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-   -   Cornerstone Mortgage services (https://www.pprune.org/fragrant-harbour/345329-cornerstone-mortgage-services.html)

Bograt 1st October 2008 08:05

Cornerstone Mortgage services
 
Does anyone have any first-hand experience with these guys?

Cornerstone

Thanks

christep 1st October 2008 09:42

No, but simply from this:

Q. Why is property a good investment?
Past history will show that property investment has produced consistent returns over time. Working on the basis of an 80% mortgage, the investor contributes 20% of the cost of the property to get a return on the full investment.

Example: A property costs £100k, investor puts in £20k, in a year the property appreciates by 10% giving a return on investment of 50%, or £10k.
from the FAQ on their website I wouldn't touch them with a bargepole. (Hint: what about the cost of the 80K mortgage, and all the setup costs?)

There is also no info on the site about who exactly the company is: no address, no company name, no details of any licences to provide investment advice and so on. Just a Hong Kong phone number.

This town is over-full of complete shysters trying to sell you this and that. I see no reason to believe these aren't one of them.

FlexibleResponse 1st October 2008 13:02

If you need to borrow money, go to a real bank.

If you are an Ozzie as I suspect from your handle, the four major Australian Banks have representative offices in Hong Kong. You can borrow either HK or AU dollars from them.

If you have a job with CX they will fall at your feet to give you a loan.

2 cents 1st October 2008 15:20

Flex,

Could we get an update on your sample investment portfolio?

Buttie Box 1st October 2008 16:15

"Bograt,"..."Aussie,"...nope, I'm not getting it...

Give Godwin Lee at the National Australia Bank a ring. The number's normally in Pravda, sorry, I meant Crews News.

BB

Bograt 2nd October 2008 05:28

Thanks for the replies. :ok:

FlexibleResponse 11th October 2008 11:47


Flex,

Could we get an update on your sample investment portfolio?
See thread on, "Independent Financial Adviser".

Edited to avoid thread hijack.

Bograt 12th October 2008 15:08

Thanks Flex, just read all of that thread.

Investing I'm happy with and actively doing, but was interested in any knowledge of mortgage brokers in HKG.

Not anymore - going to sit tight for a while and watch what happens. Don't want to take on much debt at the moment.:ok:


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