Hi Urilla

Disgree there are many companies that offer such a service depending on where you are look to develop.

Course financing such a proposition isn't easy unless you are fairly well cashed up as the asset value diminishes to land value once you knock down the existing property. Then if you are trying to do it by way of residential financing…[Read more]

Hi booge

When you ran the numbers to see whether you can afford to keep both properties did you factor all of the deductions you could claim on your current PPOR which of course will be the new IP.

Deductions would include both cash and no cash deductions and you maybe pleasantly suprised as to how much the real bottom line is.

Even if you…[Read more]

Hi Cha

Before you rush off and list the property for sale i believe there are other factors to consider.

The ATO apply the "Purpose Test" to the use of the funds although I am assuming you own the property in your sole name and not jointly. If so a spousal transfer could be an option.

There are a couple of actions i would probably take now to…[Read more]

Hi Ailime

When you say can you access the equity for a deposit are you referring to a new IP or PPOR?

Whichever way Yes you can access the equity however if the funds are for a new PPOR it wont be Tax deductible.

Structure it correctly and keep both loans separate and you will be able to access the equity for a number of property…[Read more]

You would sell the property at an initial nominated price and retain title to the property whilst the buyer pays you with a series of instalment payments. 

You would charge interest on the outstanding balance at a higher rate than you are being charged by your current lender and retain the cash flow difference.

Cheers

Yours in…[Read more]

Have you looked at selling it under Vendor Finance terms.

Certainly would increase the cash flow.

Cheers

Yours in Finance

Good luck in trying to finance such an arrangement.

Lenders wont like an OB deal for a investment.

Cheers

Yours in Finance

No certainly have no problems with at all.

Just often find however much advice you offer someone often they still go out and do what they want so prefer to keep the advice general on a forum as you don't know specific circumstances.

When you mentioned your loan will be with Homeside it drew me to the conclusion that you had to have a Broker on…[Read more]

Yes as been said do a fair bit of Spousal Transfer work and not as easy it sounds.

Firstly need to do the Transfer and the new loan at the same time and be suprised how many lenders can't wrap their heads around it.

Also sorry to say Stamp Duty is payable but will only be on the balance of the Transfer value and not on the full new…[Read more]

Tracy

As Derek has mentioned hate to say No you aren't able claim interest on the $110K.

Easy to be wise in hindsight but often best to look at an interest only loan with 100% offset account.

Cheers

Yours in Finance

Yes lvr under 75% and over 200K but still a very attractive product for the right client.

I love Advantedge as they are so transparent in their credit policy, No application, valuation fees, no ongoing fees or charges and service with the right BDM is second to none. 

Admittedly not for everyone but if you are a vanilla investment product you…[Read more]

Many agencies will source the tenant for you undertake the relevant checks and balances and let you manage it.

Normally charge you a weeks rent for the service.

Not sure i would do it but each to their own.

I actually employ 2 part time staff to manage my portfolio deal with the loan / rental statements etc and would never think of taking it…[Read more]

Also remember this is merely construction costs and wont cover Council contributions etc

For a 3 bedroom Townhouse 100 Sq M 2 internally would be a reasonable size.

Cheers

Yours in Finance

I would certainly read some of Steve McKnights books will give you insight to what is possible.

When you say you have sufficient funds for a deposit have you calculated all of the purchase costs ?

Cheers

Yours in Finance

I think you have to look back to where Blackwater house prices were pre mining boom and then also look at the mortgage insurer and see why they are not providing cover in a lot of these areas.

Course it is merely there attitude and interpretation of the same data we are all privy to access but without them the demand reduces considerably if you…[Read more]

Noticed Andrew didn't come back to clarify his incorrect comment or indeed provide us with a fascinating link from the ATO website where it was possible.

As Terry mentioned always obtain advice from a Licensed Professional.

Cheers

Yours in Finance

As Jamie mentioned sounds like you have had a enough responses already over the 2 forums so rather than add to the post I will leave it for you and your Broker to work thru the options.

Cheers

Yours in Finance

As Jamie mentioned.

Other consideration is you will get the Stamp duty concession as it is your first purchase but wont get the FHOGC unless you buy something new.

5% of $350,000 plus registration costs etc is still nearly $20K and whether you can get LMI capitalised is questionable.

Get a parent to kick in 20% deposit from their equity and…[Read more]

There are actually more than 2 lenders who take applications from purchasers on a 457 Visa and 1 that will allow the LMI to be capitalised.

FIRB may limit the type of property you can buy but then at least it is a foot in the market.

I return to the UK every year and usually do a talk or two at the Britishexpats.co.uk forum.

Cheers

Yours in Finance

Hi Renae

There are a few lenders out there that offer better than packaged rates without any application or ongoing fees.

It is horses for course.

Cheers

Yours in Finance