's 7 years old and I've had her since she was a kitten! She's my baby!!:smile: What would you do in this situation? take the risk and hope for the best? or rehome her? Thank you for any advice in advance
  8. Guest

    High and Low risk countries.

    Hey all, I hope someone could give me some advice on this so that i'll be able to sleep properly at night without being too worried. I am originally from a High risk country and now have been a citizen of low riisk country for about 7 years. I was asked for PCs and Meds which were no problem for me getting them, in fact apart from abit of delay with the HR country. Although everything shows as met online now. Since I had to provide them with two PCs .Am i gonna expect alot of delays because of the Internal & external check ups? If so I wonder what sorts of things they would be looking in to? Where can I obtain the information from whether my case has been refered to wihich department for more check ups? Your comments are appreciated Cheers Leed
  9. Hello everyone. This is my first post/thread on this forum. My wife is an Aussie citizen and we applied to relocate to Oz in October 31 2010. We married in October 14 2006. The application is now in its very final stage. My medical results and police certificate were sent to my case worker 2 weeks ago. He (CW) sent me an email that he wanted me to write a statement explaining the charges in my records in the UK. I had 3 offences against me. 2 of them were driving offences. (1) driving without a licence and (2) driving without insurance. Charges were brought against me and in court I was fined 125pounds by the Judge in 2005. Paid and disposed. The third offence is what I'm very worried about. I was very silly. I admitted 100% to the caseworker in my statement though. Offence (3) using a false instrument other than prescription for scheduled drug. In legal terms that means, using a fake ID when required to produce ID. That's what happened. This happened in 2006. I'm very ashamed and remorseful. I need help on this forum on how this may affect my visa application. Am I at risk of being declined? I was not charged for the offence for a reason. A 'caution' was recorded against me. Please help. Any help will do. Thanks
  10. The Pom Queen

    Brisbane Suburbs at Risk

    Albion Auchenflower Bowen Hills Brisbane City Bulimba Chelmer Coorparoo East Brisbane Fairfield Fig Tree Pocket Fortitude Valley Graceville Hemmant Indooroopilly Kangaroo Point Lytton Milton Moggill Murrarie New Farm Newstead Norman Park Oxley Pinkenba Rocklea Sherwood South Brisbane Tennyson Yeronga Yerongpilly Wacol West End Windsor
  11. Guest

    Australia And Risk Taking.

    I answered a thread earlier about the whys and wherefores of emigration to Australia and what risks are involved, but thought I would try and put a bit more detail into it. Whatever we do in life to some extent involves risk taking, from crossing the road, to starting a new job. Unless we actually take MASSIVE risk, i.e. the result could be death etc, the next biggest risk is making the decision to emigrate to the other side of the world, more often than not based on a 'reccie' if we are lucky, books, internet, research and some peoples opinions. But as I said earlier no matter the 'education' we receive about Australia, the move and resulting 'assimilation' can be one of the biggest shocks we ever have. People will say time and again that Australia is not so different, apart from the same language etc, but the country is vastly different, and anyone who thinks otherwise could be in for a huge shock. But my point is this, 'risk takers' for all their faults hopefully are fully aware of the positives and negatives involved. A risk is a risk, no matter what we say, and risk involves being able to go with eyes wide open and realise that for every success there are probably as many failures, and I'm not just speaking in terms of Australia. You will find and again risk takers that never seem to learn their lessons, in other words, when yet again their instincts have let them down, they will at a later date still take what seems to the outside world another risk too far. Resilience, stupidity, foolishness, hopeful, are all facets that make up life's risk takers and I salute them all. Without risk takers life would be fairly humdrum and boring. Not knocking anyone who does not take big risks, far from it, but risk takers are by the very nature often foolhardy, illogical and prone to making decisions that some would look at as rather bloody foolish. But long live risk takers and their adventurous spirit, yes, Australia is a truly massive risk, but good on you for trying, win, lose, just get on with it, at least you will never have to say 'If Only' or 'I Wish'. Cheers Tony.:wink:
  12. Guest

    Is Adelaide worth the risk?

    Hi there, i wonder if you could give some advise to my partner and I. I work for the NHS and i have been accepted for a nursing position in Adelaide. Ive signed the contract and i am now waiting for my English test in about two weeks (wow that looks difficult). The issue is that although ive been to Aussie and Adelaide (spent a year backbacking around it about ten years ago) my partner has never even been on a plane. He is willing to sell up and move over with me and our 4 month baby but is adament that we must take our four dogs (sod the expense). We live in Yorkshire and a lovely beautiful spot where we walk the dogs so Chris is somewhat concerned that Aussie or Adelaide will not live up to this. Also whilst i will have a job immediately Chris wont although they have said that they will def sponsor us for perm residency after four months so Chris could realistrically find getting a job easier then. We also need to sort out childcare etc etc which is abit scary for me. Can anyone offer Chris some objective info about living in Adelaide? We are planning to move over around August next year when the visa's are sorted out. This is a fab opportunity but i feel a little stressed that Chris will be unhappy with it when we finally do arrive and want to come back!:wubclub:
  13. Guest

