Refinancing wont get the property to neutrally geared as you cannot claim the interest on the additional borrowing.You cannot just increase the loan and expect the ATO to dish out a Tax deduction.This is what Terry and I have been saying you need to think carefully about what you want out of the property (are you going to keep it long term etc)…[Read more]

I agree with Terry apart from a couple of lenders you will be seen as jointly and severally liable for the entire $700K existing loan  and on your income serviceability could be a real issue.Even assuming your partner doesnt have any existing borrowings he may wish to buy something else in the future.Careful consideration and structuring needs t…[Read more]

All depends if you think the property is going to be positive / negatively geared (and whether you want or need to claim any deductions) whether there is much Depreciation / Capital Allowance to claim and whether you think you will ever sell the property for a profit in the future.Hate to say not a quick matter of throw a dart in a…[Read more]

Hi DavidWelcome to the forum and hope you enjoy your time with us.If i thought prices would fall further this year i would be telling you to save up your deposit further and wait until you get back but from all reports Sydney prices could well kick again and go up this year. (Certainly here in Brisbane i am expecting to get back into the buying…[Read more]

Yes you could certainly purchase the property with a 99/1% share on the Title as Tenants in Common and your wife would receive 99% of the deductions / income.Some lenders insist it is a minimum 90/10% but not the end of the world.Deductions are based on Title ownership and not who is on the loan.CheersYours in Finance

I have used and referred to client Depreciator.Cant go too far wrong with the right sized firm.CheersYours in Finance

Hi MidsomerFirstly welcome to the forum and hope you enjoy your time with us.Couple of points:1) Buying the IP will not prohibit you from applying for the FHOG in the future. Sure you may loose your FHO stamp duty concession but dependant on which State we are referring to that might be too late anyway.2) Anz would have to have the worse reval…[Read more]

Hi JohannHappy New Year to you.Whilst you have a PPOR loan you would use savings as a deposit for an IP as you loose the Tax deductibility of the funds contributed. You would better off using equity and paying your PPOR down (or using an IO loan and putting savings in the offset account if you think the PPOR may 1 day become an IP).Also i would…[Read more]

As Catalyst has mentioned the QS report can be claimed in the Tax Year in which the expense was incurred irrespective of whether it is your first IP or not (Not sure where that came from).Your Building & Pest Inspection report costs are added to the cost base however any action taken in regards to the comments of the Pest report can be claimed in…[Read more]

Sorry DHCPThat is simply not correct.Neither lender you mention will lend against valuation irrespective of the purchase price.It doesnt make any difference whether it is a bull or bear market.If you have a look at the Credit policies of both Banks and in fact all lenders it clearly states "purchase price or valuation whichever is the lower".There…[Read more]

Must admit i am not aware of any lender that wiill lend 90% of the valuation.90% of the purchase price / valuation whichever is the lower i would agree/CheersYours in Finance 

Hi AmandaDepending on the rest of the application you might get 90% lvr on a standard residential rate with the right lender.Anything more than 4 on a single Title normally constitutes Commercial lending so higher rate of interest and reduced LVR.CheersYours in Finance

Hi boogeFirstly under NCPP you are required by law to advise the lender of any material change to your financial circumstances over the next 2 years so maybe you should be thinking about this.Ignoring this you should be thinking about paying interest only loan on the IP to maximise your Tax deductions.In regards to whether you can support a…[Read more]

On a secondary note have you considered how you would finance such a development.Whilst there are a few lenders lending in the development sphere they are few and far between and you probably going to need decent equity elsewhere, some good cash reserves, pre-sales and past experience.We do a far bit of Development financing on our deals and for…[Read more]

Hi MerySure not a problems at all.Glad we were able to assist on this one and I am sure the next one wont be too far behind.Happy New Year to you both.CheersYours in Finance

Yes hard to believe isnt it.You can buy an IP here in Oz and throw in NZ security as collateral.Has to be in the larger Cities but sure can be done with a few.CheersYours in Finance

Hi MikeNot quiet correct there are a couple of Australian lenders who take NZ property as security.CheersYours in Finance

Bob, have a look at one of Terry's other posts he responded to a similar question and answered it excellently.CheersYours in Finance

Might want to do a search on the topic as it has been mentioned on dozens of ocassions over the years.We have financed enough deals up there over the last 12 months to start your own mini Bank.CheersYours in Finance

Ok assume you have no PPOR.Are both loans standalone and Interest only. Do you have 1 100% offset account linked to at least one account.CheersYours in Finance