As long as you don't contaminate the LOC with your current loan you should be fine.

Cheers

Yours in Finance

TCM if the LOC is already set up and the accessible funds just sitting there then absolutely no reason why you wouldn't use it.

Keep the loans separate and you can't go to far wrong.

Cheers

Yours in Finance

Jermiah

If you are referring to Steve's comment about increasing your ability to borrow buy using mutliple Trusts then i think you will find Steve has clarified the position.

Each guarantee needs to be declared and would have a bearing on your serviceability

There are many other ways to maintain your borrowing level without having to resort to…[Read more]

Oh i agree Jamie and Brisbane will be down to that in the new town plan.

Mind you takes less time to mow and maintain than my 2500 sq M city block.

Cheers

Yours in Finance

Hi Kannabrank

Welcome to the forum and i hope you enjoy your time with us.

422 Sq M is fairly small so you will be limited to what you can build on such a site.

As far as cost is concerned there is no 1 price fits all as a standard 3 bedroom brick lowset will be a lot cheaper than an architectually designed Qlder.

Why not try some of the…[Read more]

Hi TCM

Firstly welcome to the forum and I hope you enjoy your time with us,

Without full details it is difficult to provide you with an accurate answer however depending on the numbers the way you would normally try and structure something like this would be to covert your existing loan to interest only, then make application for an equity loan…[Read more]

Terry is bang on and hate to say whoever has told you to the contrary is totally incorrect.

You cannot use the property as security but certainly borrow against another property and look to purchase the property a Tenants in Common.

Definitely seek expert advice on this one.

Cheers

Yours in Finance

Hi Matt

Ok if you have owned before then hate to say NO you wouldn't get the S/D concession or indeed the Building Grant.

With $30K it depends on what you are trying to achieve from your purchase / s ?

If you want to spread it across a couple of purchases then your choice of finance is quite important.

There are a couple of options to reduce…[Read more]

Mortgage Choice are a public listed company so like any organisation such as this have to increase the bottom line for their shareholders.

They are a sausage factory where they get certain over ride commission rates from certain lenders who then become their favourite lender irrespective of  whether it is right for the client or not.

You purely…[Read more]

Hi Milliet

No sure who told you that UK Banks will lend with 25% deposit but i hate to say with 1 exception all UK lenders have pulled out of the Non Resident market even if you hold a UK Passport.

This particular lender only lends in selected Home Counties areas although has a maximum lvr of 60-65% and a minimum loan of 100 GBP.

I go back…[Read more]

Hi TheOoz

Firstly welcome to the forum and I hope you enjoy your time with us.

The boys have given you some good pluses of acquiring properties using a DFT structure so i wont repeat old ground.

What you need to ask yourself is what do i really want from my portfolio and when you state you want to be financial free in 9 years what do you mean…[Read more]

Issy welcome to the forum and i hope you enjoy your time with us.

As to whether the area is a good area to invest probably needs a lot more research but i am with Jack if the prices have come back over the last 12 months or so then you have to ask yourself why.

Also new property whilst it might give you an initial increase in the amount you can…[Read more]

Hi Matt

Couple of quick points that might be worth thinking about.

1) FHOG has been and gone and has been replaced with $15K Great Start Grant. As long as you move in with 12 months and live in the property continously for 6 months you should qualify. Course assumes that you have never owned another property in Oz before (PPOR or not).

2) Your…[Read more]

Hi James

Yes you should be able to get your own Bank to provide the equity loan but make sure you make your principal reduction conditional upon them approving the sub loan.

Last thing you want to do is pay the loan down only to find they wont approve and no you are snookered.

Do not i repeat do not cross collateralise the securities as it will…[Read more]

Hi James

Yes make a principal reduction to your PPOR from your offset account and then take out a equity sub loan and use this as deposit for the IP.

Keep the loans separate and the interest on the entire 2 loans will be deductible.

Cheers

Yours in Finance

Although a cash deposit which was offered as security and borrowed against as a Term Deposit would be deductible.

Of course whether you would want to is another matter.

Cheers

Yours in Finance

Pagey

Yes not only does in not matter what the rate you are being charged but also the security you are offering to take your investment loan out against.

As i have said many times before if you get a lender to advance you the funds using the security of a pogo stick and the purpose was for investment the funds would be…[Read more]

Either genuises or shysters and i have money on the one on the right.

Maybe Jamie can enlighten us all after her has read his PM.

Cheers

Yours in Finance

Interesting indeed as it simply work out as i cannot be done with equity / cash or some form of vendor rebate / financing.

Look don't have a problem with Vendor Finance in fact we have just started back up out Vendor Finance division to investors where they can borrow 100% of the Contract price on selected properties but it is like anything as…[Read more]

No point in going to a Financial Planner as unless they hold a Australia Credit License or are an Authorised Representative of an ACL they are unable to provide you with any Credit advice in relation to you mortgage or home loan choice.

Cheers

Yours in Finance