If they need to use the property as s ecurity then they all need to be on the loan.

The main problem is they will all be individually responsible for the whole debt.

Better if they can all raise the fifth share on other properties and pay cash for the JV.

Cheers,

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

Comments may…[Read more]

Chan$,

If you have never lived in them and didn’t own property before Jul 2000 then you are eligible for the FHOG.

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]

I am doing it. I have five students and they are wonderful young people. The place is always spotless.

I was selective and chose my ones well.

If you have any specific questions please post them or email me.

Cheers,

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

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

If you have an ABN for two years plus then you can self certify your income as being self employed. Generally the LVR is under 80%.

You can have a “no questions asked” NODOC loan if the LVR is 65% or less.

These are usually higher interest rates but some start as low as 6.85%.

Cheers,

Simon Macks
Mortgage…[Read more]

I generally prefer the second option.

Depends on the exact situation though.

Regards,

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.

There is no need to change the loan if the property is to be rented.

If your loan is expensive or otherwise unsuitable then you may wish to consider it but you will need to take into account the fees involved before you can be certain it is worth it.

Cheers,

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

Comments may not be…[Read more]

SIS,

claim percentage of property as 25% used for business purposes
4. use 6 year rule and avoid capital gains taxs

I don’t think you get the 6 year exemption if you claim costs whilst living there.

You need to speak to the ATO or an accountant.

Cheers,

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

Comments may not be…[Read more]

Montrose,

You really got it against brokers haven’t you. Were you bitten by one as a child?

[]

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 know when I was first on this forum I was a little frightened by some of the well intentioned advice being given by one inexperienced investor to another. Some of the stuff I was reading was plainly illegal.

I think the forum would benefit from a few more professionals other than brokers who can give of their experience. Perhaps some…[Read more]

I am not sure but am guessing that it would probably be OK in that case.

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 will be able to get the NODOC on their behalf.

They can get it if they meet the FIRB requirements.

We will have to do some research to see if they meet the requirements.

Is it a new property they are looking at?

Cheers,

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

Comments may not be relevant to individual…[Read more]

Woody,

Go to

http://www.mortgagehunter.com.au/first-home-owner-grant.html

Follow the links to your state department and you will see that it is essentially correct.

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,…[Read more]

They always check your CRA to see that you are not a serial defaulter!

They will know about the other loans so disclose them.

Remember that the lenders want your business so they will try to do the loan if it meets their policy guidelines.

Cheers,

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

Comments may not be relevant…[Read more]

Or check out the choice package if you want to stay with the NAB!

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.

Yes it is correct depending on when they were purchased.

Check it out on

http://www.mortgagehunter.com.au/first-home-owner-grant.html

Follow the links to your state government department.

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…[Read more]

If you continue your own savings you can build a savings pattern to satisfy the lenders.

Had a client recently who kept his savings in his parents offset account. Seems like a great idea but it crueled him when he applied for a 95% lend as he couldn’t prove it was his savings.

Cheers,

Simon Macks
Mortgage…[Read more]

Montrose,

I am not going to dispute your opinions. In fact I defend your right to have and air them.

However it will please you to learn that you should no longer see brokers, real estate agents, buyers agents or others coming on merely to advise their services. The other moderators and myself will be deleting posts from people like this who…[Read more]

Many people are finding that it is too good to be true as they are now trying to onsell apartments worth less than their contract price.

Be careful and do your research well.

Do a search for OTP.

Cheers,

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

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

The problem you face is a NODOC loan needs a 35% deposit plus purchase costs. Rate is only 6.85% which is pretty cool.

They would also need to fulfill the FIRB requirements.

Unless they put it in your name as you suggested but this may not help you in future lending as it will count as another loan in your name.

Simon Macks
Mortgage…[Read more]

Take it mate!

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.