http://www.duckling.com.au

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Minimum deposit for a normal type of loan is 5%. This must be genuinely saved over 6 months.

Stop paying the extra on your bad debts, pay the min and start saving that deposit.

You can decide whether to pay it off or not whe you are ready to buy.

Just an idea!

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228…[Read more]

Well if you are increasing your debt without increasing your overall net worth then you really need to have rising property values to justify such a strategy.

If you are paying interest on interest then I don’t believe that the tax office allows you to claim the second lot of interest as a deduction.

I am no taxation expert – perhaps someone…[Read more]

Not bad in a steeply rising market – what happens if the market goes sideways for a few years?

I think there is also issues with the tax deductibility of capitalised interest…

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any…[Read more]

ING Direct is popular – is at call too.

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Comission a Quantity Surveyor to do a report for you.

http://www.depreciator.com.au

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Have you ever heard the question:

How does one man eat an elephant?

One bite at a time.

At your position looking ahead it seems quite daunting and unachievable. Set yourself a goal to buy your first property. It wont be as hard as it seems. Then armed with your new knowledge, experience and confidence you can buy your second. Before you know…[Read more]

I am not too sure.

I can find out tomorrow but I strongly suspect you will be two different entities.

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

You should have little trouble getting a lender to use your company with you as guarantor – using your borrowing capacity.

I suggest you find a broker experienced in this area.

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any…[Read more]

Can you tell us more here?

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

That isn’t logical. Your debt is a fixed amount. If you pay off your home loan and leave the Ips as IO then the total debt doesn’t change – just the proportions.

Pay off the non deductible debt first.

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you…[Read more]

Commissions we get are the same whether the loans are xcoll or not.

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Do some reading on the FHOG – there is some info on my website and links to your state’s websites. Do a search here as well. Plenty of posts already.

Basically you can use the FHOG for a property provided you ocupy it within the first 12 months and occupy it for a period of more than 6 months.

Your amount you can spend is limited only by your…[Read more]

That was my point Terry – 95% lend pus LMI lent as well. That actualy reduces the LMI as the deposit is slightly higher.

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a…[Read more]

Are you absolutely sure that you need vendor finance?

Speak to a cluey broker and make sure you have exhausted all other forms of finance first and you may save yourself considerably!

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any…[Read more]

Use a broker as many lenders are different when it comes to rural postcodes.

Save you the time of calling them all.

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a…[Read more]

That is certainly a popular strategy and there are a number of ways to structure finance to suit. I wouldn’t give any more advice without knowing you and your situation better.

All the best,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any…[Read more]

ANZ Breakfree is a fine product.

They will also allow you to capitalise the LMI which means your deposit will go further – therefore less LMI. Hope this makes sense [blink]

You will also be able to use this to grow your portfolio without additional fees.

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may…[Read more]

Tey wont accept it in the case of a Fulldoc unless you have full leases in place.

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

If settlement is simultaneous then youmay not require any finance.

This is more a question for your solicitor.

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a…[Read more]