This is locked as it is a double post.

Simon

Why do you not want to refinance?

Surely that would be easier than the alternative you described?

Cheers,

Simon Macks
Finance Broker
simon@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 I have offended you with my insensitivity then please accept my apology.

I didn’t accuse you of anything nor your broker.

I asked you a question.

Please understand that this is an area of increasing fraud perpetrated by borrowers and encoraged and abetted by brokers. Unfortunately the borrower commits the offence and wil have to live with…[Read more]

Generally a LODOC or a NODOC wil have a higher rate than the standard variable. Some lenders have a LODOC method of entry into a normal oan but these sometimes aren’t a true LODOC.

A LODOC will usually lend up to 80%. They require that you certify your income. ie make a legal statement as to what your income is.

A NODOC is similar except they…[Read more]

Consolidating is not always the optimum solution.

It is sometimes a case of pushing a 3 year debt out to a 25 year timeframe resulting with you paying many times the interest you would be normally paying.

One strategy is to focus on the smallest debt and pay the minimum off the others. Pay out the smallest as fast as possible then choose the…[Read more]

Originally posted by crusher:
Cathnniv,

I think there may be some confusion here. The main purpose of accessing equity in an existing property is to use it as a deposit on a new property so you don’t have to come up with the cash or have to pay mortgage lenders insurance. If I understand your situation correctly, you should have heaps of equity…[Read more]

There wont be an ASIC announcement – that is not how ASIC works.

I suggest you call ASIC or Derivex for an answer to your questions.

In the meantime without anything new being discussed I am locking this topic.

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

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

Originally posted by Mortgage Hunter:
You are either trolling for an argument or are an idiot Hardly fair, simply because Jason is questioning the validity of a legistlation that ultimately could impact on his (and others) investments???.

Do you not understand what I wrote Josie? I thought you were a little brighter than you are coming…[Read more]

In a rising market or where the investor can add value or even buy under valued it is this increase in equity that allows them to buy more.

Simon Macks
Finance Broker
simon@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…[Read more]

Originally posted by Monopoly:
I’m sorry but after reading the information of the provided link, repeatedly, I STILL cannot fathom the correlation between the need for Workers Comp insurance and residential property owners cover for tenants!!!

The ONLY section that even HINTS to have some merit is:

Example 3.
A sub-contract paver who happens to…[Read more]

Originally posted by JasonBourne:
Monopoly got it right, I’m questioning why landlords need it, when it is for the protection of employees.

This question has still not been answered, so it still sounds like BS to me.[V]

Can you change it…yep…just don’t pay it. I can’t believe people would blindly pay this without any explanation of why they…[Read more]

Can you change it?

If the answer is no then pay it or don’t own property in this state.

Why waste emotional energy fighting it or complaining? Turn your effort to something a little more productive.

If the answer is yes then change it and everyone will be happy [biggrin]

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228…[Read more]

Sounds like a reaction born of fear. It will rent. Maybe at a lower price.

Keep sight of your original plans and goals.

Remember to learn stuff as you go along and keep cheerful regardless!

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

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

Perhaps the rental market is quiet in your area.

I think I would be speaking to some other PMs to see what they think is possible. Check the advertising and also have a look at what is available for similar money.

Remember that to let it for less can often be smarter than having it empty for an extended period.

I hope it all resolves shortly…[Read more]

Originally posted by JasonBourne:
Why would residential IP owners need workers compensation insurance? Sounds like BS to me.

What are you saying Jason? That having an insurance that may be a legal requirement is something you wouldn’t do?

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to…[Read more]

Broome,

Why are they the best and what is techhowse looking for?

Cheers,

Simon Macks
Finance Broker
simon@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.

All accounts are compound if you let the interest ride in the account.

Simon Macks
Finance Broker
simon@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.

I’m not sure about the deductibility of interest on a primary residence (because it would still be a primary residence vis-a-vis the ATO).

To the best of my knowledge and experience it can be done.

Best to speak to an accountant or the ATO.

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to…[Read more]

Aaah but if you occupy the dwelling then rent it and reoccupy it you can neg gear it for up to 6 years without losing the exemption. As long as you do not own another PPOR.

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

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

You can claim tax deductions for the period the propery is available to be rented.

Simon Macks
Finance Broker
simon@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.