Say he buys a $500,000 house, uses $60,000 as equity for me for my deposit, what LVR can he have on his house with out LMI… can it be only 80% of first mortgage and then LMI

In this case, he would have 80% LVR of $400,000 on the property, minus the equity he has guarantored for…[Read more]

Sorry, i just want to clarify this up richard,

Is it serviceability, or does he need to provide some sort of equity as part of the guarantor. If its simple serviceability that is fine,however…[Read more]

i like the offset account coz they way the equity/cash is there to use for shares/IP deposit, however im glad theres the 2 options

cheers

is there anywhere where you can do a bit of reseach on this with out being a MB, any particular good sites…

sorry for the hijack though guys

these days just a willingness to pay the fees usually. Although there may be a min initial loan size of $150k to qualify, after that the discount depends on your overall borrowings, with the more you borrow the greater the discount.

ah great… nearly all loans would be 150k anyway…

in this case would it…[Read more]

i imagine MB jobs must be so difficult getting the best loan for people…

i sort of imagine that could be the issue, but if you waited 3 months after settlement and refinanced i think that would be a fairly good situation..

however i imagine you would have to ensure that you signed up with a lender who offered minimal exit fees for when you refinance, or if you re finance with the same lender exit fees…[Read more]

Terryw
Discover Home Loans
Terry@discoverhomeloans.com.au
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im guessing this would be apparent in slightly higher interest rates? is there a few banks who do this or…[Read more]

Also if you have a negative geared property what yield would it need to be to become a cash flow + after tax on a 30% tax rate. This might be a fairly difficult question as i guess it would depend on age (therefore depreciation), and strata. Maybe…[Read more]

in the above situation if i then wanted to buy another property worth 200k,

id refinance the 1st loan to 220k (88% LVR) (from 180k with a value of 250k), pay the mortgage insurance on the extra 40k and use the 40k redraw as a 20% deposit for my new 200k property and escape paying LMI on the 2nd…[Read more]

is there like a sliding scale for mortgage insurance or is it like a set 5% of the loan or something?? would it be a better to continue to re finance on loan if it already has LMI to pay additional LMI to recieve more money to say…[Read more]

im now looking for a similar book as well to deal with benefits of companys and a bit of a step by step guide of setting them up, things which are good and things u need to be wary of…

all in all you can…[Read more]

would it be an additional mortgage or charge against the property to provide the LOC, and im sorta guessing its done so you dont have to keep refinancing your loans to get more money? Also with IP would you fine you would very rarely re finance your property completly? i know its a 7 year…[Read more]

so basically if 95% is a loan, and stamp duty and other costs are put into a LOC, basically all you need is your deposit (but if u had a large enough LOC you could take it…[Read more]

sorry what does loc stand for? and what do you mean by draw down from this?

thanks richard

as a first home buyer, how many will actually have this 20% in there super, i read something last week, most baby boomers only have 60-80k in super and unless you have salary sacrificed then you wouldnt really have enough…

PPOR well what happens if you move out of your house and rent it out, what would happen…[Read more]

i imagine there could be many many units on trusts…

also what do you all thing of like the australian property investor magazine or any property magazine, are they worth while buying ( and more importantly reading) or would you learn more from sitting and reading a book instead once a…[Read more]

there are some definante experts in this area…

thanks for the tips though

so are these things cons or are they worthwhile??

would a seminar cover the same as say a few hours direct legal advice or its just more background and understanding u could get from reading a book???

coz it could become an expensive exercise to set up a trust if u need 5 accountant referalls, id imagine they would charge atleast $150 an hour

i very much agree to this, i am actually a unversity undergrad studying accounting in my final 6 months, nothing we have done have covered trusts (except a tiny bit on…[Read more]

thanks

cheers

it…[Read more]

would that just be so an accountant can see if its totally suitable for your situation?

cheers guys

Terry and Richard really seem the back bone of this and have a heap…[Read more]

so when you mean many will fail, is that because poeple are taking the tax consessions to far? or because its seen as a general envasion of tax or a tax avoidance scheme?

so for someone using a trust to grow say a large portfolio, wouldnt the units sort of never be bought back, or would it basically get to…[Read more]

would that quoted rate be like a fixed or variable rate?? and what would be the comaprisions to a normal simple structured rate?? So im pretty new to this so just trying to beef up my knowledge…

Thanks

Also ive read everywhere that there needs to be a fixed distrobution from the trust to the owner, but no one has really…[Read more]