Hi CathFrom memory you mentioned buying with your father so as i think i pointed out if you looked at buying in a Discretionary Family Trust this may aid your serviceability if he was a Trustee. More importantly with 3 dependant children you will get additional flexibility when it comes to income distribution.Your level of your husbands credit…[Read more]

Hi Garvin As Jamie mentioned going to be a lot easier to look at a lender who accepts paid defaults and does not Credit score.The use of the funds will put certain lenders off but can think of a couple who would certainly look at such a proposal as long as there is some end benefit for you.CheersYours in Finance

Sorry appreciate Sebastian is new to the forum but his information is incorrect.Most lenders will go to 90% of the property value and will not charge you a higher rate 

Hi cathI do not really understand on what you are trying to achieve but assume you mean the new Title would be in your dad's name and the loan in your name.Regretfully you wont find any lender accept this for a variety of reasons including serviceability and therefore as mentioned previously it sounds like a DFT might be the way forward.This will…[Read more]

Hi TeFirstly welcome to the forum and i hope you enjoy your time with us.The introduction of the new National Consumer Credit Protection Code on the 1st Jan 2011 places a greater emphasis on lenders and introducers to ensure that clients can trully service their new borrowing and as a result many lenders including CBA / Colonial now request…[Read more]

Hi JohnShoot me an email and i can certainly recommend an excellent Property based Accountant.CheersYours in Finance

Hi BrendanIf you are looking at advice in relation to shares, investment or any financial advice then you will need to see a Licensed Financial Planner.Must admit i cant recommend anyone in particular for Sydney but someone else may have a recommendation.CheersYours in Finance 

Hi keenI have answered your secondary post before reading this one.Based on the fact that the Title is in all 3 names then you would be unable to take on further borrowing against the current security without your parents being party to the new loan.Secondly if you did look to buy separately serviceability might be an issue as although i imagine t…[Read more]

Hi NathWelcome to the forum and I hope you enjoy your time with us.To be honest you could do both it is just a matter of how you structure it to maximise both your returns and legal Tax deductions.Without knowing more about your current financial position it is difficult to comment on specifics but it essence i would suggest you looked at the…[Read more]

Cheers Paul appreciate the wrap.Hope 2011 has started well for you.Sure we will chat again when i get back from the UK.The more information you have given me cath makes me think the Discretionary Trust is probably the way to go.CheersYours in Finance

Hi JamieAppreciate the comment and John be more than assist you with the struucture going forward.I am currently in the UK altough leaving next weekend so if you want to shoot me an email be more than happy to make a time for a coffee and catchup once i get back on board.CheersYours in Finance

Hi cathFirstly welcome to the forum and hope you ennjoy your time with us.Good to hear you are taking the plunge into your first IP.There are a couple of points you to need to consider and I would probably need to ask you personnal financial questions where the answers probably shouldnt be posted on a public forum.In general if the property / i…[Read more]

Hi JulieWont comment on the area as i am not an expert on the surroundng suburbs but flexibility in regards to the loan structure could be very important for your future planning.Personally i would make sure your mortgage broker suggests a Interest only loan with 100% offset account so that if you do decide to rent the property out you can…[Read more]

FredoHate to say ANZ dont use Residex but Australian Property Monitors assuming they dont undertake some form of kerbside or full valuation.CheersYours in Finance

Hi DeanSorry being in the UK still on holiday for another week so a few hours behind the rest of the world.Sure Jamies answer was satisfactory but feel free to post any other questions and I will happily add some imput.CheersYours in Finance

Hi JamieHey mate been sprung. 9.00PM here in the UK and Arsenal 2-1 up in the FA Cup.What else is one to do on holiday but post and watch football.Think i will have my hands more than full when i get back to Brisbane at the end of the month volunteering to help people who were effected with the floods.CheersYours in Finance

Hi LostyFor once i have to say I disagree with Jamie on this one.In order to structure the loan for the most Tax effective way i would not switch the current PPOR loan to an interest only loan and then use the funds sitting in the offset account as deposit for the new IP.By doing this you are only able to claim the interest on the new IP loan…[Read more]

There are several ways of reducing your CGT liability but the easiest way is not to ever sell your asset.CheersYours in Finance 

Hi wallalongAs Jamie has mentioned an interest only loan certainly will give you flexibility when it comes to repayments.I would however certainly suggest you look at what structure / entity you might buy any potential invesment property in especially as one of you is likely to be off work for the coming 3 years. Maximising your deductions both…[Read more]

Hi cappyThe boys have certainly as expected given you good advice to date.Even though you may live at home and pay no board or rent most lenders will factor something in as expense and this will effect your borrowing capacity.CheersYours in Finance