Hi MikeYou bet they doAccording to their web its free advice,they make commission from the developer.Next thing they will be telling you they have had a valuer already do the valuation on the property and you can use their inhouse finance broker who can use the same report to save it being retyped.Trust me nothing is for free.CheersYours in Finance

Hi TimKnow the Deception Bay are pretty well and financed 3/4 properties up there over the last couple of weeks.Agree with a lot of the comments already made. It has water but also has issues so be careful and dont pay over the odds for potential.If you want a Residex report run on the property shoot us an email and i can send it back to…[Read more]

Yes PJ will need to be fully Licensed under NCCP.PJ sorry old mate at the moment ASIC are saying that anyone lodging an application at the moment could be from 12 weeks onwards to be processed so i would not be waiting until you find your first buyer to have your License in place.Also have you throught about which lender you will using for such…[Read more]

Not sure exactly what you mean by a partner in your land ?If you mean a builder or someone to finance the deal without any security or at best a 2nd mortgage i think you have absolutely no chance in the current climate.if you mean someone to finance the construction then this will depend on a few matters i.e General Asset position, number of…[Read more]

No not an issue as long as the funds redrawn are used for investment purposes.If the original loan was a PPOR then you would have contaminated the interest and real issue on your hands but if it a P & I loan for some reason on an IP and the funds redrawn are ONLY for investment i guess it is better than nothing. CheersYours in Finance

Hi J & J Firstly welcome to the forum and i hope you enjoy your time with us.To answer your first question yes as long as neither of you have occupied this or another owned property as your principal place then you would be entitled to claim the FHOG. Claiming the concessional Stamp Duty depending in which State you are located maybe a separate…[Read more]

Unfortunately under NCPP it is difficult to provide a structured answer without further information on your goals and objectives so my answer will be fairly brief.You obviously havent at this stage decided whether you will sell your PPOR or retain it and rent it out.Initially why dont you convert the loan on your PPOR with your existing lender to…[Read more]

$3.99 / month with Bank West for a 100% fully transactional offset A/cCheersYours in Finance

beedie they are out there.I would get a call every  3rd or 4th day from agents i buy through with DA/BA sites for sale and vendors who are desparate.CheersYours in Finance

WW i agree with you that the Brisbane market is softening although for someone who owns a property or 2 in the City it doesnt really worry me. I owe very little in relation to my portfolio so a few interest rate rises doesnt mean a great deal.Rents came off the boil about 12-18 months ago and i think if you were highly geared you would be in all…[Read more]

And just to clarify the amount I am able to borrow will also be based on my ability to service both loans as a whole?Yes this is correct.I am just wondering if this is the right way to think about it as I have read in some other posts it is best to split these debts up into different accounts and avoid cross collateral?Definately dont cross…[Read more]

RomeOk not convinced it is a proper 100% offset account as i say Flexi First doesnt offer such a product but either way we wont argue as it really doesnt matter.As you wont need the funds for a PPOR redrawing the funds for a deposit on an investment property really doesnt matter so i would do this and then depending on the price top it up with…[Read more]

Ok the plot thickens.The Flexi First doesnt as far as I am aware have an offset but a redraw facility and there is a big difference.Also hate to say if you are studying next year and on your current income i dont think you will service another loan especially if you intend to occupy the property.CheersYours in Finance

And if you ever think you might rent your PPOR out and buy another PPOR you should go Interest only with 100% offset from day 1 irrespective.There is already a couple of present posts where forum clients are doing just this and have already paid down sizeable chunks of the PPOR loan only to realise they cant redraw the funds and claim them as a…[Read more]

AndrewWhat you can look to do is purchase your spouses interest in the property (Course depending on your marginal Tax rates she might end up purchasing your interest in the property) whilst it is a residential owner occupied property and then when the property becomes available for rent the interest becomes a deductible expense and can be…[Read more]

Hi RomeYes i think i understood the numbers but was concerned that you are using a P & I loan as you mentioned you have paid off $80,000 to date.It is not as easy as Martin mentions as there is a big difference between equity and usable equity and you can only use this if you cross collateralise the 2 loans which is certainly not recommended.Not…[Read more]

RomeMhh i am concerned already and hope your current broker didnt suggest the set up you have.I would have suggested interest only with a 100% offset account from day 1 to preserve the deductibility of the interest and also to give you flexibility.All i can hope is that you dont have a current PPOR loan or likely to in the very near…[Read more]

Where is the property located ?Cheers Yours in Finance

Ok shame spouses have their use for times like this lolAltenative you could look to sell the property into a Unit Trust borrow 100% of the PPOR value and the entire interest would be deductible.Yes you would stamp duty and land tax would be need to be considered but depending on the numbers there could be a good monthly saving.CheersYours in Finance

brunowa are you married or own the property jointly ?CheersYours in Finance