So say I buy a flat and I get 2 years fixed. Then after year 2 I decide I want move back to Australia.

What happens here? Effectively, I will need to refinance the loan into a buy to let loan on a much lower LVR. Will I be forced to sell at this point as I can’t convert it to a Buy to let loan because banks wont touch non uk income to refinance…[Read more]

So say I buy a flat and I get 2 years fixed. Then after year 2 I decide I want move back to Australia.

What happens here? Effectively, I will need to refinance the loan into a buy to let loan on a much lower LVR. Will I be forced to sell at this point as I can’t convert it to a Buy to let loan because banks wont touch non uk income to refinance…[Read more]

What happens once the fixed period ends and you try to refix. Can you refix with overseas income? Or are you stuck on higher variable?

The water, gas and electricity show usage but I always had my mail sent to a PO Box. THe bills were in my name and I paid for the usage however.

The water, gas and electricity show usage but I always had my mail sent to a PO Box. THe bills were in my name and I paid for the usage however.

The water, gas and electricity show usage.

But is water, electricty and internet in my name enough to prove I was living there?

Seems so

Just looked at CBA’s terms also

https://www.commbank.com.au/content/dam/commbank/personal/apply-online/download-printed-forms/utc-home-loan.pdf

Page 28 (clause 11.2)

and

HL8 page 40

Seem to indicate this to me

I don’t want this burden and am happy to pay more in interest for no headaches down the track

Ok guys, just read the terms and conditions in detail.

If you are on a Home Loan product, turns out you need consent from your lender to rent it out (big 4 bank). They cant unreasonably withold providing such consent. I have moved back into my PPOR but may need to move out again on sort notice. So I have decided to keep the mortgage as…[Read more]

Ok guys, just read the terms and conditions in detail.

If you are on a Home Loan product, turns out you need consent from your lender to rent it out (big 4 bank). They cant unreasonably withold providing such consent. I am temporarily moving back into my PPOR but may need to move out again on sort notice. So I have decided to keep the mortgage…[Read more]

Ok guys, just read the terms and conditions in detail.

If you are on a Home Loan product, turns out you need consent from your lender to rent it out. They cant unreasonably withold providing such consent. However, this is too burdensome for me to save c.4% on interest as I just cant be bothered asking for consents. So I have decided to keep the…[Read more]

I was looking for evidence to prove I was living as my main residence at point 4 because if I can’t prove this I would potentialy have a big cgt liability as my 6 years will be hit now

4. Then lived in it for 6 months from April 2013 to October 2013

I have found gas, electricity, water and internet bills in my name. Is this sufficient?

I had…[Read more]

I was looking for evidence to prove I was living as my main residence at point 4 because if I can’t prove this I would potentialy have a big cgt liability as my 6 years will not be hit now

4. Then lived in it for 6 months from April 2013 to October 2013

I have found gas, electricity, water and internet bills in my name. Is this sufficient?

I…[Read more]

Terry thanks so much for the link – it was very helpful

Is there a minimum period you have to move back in for the 6 years to be reset.

In my situation.

1. I purchased a house in Nov 2009

2. Lived in it for 18 months to April 2011

3. Rented it out for another 2 years to April 2013

4. Then lived in it for 6 months from April 2013 to October…[Read more]

Terry thanks so much for the link – it was very helpful

Is there a minimum period you have to move back in for the 6 years to be reset.

In my situation.

1. I purchased a house in Nov 2009

2. Lived in it for 18 months to April 2011

3. Rented it out for another 2 years to April 2013

4. Then lived in it for 6 months from April 2013 to October…[Read more]

Are you sure the 6 year period can be reset?

https://www.ato.gov.au/General/Capital-gains-tax/Your-home-and-other-real-estate/Your-main-residence/Treating-a-dwelling-as-your-main-residence-after-you-move-out/

If you read the example of Rami, it appears you only get 6 years in total. Not unlimit d 6 year intervals on the basis you move back in…[Read more]

Are you sure the 6 year period can be reset?

https://www.ato.gov.au/General/Capital-gains-tax/Your-home-and-other-real-estate/Your-main-residence/Treating-a-dwelling-as-your-main-residence-after-you-move-out/

If you read the example of Rami, it appears you only get 6 years in total. Not unimitrd 6 year intervals on the basis you move back in…[Read more]

^my concern with taking use of these options is that the market will be artificially inflated and may contract once these options are no longer available to the market

So you saying banks have existing default clauses requiring you to pay back the loan if your financial situation changes post loan funding even if you are meeting interest payments? Or for resi loans once the moneys lent as long as interest it paid its all fine even if the borrowers financial situation changes

I know commercial loans have…[Read more]

So you saying banks have existing default clauses requiring you to pay back money if you dont have a job even if you are meeting interest payments? Or for resi loans once the moneys lent as long as interest it paid its all fine?

I know commercial loans have quarterly interest coverage covenants etc but I can’t see monitoring clauses in post…[Read more]