Of course you could always de-strata the block after you took ownership of all units.

Would of course have to work out if the savings on Council rates makes up for the potential increase in Building insurance premiums.

As to whether a BC is required will depend on the State in which the property is held.

Cheers

Yours in Finance

What sort of education are you after Cristy ?

Cheers

Yours in Finance

Interested , your strategy of paying down the investment loan does not make financial sense especially where you have non deductible debt.

You would be better off linking an offset account to the property you are residing in and then linking this to the new PPOR once you move in.

To maximise your deductions you need to structure the loan…[Read more]

Thanks Scott no problems in doing a VF deal in Vic then or selling a percentage of the property.

Course you would need to make it attractive to a potential investor given the quality of good deals out there.

Other issue i can see is that if you sell part of the property your lender is going to need to consent to this.
You would both be…[Read more]

Exactly Terry you know what i am relating to.

Cheers

Yours in Finance

Hi Peter

Yes in simplistic terms but not in reality if they are related.

If husband was Director or one Company he would still be consider a married person in regards to a living allowance expense even though his wife was not a Director or party to the loan.

Cheers

Yours in Finance

Jamie i think you and most economists alike especially given the news that capital property prices have increased quite significantly.

I personally thought they would wait to see the results of the 3rd quarter GDP figures.

Not convinced they will go again Melbourne Cup day.

Bank of Qld starting the ball rolling with a 20bps cut this…[Read more]

Can you remind in which State the property is located.

Hoping it not South Australia.

Cheers

Yours in Finance

As i say to most new investor clients when choosing a mortgage broker it is matter of looking at someone who walks the walk and talks the same talk as you do.

No point in going to a local broker telling him you have $300K equity want to build a portfolio and ask him to structure a loan set up for you when he tells you he has 5% equity in his PPOR…[Read more]

Brodie

Try http://www.rightmove.co.uk and go to their overseas property section.

I use it for all my UK Purchases.

Cheers

Yours in Finance

No hate to say too late now as it.

You cant even claim a Tax deduction on the interest being charged now you have stopped making payments and allowing the debt to increase back again.

Sure your NAB Banker will confirm that.

Cheers

Yours in Finance

Hi Aussie

Hate to say the introduction of NCCP eliminated for all intense and purposes portable loans so in reality you wont be able to transfer the mortgage. Each loan will require a new application, credit assessment etc etc etc.

In saying this from your post i think i think what you are trying to do is maximise your deductions from the old…[Read more]

Hi Patch

A deposit and secure employment is two of a number of requirements lenders / mortgage insurers may have.

It is > over 80% lvr, do you credit score well or do you need a non credit score lender ever had a credit enquiry in the last 12 months etc etc etc.

Sorry i am not trying to be facitious but the list goes on and a deposit and a job…[Read more]

Sorry Patch you didn't ever mention any particular loan criteria your original post related to a Borrowers Agents website and us to comment on what we thought of them.

Again absolutely impossible to make an open recommendation without all of the facts and figures.

A lot of lenders offer the criteria you are after but whether you meet their…[Read more]

As Terry mentioned unusual maiden post but we get all sorts here hence the skepticm.

It all depends on what you are looking for i guess.

If you want a Yes man i guess they might suit you but most serious investors look for a little bit more than that.

Cheers

Yours in Finance

Doreen, As Terry mentioned Yes it can be done but i would have to ask WHY you would want to do it.

Cheers

Yours in Finance

Hi Scott

If you are not receiving a PAYG income or in fact have not completed a 2010/2011 Tax Return with sufficient income to evidence serviceability then it is unlikely any lender will consider the application.

In saying this of course it is difficult to comment further with full details of your income position.

Cheers

Yours in Finance

I agree with Jac and that's how i started back in the mid 90's (although admit we owned 5 IP's unencumbered from Day 1 and that helped with the repayments).

When you get to a level where the rental income is healthy enough and assuming you  have no non deductible debt nothing wrong with  paying down the debt as quickly as possible and eventually…[Read more]

I agree with Jac and that's how i started back in the mid 90's (although admit we owned 5 IP's unencumbered from Day 1 and that helped with the repayments).

When you get to a level where the rental income is healthy enough and assuming you  have no non deductible debt nothing wrong with  paying down the debt as quickly as possible and eventually…[Read more]

On $30K / annum make sure your Financial Planner doesn't charge more than 1% of your Annual income in consultancy fees.

Don't know which suburb you are talking about but have you considered wrapping it under a Vendor Finance arrangement.

Might at least claw some of your cash flow and turn it from negative into a positive holding…[Read more]