Anz just announced 37bps reduction.CheersYours in Finance

Not at all.A 90% lvr on a $300K purchase could be significantly less than a 82% lvr on a $650K property.CheersYours in Finance

Hi HeathYou are just about there.As Jamie mentioned if you think one day you might move out and rent out your current PPOR then go IO on the PPOR loan.If not then P & I is fine.CheersYours in Finance

PFrankyJust drop Jamie an email and get him to sort it out for you.He has vast experience in the area and even though he comes from Canberra we dont hold that against him.CheersYours in Finance

Wow prospector hate to say that is probably the worst thing you could probably do.Your lender will be looking to maximise its own security position and be wanting to cross collateralise your PPOR with your IP and certainly isnt going to tell you how to structure your loans correctly.Other little trick is lenders often do a quick credit search…[Read more]

Hi StassNo certainly you can make an offer subject to anything and as long as the Seller accepts it then all well and good.I would make the offer subject to finance on Terms acceptable to you and a satisfactory Building Inspection within say 14-21 days.This way you have peace of mind that the as long as both are ok then all systems go.Either make…[Read more]

Hi HbayHate to say there is no change in the investment rate of Stamp Duty and has been stated it will be determined by the Contract date rather than the Settlement.I have a forum client where we are looking at a Call Option contract to get around the Contract date and make it July 1 rather than pre June 30 to lower the acqusition…[Read more]

Yes house size if the important part and then you can work out the square metreage cost.Buying OTP can be difficult as finance wont be approved until completeion yet you have to go unconditional from day 1.Must admit i have been swamped with applications from Gladstone, Emerald and the Coast in 2012 and in the main we have found the valuations…[Read more]

Normally anything over 4 units on the same Title is considered Commercial and the rates and fees charged reflect this.In saying this there is the odd lender who may look at the deal on residential terms however dont expect to be getting all the Pro discounts etc. Normally these deals are done at standard residential variable rate.The rate will…[Read more]

Agreed but boys the Aggregator most of us belong to wont take David without a minimum of 2 years experience.Hate to say it is a big bad world out there and you probably have to accept you will accept 12 months trying to get referal networks built up tying yourself in with an Accountant / Financial Planning firm etc etc. CheersYours in Finance

Hi ThommoIt is certainly a good question and one that gets raised here a lot.The entity you use going forward with your future investment property purchases will depend on a couple of things some of which will include:1) Whether the property is negatively / neutral or positively geared.2) If negatively geared whether you need to claim the Tax…[Read more]

Bit late now given that you have already settled on the property.Just need to bear in mind that substiantial renovation and strata titling the units will trigger GST so you need to factor that you into your end sale price.CheersYours in Finance

5 Years more in your own PPOR you would certainly be unwise to use your own cash.Sure $6000 / week + is nice especially if it comes from ununcumbered property like mine does but it just doesnt make sense to advice like that from anybody who gives you advice like that.Sorry i call it like i see it.CheersYours in Finance

You mention that the PPOR will become an IP eventually when you move out so i assume at this moment in time you are still living there for the time being.If this is the case i would not be using cash savings as deposit but either bbe using your cash as security and borrowing 100% of the investment property or paying down the debt on your PPOR and…[Read more]

Mozy sounds like you should be getting a new Broker on board.Cman as has been mentioned previously there are 2 points to bear in mind.1. With the FHOG you need to occupy the property for 6 continous months commencing within the first 12 months.2. With the Stamp Duty concession this will vary from State to State. In Qld for example it is 12 months…[Read more]

Hi DanielI have answered your PM but as Andrew said make sure you get your Solicitor to read the small print of the Instalment Contract.Depending on where you are looking to buy will dictate when you will receive the First Home Owners Grant so dont depend on that being available on Possession in every State. Secondly make sure you are entering the…[Read more]

Ryallsy as Terry has mentioned certainly dont use cash in your offset as deposit on your IP.In regard sto the lvr you should look at this will depend on whether you are looking to increase your portfolio or whether buying the 1 investment property is your goal. Certainly there is no point in paying LMI if you have plenty of equity and are not…[Read more]

Hi RichoYes you are merely buying your mother's share in the property so no GCT for you until you sell the property.With the Stamp Duty you merely pay duty on the transferred amount.Course the loan would need to be re-written and that would involve the release and re-registration of the mortgage but all in all a fairly simple exercise. I am doing…[Read more]

Hi RichoThere are 2 parts to your question:1) Stamp Duty. This will be charged on an investment basis and will depend on the value of the transfer.      You will get a credit for the Duty already paid on your share.2) CGT. Course this is not paid by you but by your mother.Without hard data and the date of the Transfer it is difficult to pro…[Read more]

If you were a First Time Buyer in Brisbane you wouldn't have paid any Stamp Duty on a $500K purchase.CheersYours in Finance