K & TI still use the same formula today owning 40 IP's as i did when i purchased my first.1. Can i finance it – in your case that appears to be YES.2. Have i got the correct finance structure. Do i have my equity loan in place for the deposit and acquisiton costs so not to cross collateralise ther securities. (Your standard Finance clause will not…[Read more]

Hi LizzieWith the Bowen Hills property is it an off the plan property or established.1 bedroom is the total square metreage of the unit over 50 square metres ?CheersYours in Finance

Remember there is a reason why high yields look like a bargain.Why not as Michael mentioned start small and invest in Oz to start with.At least that way you will protect your parents equity.CheersYours in Finance

As Michael has mentioned on paper it sounds perfect and in some bases too good to be true but as is everything in life "if it sounds too good to be true then it probably is".Anz will not alone in touching a PIT prepared by Chan & Naylor and I am suprised their Finance Dept did not tell you that … ah in saying that of course maybe you wouldn't…[Read more]

Yes his commission will be clawed back if you refi within the first 18 months and even after this period he will loose his trail.Need to make sure that he doesnt charge you the equivalent amount by way of a fee if his commission is clawed back.I still go back to what i have said so many times before that the interest rate is such a small part of…[Read more]

buck might want to be quick with the Anz deal as at this stage it is only valid until end of Nov.Then it will be someone else turn to win a wee bit of business.CheersYours in Finance

Mel in my opinion a Line of Credit is probably one of the worst structure sets up's for a PPOR loan there is.What happens when the client decides to move out of the property and buy another PPOR and rent out ther current property?Can he / she redraw the LOC and claim the interest ???? I think we both now the anwer to that one.CheersYours in Finance

Loans are set up using a series of LOC's or similar (Equity loan and an IP) and will not be accepted by every lender. Set up obviouslty depends on the available equity you have in your portfolio.Will respond on the other points later on as processing a couple of loans as i type.CheersYours in Finance

Again though NOT with Anz.It is horses for course and they are not in the running for such a deal.CheersYours in Finance

I am sure your Broker has his reasons for approaching ANZ but i cant think of lender less favourable when it comes to Contractors.Just completed a 90% lvr for a client in a similar boat in the mining industry who was paid on Contract thru an employment agency with rolling 6 month contract.If you can substantiate the regularity through past Tax…[Read more]

Really i certainly deal with the larger banks but many smaller lenders also.I would touch ubank with a barge pole for lending but i guess you are no me.CheersYours in Finance

Remember that only way to access capital growth is to either borrow against the equity which will not be tax deductible if it is for personal reasons or to sell the property.When you sell the property everything you have claimed by way of a Capital Allowance is taken off the initial purchase price thus increasing the Capital Gains Tax payable.ATO…[Read more]

Wow 22K per annum on Austudy thats not bad.Cheers Yours in Finance

Hi Ch4rlieWhen you say too conservative are you referring to the credit policy of the lending institution.If so why waste your time ringing around and trying to get information on policy which most lenders wont give you anyway.Why not drop either of the above guys a line and get them to come up with a solution as there is more to lending than the…[Read more]

Totally agree with you Terry.CheersYours in Finance

No unfortunately only in brisbane although do everything interstate or inter country by email / phone in the main.The question you have to ask yourself is what type of property am i wanting to buy and why do i want to buy it.If the property is negatively geared and you need to claim the Tax credits then you may look to buy the property in your…[Read more]

Terry think Waydo is refering to a Personal Loan and not PPOR.Still agree that not sure Waydo understand the best way to structure the laon in order maximise deductions.Cant change the names on titles of existing properties without triggering CGT and Stamp Duty (in most cases) so that is not the issue the issue is going forward and how to do…[Read more]

JB No minimum time as the ATO will get there slice of CGT when the IP is sold.CheersYours in Finance

I would argue unless you can build the property at cost price why go through the pain when you can buy a new property already completed or something a year or 2 old. Depreciation / Capital Allowance levels are still nice and high.Just financed a couple of excellent properties in Morningside that are new but never occupied and Depreciation was…[Read more]

WaydoJac M has answered clearly the benefits of the offset account but let us take the reasoning a little further.Without hard data it is difficult to provide exact numbers but i assume your personal loan is at a higher interest rate to your PPOR loan. What you could do is take out a sub loan on your PPOR and use these funds to repay the personal…[Read more]