[abundantone10922Participant@abundantone10922Join Date: 2003Post Count: 10]

April 27, 2015 - 11:28 am

I think the loan can be fixed for a period of 5 years, however I believe that a maximum of 12 (or 13) months interest in advance can be paid at a time. We currently have a 3 year fixed loan with St George and have been paying IIA for the past 2 years.

[abundantone10922Participant@abundantone10922Join Date: 2003Post Count: 10]

April 24, 2015 - 6:47 am

Thanks guys.

[abundantone10922Participant@abundantone10922Join Date: 2003Post Count: 10]

April 23, 2015 - 9:03 am

Thanks so much Richard. St George can offer 4.49% fixed for 5 years….and if IIA is paid, there is an additional .2% discount bringing it to 4.29%. Anyone you know doing better than this on IIA? Is there something else the lenders call IIA? I find it very difficult to find the product….Obviously not looking in the right spot….or using the right people. :-)

[abundantone10922Participant@abundantone10922Join Date: 2003Post Count: 10]

April 23, 2015 - 7:05 am

Not sure how land tax is calculated when property is in joint names petehe but every individual receives their own land tax threshold, so ultimately if the properties were in individual names, you would receive 2 x land tax thresholds. Also, an SMSF receives another land tax threshold….and if you were to start up subsequent SMSF’s, you receive additional thresholds. Hope that’s helped.

[abundantone10922Participant@abundantone10922Join Date: 2003Post Count: 10]

April 23, 2015 - 7:00 am

Thanks Jo_WA.

We received the invoice today and came in at $440, so $400ish must be the going rate.

[abundantone10922Participant@abundantone10922Join Date: 2003Post Count: 10]

August 25, 2014 - 12:58 pm

Thanks Richard and Jamie. Much appreciated. As it’s a LOC, legally he would be allowed to on-lend it, wouldn’t he? Don’t want to break any rules. :-) My understanding is that he can do what he likes with it. The only risk is if the bank called in the loan (LOC in this instance), but I imagine this would be an unlikely event. And yes, the purpose would be for investment (property).