Hi ChristineFirstly welcome to the forum and i hope you enjoy your time with us.I am actually in the UK on holiday until the end of January but still working away so feel free to drop me an email.Be suprised how many clients similar to yourself i have had in the same boat.If the numbers stack up then definately could be a good deal.CheersYours in Finance

Yes I agree with Maurice.Alistair knows his stuff and is good to deal with.CheersYours in Finance

Yes as Jamie mentioned you will be fine but you wll be suprised how many of the major lenders will still ask for genuine savings even at that LVR.CheersYours in Finance

Structure. Company no CGT discount. Other structures get the 50% cgt discount.Unless purchased using a SMSF when you get 33% discount not 50%.CheersYours in Finance

Whilst a lender cannot discriminate over your age under NCCP they are required to ask for evidence that the loan can be serviced whilst in retirement.Statements such as they intend to sell up their investment property to pay down the debt are not acceptable under NCCP and a lender would ask for statement from their financial planner or…[Read more]

Might have to slightly disagree with Den.Had a client approach us in early December who had been to see an Accountant only to be recommended a Hybrid Trust structure with Corporate Trustee. Some several thousand dollars later he walked out carrying the Deed.With the type of property he was trying to purchase and the circumstances regarding the…[Read more]

Hi LeoHate to say an Accountant wont be able to assist you in structuring the loan (unless of course he holds a Credit License) merely the entity to purchase the property.A good mortgage broker will help you with the loan structure to ensure you can carry on purchasing IP's.Course everything is subject to serviceability come 1 Jan so probably ev…[Read more]

RanilYour wife could look at purchasing 50% of the current PPOR from you and then you use the raised funds for deposit on the new property. Not sure about NSW but there maybe some Stamp Duty payable.In saying this you need to work out whether the Stamp Duty cost is outweighed by the interest savings on the new property.From my initial numbers i…[Read more]

Sure Mark is a good guy also i just like to support people who give their time for free and contribute to the forum.Steve certainly does that and as i say looks after my portfolio and has done for 15 years.CheersYours in Finance

Hi KristyHave a look at http://www.bantics.com.au website as they have a couple of excellent articles on "How not to become a property developer".CheersYours in Finance

Hi MitchHappy to recommend someone to you.Try Steve Hodgkinson who is with the Gold Business Group at Southport on the Gold Coast.Steve has been my Accountant for 15 years and is an expert on property structures.I have referred literally dozens of clients to him from the forum and he is a regular contributor himself.Address56 Davenport Street (cnr…[Read more]

"Veda" but close enough.P/L would have to have gone as that will really drag the credit score down.CheersYours in Finance

Think you might have misunderstood the post However converting your existing residence into the investment property will mean none of the interest is deductible.This is not the case as the interest on the100K existing balance will be deductible when you make the property available for rent.Is the current property solely by you or with a partner.…[Read more]

Assuming your CRAA is totally clear and you can come up with circa 10% deposit (You will probably need all of that) as depending on your ages your Credit score will not read well with Assets / age.May get 95% lvr so on a $300K property would need 15K plus acqusition costs minimum.If any credit impairement still showing  then unlikely to get much…[Read more]

Matt several lenders have been taking rent payments as evidence of savings for some years now.The Dragon has gone the other way and actually tighened up their lvr policy.No waiving of LMI there now Wesuck are the big brother.CheersYours in Finance

Save on possible Land tax however just incur higher Accounting / ASIC fees instead let alone increased borrowing costs when it comes to taking out a loan.CheersYours in Finance

Hi again IPYes some lenders will factor in potential income from the property which will be the IP.No issues in getting the approvals yet not lodging the Titles. Couple of clarifications there:1) Some lenders insist that you separate the Titles (i.e NAB etc)2) Your DA may require it within a certain timeframe. (Council might like the 2nd set of…[Read more]

Morning IPGiven that it is 4.28am in the UK and i still sulking over Chelsea's loss to Arsenal last night I will keep my answer fairly short.1) Not exactly sure what you are asking here but assuming you are merely referring to the lvr then Yes lenders would have a problem with the numbers. This is not to say that the deal can funded on the income…[Read more]

Morning PJYes most lenders will allow you (subject to income and equity) to establish a LOC against your PPOR and some will allow mutliple splits.I wouldn't have an issue in having 1 LOC for multiple deposits because structured correctly you will refinance the IP to draw out the equity and pay down the LOC anyway to allow you to keep on buying…[Read more]

Couple i can think of would include:1) Approaching US lenders direct.2) Using a non Australian mortgage broker.3) Using a Australian mortgage broker who hold a full Credit License.4) Moving to the UK or away from Australia.CheersYours in Finance