Hi PeteMust admit slightly biased coming from the South and one of the projects we purchased for clients was down at Winchester but of course as always the North being cheaper attracts the better yield.CheersYours in Finance

Hi ShockFirstly welcome to the forum and hope you enjoy your time with is.The response to your questions will depend on a few factors so i will answer each separately.Q.Shall I leave the 100k on the offset account?A. You want to keep the loans separate although finance 100% plus costs so it is merely of matter of how you structure this. If you…[Read more]

Terry i must say i scratched my head when i read that and asked myself why oh why.As i think as Jamie and i have mentioned before when you are not filling out Preliminary Assessments, typing out quotes, undertaking Diplomas and updating your CPD points or getting ready for an ASIC suprise audit you get chance to write some loans.The further…[Read more]

Sorry i am not Terry or Jamie but maybe able to offer an opinion.I think i would be pushing the Bank to do the Top up loan now rather than later.As long as you can justify the costs thru quotes there is no reason why they would say No.CheersYours in Finance

Carl for my 2 cents worth i am unsure why you would paying down a IP with vigour when you have a non deductible PPOR debt.By all means pay down investment debt if that is your strategy but NOT when you have other liabilities.As Shane has mentioned you will now pay Tax on the rental income yet have less deductions by way of an interest…[Read more]

Wow what an incredibly complicated structure your Broker has set up for you and as the boys have mentioned could end up costing you a pretty penny.Before you rush might be an idea to take stock of the situation switch mortgage brokers and get the structure right before you proceed any further.Always try and get the individual loan standing on its…[Read more]

Fell off the ride on mower at the weekend so will answer as follows:Live in large detached house 8 kms from the CBD on a big block and personally wouldnt swop it.Dont think i could squeeze 5 of us and a dog into a 2 bedroom CBD apartment.Keep those for my tenants as they rent darn well.Age oh Yes 47.CheersYours in Finance

Hi NadaimeeFirstly welcome back and believe it or not you can get Professional advice on this forum also.Accessing your equity and buying in your SMSF are 2 separate issues.Insufficient hard data makes it difficult to provide you with some exact numbers but in essence i would look to work backwards.Based on the fact that you are looking to acquire…[Read more]

Hi EraserYes not an ideal set up i must admit.I think it would be a good idea to untangle the 2 loans and set up the IP deposit properly before you make the offer on the next property.Sorry to hear you last experience of using a Mortgage Broker wasnt too good. Hate to say like any industry there are always going to be some bad apples but hopefully…[Read more]

Lizzie i dont like the sound that you are buying through a property investment company who are no doubt earning a sizeable commission from the sale.Why dont you Contact someone like Andrew Allen from the forum who is a Buyers Agent and who specialises in the Brisbane area.At least that way you will end up with a good value property in an excellent…[Read more]

Unless you rely on the interest from the savings place the funds in your offset account.The interest you receive will need to be added to your Taxable income and will not aid your negative gearing position.CheersYours in Finance

I would never buy a Unit without doing  a search on the BC records.Who knows what forthcoming expenditure you might be up for.CheersYours in Finance

Amazing that a representative of C & N just happens to pop up and post his / her first post when their firm is mentioned.Have to disagree Lodoc in a Trust structure is readily available through a wide range of lenders and NCCP has certainly not put a end to this. Whilst the lending requirements by way of required documentation maybe appear…[Read more]

Happens every day of the week.In many cases we get a pre-approval done for the client and at the same time order a valuation with an assumed purchase price by an acceptable valuer.The client then knows that as long as the property doesnt go for any more than that figure and the relevant risk ratings etc are all good he should be good to go.Course…[Read more]

Reason i ask is we are seeing a few Off the Plan properties in Brisbane value in at less than the purchase price and havent seen that in years.Few developers trying to lock in sales in order to get finance and yet the valuations are coming up short.Personally i would be buying a property ready to go rather than OTP in the current finance…[Read more]

But as Michael mentioned probably better off to stay put as by the time the loan documents arrive the Westpac rate could be better than Anz.Clients forget this is just temporary competition amongst the majors and when Credit Growth increases or they have the share of the market they want discounting will cease.Dont chase a rate for rate sake as…[Read more]

Precisely my point Terry and something we do for clients.CheersYours in Finance

You will have to take the LOC from your existing home lender.I would then take the new IP loan with a separate lender.Totally agree that the saving is marginal and if you get in deep with nowhere to go then you can't call for a spade to dig yourself out.CheersYours in Finance

I have to say if i was in Melbourne that night and knew Nigel was talking I would go along as you wont find anyone more knowledgeable on the US market.CheersYours in Finance

nnelg i would take Terry up on his offer.Nigel you are so right managed to get away with it then and seems they are still at it.CheersYours in Finance