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About Me

Phil Chun

Mortgage Broker
Phil Chun Home Loans
Gladesville, New South Wales
Experienced mortgage professional for over 15 years in Sydney's inner west and lower north shore

My Activity

Q: Hello, my question is, is it ok to buy land in leppington for $350k for 320 square meter. Is it wise to buy. Or what about Austral area?
A: Hi Mohammed.
We can't really advise you where to buy unfortunately. The decision about where to live is a personal one and something you need to consider based on your employment location, income and personal preferences.
If you are concerned about what you pay the best advice I can give you is to look at recent sales in the area you are considering, speak to real estate agents and do as much research as possible so you can make an informed decision.
I hope this helps.
Q: What is the smartest way for an unmarried couple to go about buying a property together?
A: Hi Jamie. Good question and one that depends on your relationship to a fair degree. There are many though, that would say to err on the side of caution and have a clear legal agreement.
Fortunately the same person that does your conveyancing on the property purchase can assist with this. It could be as simple as a low cost caveat or a more detailed legal agreement depending on your needs.
The good news for you is it is easy and pretty cheap to set up at the start as opposed to potentially very expensive and complex if you dont.
I hope this helps.
Q: When my fixed rate loan period ends - do I just automatically switch back to variable with the same lender without having to bother with paperwork etc?
A: Hi Trevor. Generally your lender will let you know about a month prior to the end of the fixed term. There is usually no new paperwork. This is a good trigger for you to call your lender and ask for a better discount on your variable rate.
If they won't come to the party then it is time to look around for a better deal.