I agree with Mike in relation to the transfer of the property from the Bare Trust to the SMSF however feel that the Steve is asking whether the property can be transferred to himself personally which of course breaches SIS.In relation to the Development as long as the SMSF is not seen as running a business i wouldnt have a problem.A few years ago…[Read more]

Hi JohannGovernment Bonds are certainly not a new investment.Your question is a wee bit opened ended.Do you want to narrow down a little more to what you need to know.I am assuming you understand what a Bond is and the mechanics behind them.CheersYours in Finance

And Maree was happy i think lolCheersYours in Finance

Ok assuming the credit defaults have dropped off your credit file and not just showing as paid then you should be fine.Question you would ask yourself is as the loan is going to be mortgage insured anyway is it worth paying the extra LMI and having a separate loan and rolling in the Personal Loan to the home loan saving you significantly in Annual…[Read more]

SportyTry my Accountant who is an excellent bloke, specialist on property structures and also a forum member.Steve Hodgkinson who is a partner at the Gold Group in SouthportGOLD GROUP CONSULTING56 Davenport Street(Cnr Davenport & Bay Sts)SOUTHPORT  QLD 4215 Phone: (07) 5532 2855Fax: (07) 5532 4563Email:  enquiries@gold-group.comTell him i sent y…[Read more]

Hi BradReason for my hesitation is you would hate to find that you cant get the construction loan off the ground because of a failed credit score basis due to the fact you had recently applied for a personal loan.Would need to know all the numbers first before i could give you a clearer path.CheersYours in Finance

Hi BradPersonally i would try and get the Pesonal loan sorted first and then worry about the deposit for the 2nd IP.Whilst you are constructing access equity is going to be difficult until the property is complete so you want to be careful how you structure the whole deal.The cheapest personal loan rate may not be the complete solution especially…[Read more]

Hi BradI am assuming the land has little equity in it as if so i would try and pay the Personal loan down at home loan rates.Split the loan making the land and construction loan interest only and have the P/L portion as a P & I Loan linked to a 100% offset account.Go hell for leather in paying down this part of the loan.If you dont have sufficient…[Read more]

How old are they?Might be a Capital allowance consideration depending on the age.Also brick may require less maintainance. All depends on the actual numbers and what you are wanting to do with the property long term.CheersYours in Finance

As Jamie has mentioned the old "liar loan" as they were called have been and gone but in saying this as long as the loan can be justifyably serviced there is no reason why it cant go full doc.Certain lenders do consider border income and many lenders accept casual income so it all boils down the actual numbers.Simple rule of thumb is if you cant…[Read more]

Hi AndrewComing from the UK i already had a property there and was seeking to buy in Europe somewhere we could use as a holiday home when we are there as well as a good long term investment as a hedge against the AUS. Prices in the UK / Europe are so ridiculously cheap at the moment but the tide will turn and having an income in both GB Pounds…[Read more]

No that is incorrect as the Title defines who claims the Tax deduction and not who borrowers the money.I hate to say it doesnt sound like your Broker has any idea on loan structure as Jamie initially mentioned it is a bot of a mess.There is a couple of ways you could maximise your deductions and simplify your structure.Must admit i am a loss why…[Read more]

Totally agree with Jamie i fail to see why you would want to cross any of the securities.Seems adequate equity and serviceability in each deal to be standalone.Why not shoot Jamie a quick line and get him to structure it for you. Will cost you nothing and you will get it done properly.CheersYours in Finance

Do a quick search on previous posts and you will see the comments others have made about the Company.Just read them sitting down and with your hands in your pockets.CheersYours in Finance

Many small businesses use such products to support their business lending and in answer to your questions:1) Yes it is possible with some lenders. Others do not permit the funds to be used for business purposes or wish to charge a higher rate of interest. Check with you lender whether they allow such purpose.2) The interest charged on the funds…[Read more]

Hi AndrewOh dont get me wrong there are issues in investing in parts of the UK (Not sure i would be the first one to buy in parts of Oldham or Barnsley) but in the main from my experience the UK has a very similar property system to here in Australia.In every large City there are areas to avoid and the UK is no different. Sure not every Tena…[Read more]

Hi MattSorry have to disagree.AUS / GBP pair is as strong as it has been for years.Prices in the UK are as cheap as the USA without the need to spend $$$ on renovation.Property management is a Profession like Australia.You can finance a deal in the UK with a interest rate circa 4-5%Conveyance process is the same as most States in Australia.No…[Read more]

Ben there is no difference in the LMI (other than crossing securities can work out more expensive in regards to the premium) if you cross your loans or structure them correctly.Without the exact numbers it is difficult to set out to you the actual calculation for you but there is no difference as i say.CheersYours in Finance 

Hi BenLook i hate to say but your Broker should have explained this all to you.To achieve the same end result without crossing the loans all your Broker would have done would be:1) Set up standalone loan of 80% of the new IP purchase price secured against the IP solely.2) Set up a separate sub loan (Do NOT touch the redraw) for 20% of the IP…[Read more]

Terry be suprised how many lenders are also adopting the same attitude to Trusts as BW.Same old story if you dont understand or indeed if it only forms a small portion of your business and you dont want to understand then easier to same NO.CheersYours in Finance