    Business sponsorship risk

    Hi, Me and my girlfriend have temporary evisitor visas and plan to come to Aus in October and look for work, we really want to stay and build a career in Aus so will be looking for business sponsorship. I am an economic and regeneration consultant with a background in renewable energy projects. My girlfriend is a sales consultant. What is the likelihood of one of us getting business sponsorship within the 3 months we are there? Is it too much of a risk for us to leave our jobs in the UK? Thanks in advance.
  14. hi all , here is some good news for migrants...... , The Australian Industry (Ai) Group/Deloitte survey of more than 400 chief executives found 34.7 per cent of businesses believed there was at least a high risk that a skills shortages would have an adverse effect on operations this year. Skills shortage a risk to economy - WA Business News cheers
  15. How does one find out If he is in high risk country ? I am currently in UNited Arab Emirates ( Dubai ). GSM -175 -CSL Please advice.
  16. Hi All, I was just wondering about something I noticed on Be Update. We applied on 4th January 2009 for a 175 visa online. We are on the CSL, so should hope to be processed soon. I noticed that there are other 175 applicants being processed before us, but they mainly seem to come from hign risk countries. Are there different rules for high and low risk? Also, the latest ASPC update is saying that CSL applications will be processed when the state and employer sponsored applications have been exhausted. Does this means no 175s will be processed, as I imagine new state and employer ones are being submitted all the time? It used to say CSLs would be processed in date order, but it doesn't anymore. Does anyone know what is going on? Sorry to go on, but Im getting quite frustrated....
  17. Guest

    High risk vs Low risk countries

    Is low risk country determined by where you have submitted your application or which passport you hold? For example, if i submit my application from UK (living currently in uk), but I am holding South African passport? Am i considered as a high or low risk applicant? Also, with these new rules in places will high/low risk still matter?
  18. Guest

    why do they run the risk ?

    as you know scott works for 8*** they have drug and alcohol testing quite often there has been 7 people from his yard sent home:shocked: i wont put on here what was found in there system:sad: but scott is in shock he said some of the blokes he knows and has worked with them he asked why do they run the risk to themself and not just that they could couse accidents to other which is scarey why do these people run the risk well they wont have jobs to come back to that is for sure
  19. Hi all, We have had our permanent visas since xmas and have had the house on the market for about 6 weeks now - we've had a bit of interest but no offers as yet. We are hoping to sell if very soon of course but we are trying to play devils advocate about what we will do in 6 months time if its still not sold. We don't want to rent it out (too much hassle with tenants etc) and we can probably afford to pay the mortgage for another 6 months after we leave - but should we risk it?? Just wondered if anyone has done the same - or is thinking of it? Would be pleased to here from anyone who knows anything about the pros and cons of doing this. WE JUST WANT TO GO!!!! :spinny: thanks Julie
  20. Hello everyone, I was at a bit of a loose end last night & in a rather sad & obsessive manner I pulled some info from the beupdate website. Using the 175 visa applications only (as that is the one we have applied for) from September 07 as it seemed a good place to start to April 08 (as that is when we applied) I extracted all the applicants. Then I removed the following applicants as they were not relevant to the info I was trying to deduce. Those with visa granted, those that stated they were from a high risk country, those that had not updated with either a pre aknowledgement date or an acknowledgement date (if they had one or the other I kept them) Both paper & online applications & modl & non modl are included. What I was aiming to get to was how many applications were listed & how many had COs. Quite why I decided I wanted to know this I don't know but the result was quite cheerful. 201 applications listed. 59 have case officers 44 of the 201 are paper based (including us) 8 paper based have case officers. Does anyone find this info useful / interesting? I am happy to update the results once a week & post them in this thread. Please let me know if you would like to see the info. Alternatively, please feel free to send mocking replies on how I should get out more often. Cheers Jaq
  21. hi friends, we are on visa subclass 176(state sponsored) ..we have done our medicals today (14th oct 2008)... as told to be done by our agent...we had applied for the visa on 23rd july 2008....we come under the " high risk countries" category... will this affect anything ???how long cud the proccess take?? is it true that granting of visa's depend upon the que of applications?? have seen loads of people getting thier visa's who even applied in jan, feb, and march 2008...... kindly let me know any details if any one cud help???!!!! thanks krishh
  22. Guest

    would you risk it ?

    Hi Guys, As i've wrote in a previous post my O/H and his friend are going to Oz on a 3 mth hols visa to try and find sponsorship as HGV drivers, the thing is if they do this all the money we have will be taken up by this trip and if it fails i.e they don't find sponsorship we have no other options open to us for moving to Oz so literally everything will be riding on O/H finding work and with the HGV trade (for internationals) being very uncertain in Oz at the moment i really don't know what to do, do we take the risk at the hope he will be able to find work in a regional area or give up the ghost xx
  23. I've heard that burglary is very common in Aus.Is it a major problem?i've been told its a major issue in all the big cities,especially Perth !?!?) I just dont like the thought of leaving your house and not knowing its going to be ok :cry: regards,Lee
  24. Hi All, I work for a national supermarket in security & risk managment and am working towards a degree, hopefully finish before Visa arrives!!! Does anyone know if there are specific licensing requirements and if there are specialist recruitment agencies in Australia for this area of work? I hope to remain in the retail environment. Murph :policeman: