Hi AdisGive Jamie a call he is an experienced broker and long time contributor to the forum.He also owns a few investment properties so can advise you with an element of experience.CheersYours in Finance

Hi TitoWhat sorts of properties are you looking at refinancing?Bank West are competitive when it comes to multi unit blocks unless residential security is offered.Resi product is ok but they are a pain to deal with credit wise.CheersYours in Finance

Hank to qualify for the FHOG you need to occupy the property for 6 continous months commencing within 12 months of Settlement.There is nothing to stop you moving in on the 364 day.Unfortunately the Stamp Duty concessions are not as liberal and vary from State to State.In Qld for example you need to occupy the property for 12 months from the date…[Read more]

Have to be honest i always suggest PPOR first as whilst you can get a second grab at FHOG you can't in most States with the Stamp Duty Concession.If you take Qld for example the savings if you buy your PPOR initially, comply with the S/D residency requirements and then rent out the property amount to nearly $12,000 on a $400K property.Each to t…[Read more]

Yes definately it has gone from 5 to 4 lines.Still needs to be amended.CheersYours in Finance

Hi HankAppreciate your keeness to tout for business but you might want to read the rules of membership.A maximum of 3 lines are allowed on your signature.CheersYours in Finance

One consideration would be what can be financed over the block.Many lenders do not like multiple properties on a single Title so that is going to be important.If the property can be subdivided initially that would certainly help.Whilst it is possible to get 3 dwellings on a single title with a couple of lenders care would be need to make sure you…[Read more]

Yes you can obtain a loan on a 457 Visa but you wont get it mortgage insured so limited to <80% lvr.CheersYours in Finance

Definately get some legal / specialised Accounting advice.If you have set up the security custodian trust set up prior to the Pty Ltd entity you are asking for ATO trouble.Hope that advice wasnt from your Broker.We see clients with set up problems every day of the week. Even Solicitors who dont specialise in this area have no idea .CheersYours in Finance

Josef i will put that comment down to your maiden post.Please let me know for which lender you open these accounts for and I will make sure i never refer clients that way.Advice like that makes our job so much easier.As it is i spend most of my working day untangling the mess bankers and brokers cause clients with comments like that.Let us hope…[Read more]

As long as your handle name doesnt represent your employment status i cant see an issue as long as serviceability is evident.I am not sure i would do it as an owner builder loan and would suggest subject to equity you merely do it as a "cash out" deal and control the cash flow yourself.Couple of lenders spring to mind that would allow such a…[Read more]

Hi IntrigueLike Terry i dont want to spoil the party but realistically if you could a 50% lvr on a specialised security such as that you would be doing well. I am assuming that you have no equity left in your PPOR.You cash funds in the offset account probably wont go close to even covering your legal costs, stamp duty etc even if they did offer…[Read more]

Hi PaulieWe do a fair bit of SMSF lending and set up's and to be honest i agree with you i think you will need more than 60 days for Settlement.Realistically it could take a potential lender 21-28 days for finance and then documentation about the same again.Costs and documentation requirements are obviously a little more in depth than they would…[Read more]

lilaBefore you looking for the property i would personally get the sub loan or refinance going as often this can be the bit of the equasionthat slows down the process. We always try and do this part for clients upfront so they have the structure set up correctly and funds available so when they find somewhere there is no delay.CheersYours in Finance

LilaThe reason being is that the interest on the investment loan is Tax deductible irrespective of the security which it is secured against so you want to try and maximum your deductible debt and minimise your non deductible debt.Even if your PPOR loan repaid you would probably be better off taking interest only with 100% offset account on the…[Read more]

Hi AnnieYes i fully understand. I have dozens of IT clients in the same boat and a lot that have come over from the UK and have only been contracting for 12 months or so. As i say i dont think it is an issue it is just not accepted by a lot of lenders.CheersYours in Finance

Annie, even at a 90% lvr some lenders / mortgage insurers will have a problem with less than 2 years contracting.Easy answer is to flick Jamie an email when you are ready to go and get him to sort it out for you.Why not get a professional on the job.CheersYours in Finance

To keep the funds fluid.Once you pay down the loan you can redraw the funds and then claim a deduction on the interest.If you decide in the future to buy your own PPOR you would want to minimise the non deductible debt and maximise the deductible debt. The net interest savings with an offset account is the same but it gives you choice.CheersYours…[Read more]

The boys have stolen my thunder.With a decent amount of equity in the property it is also important you structure the loan correctly to ensure going forward is not happered with cross collateralised loans.Cheers Yours in Finance

Hate to disagree but i dont use Wesuck for SMSF loans as i dont find them anywhere near as competitive as other lenders in that sphere.As Jack mentioned the floods have come and gone. I think basing an investing decision around a once in 30 year event is unwise.Brisbane went under last year also and we just sat and waited and then filled out boots…[Read more]