I wouldn't mind just going back into care taker and having no Govt. in place Seemed to work fine for a couple of months.CheersJamie

Hi audioWelcome to the forum.Yes, what you're wanting to achieve is possbile.However, it needs to be structured carefully and correctly from the start. I really can't emphasise that strongly enough.Without any further info (which I wouldn't expect you to post on a public forum) I can't offer too much more advice but generally speaking, the answer…[Read more]

Firstly, congrats – that's fantastic news!As Richard said above, technically you have to disclose this info to the lender.If you don't, just make sure that you've done your own sums to insure that you'll still be able to afford it once the bub comes along. You really don't want to be worrying about cash during these times.All the best…

Paullie wrote:
JamieWhere are the details for 5.8% at ANZ?

Hi Paulie

It’s the 2 year fixed rate under their break free package. I wouldn’t fix purely for a low rate – there’s other factors to consider. But if you have decided that fixed is for you, it’s a pretty sharp rate (at the moment).

No harm in asking your current lender to match. Ask…[Read more]

No worries – if you need a hand with the upfront val just shoot me an email.CheersJamie

QM wrote:
Is there a guideline I can follow except for the "market" valuation (i.e. what has been sold within the area?) I am not interested in the property unless the asking price meets bank valuation.

You can opt to use a lender that allows for valuations to be carried out before an application has been submitted. There are a few of them that…[Read more]

Hi WadeNo real point in having an offset set-up against an IP when you have a PPOR.A simple IO loan should do the trick. Keep the offset against your PPOR.CheersJamie

Excellent, you're in good hands. All the best with the move.CheersJamie

For anyone reading this and considering the ANZ 5.8% fixed rate – just letting you know that the offer expires at the end of this month so get your applications in before this date if you've decided this is the way to go.CheersJamie

Exactly, if that new house is a PPOR than that portion of the loan won’t be deductible. If the next house is an IP then it will be.

Cheers

Jamie

Hi TonyThat's right – can only claim if all parties haven't recieved it previously.CheersJamie

mi65ni wrote:
I can see myself in a similar situation, but with time on my hand. I have not bought my new PPOR yet.I have heard that i can re-finance my current PPOR loan now to a higher LVR and then when it becomes an IP the larger interest amount will be claimable. Is this correct?CheersNathan

Hi Nathan

No – it doesn’t work like…[Read more]

eilatan28 wrote:
I don't think the borrowed funds would be tax deductible though ??? Isnt the new purchase going to be your PPOR ??

Correct – I thought Karen was buying a new IP but your right, it’s a new PPOR.

Cheers

Jamie

Hi Karen

Congrats on the next purchase.

It looks like tapping into the equity in your PPOR is the only way you’re going to get this done as the $17k isn’t enough to cover the deposit and costs.

Best to set up a second loan with CUA so you can distinguish this IP debt from your PPOR debt.

At least the borrowed funds will be tax deductible…[Read more]

Hi papaungWelcome to the forum.When you originally accessed equity, did you set up a second loan or did you simply extend the original loan to a higher limit?If you set up a second loan as the deposit for your new PPOR, that loan won't be deductible but the original loan will be.Basically, you should be able to claim whatever the loan amount was…[Read more]

Hi Roadhog

Welcome to the forum.

The first question I would ask is “do you own any investment properties”?

Ideally, you want to surround yourself with professionals that walk the talk.

Cheers

Jamie

Hi WadeCGT will apply to the duration it's an IP. Therefore, it's best to get a valuation carried on the property once it becomes an IP so you have a reference point down the track when it comes to working out how much CGT is payable.CheersJamie

tiger_ra wrote:
Then after the auction last saturday (unit was passed in), the agent told be she "just died" now, "she wanted to see the auction through" and advised me it was a good time to make an offer as they were "at a moment of weekness"……

What a scumbag REA. He should be working in the vendors best interest, not trying to take ad…[Read more]

A 90 day settlement isn't usually going to present any dramas from the banks perspective. I'd be more focused on the early access part of things. You should seek advice from your legal person in regards to getting something written into the contract. CheersJamie

No point having/paying for those offset accounts against the IPs when there’s a PPOR in the mix.

Cheers

Jamie