I have a feeling they wont be offering you any bad testimonals.Just ask her how many properties she has and that will give you an idea about her passion or whether she just in for the money.CheersYours in Finance

What is it that confuses you?CheersYours in Finance

Nice try but regretfully not unless of course the additional borrowing is used for investment.Say you increase the loan by $100,000 and use these funds to invest in Managed Fund then YES the interest is deductible.If you increase the loan and have a great holiday then regretfully not.CheersYours in Finance

Also make sure you have very deep pockets as you wont finance them with any conventional lender at the moment irrespective of the LVR.CheersYours in Finance

Hi BrunowaI would converting the loan to an interest loan with 100% fully transactional offset account so that the savings are ready available yet the loan is protected.Net interest result will be the same as if you were paying down the loan however the main thing is the savings in the offset account can be used for a new PPOR deposit and the…[Read more]

Also Loan costs where they are incurred where the purpose of the loan is for investment.Deductible over 5 years or the term of the loan whichever is the greater.CheersYours in Finance

Whichever way you go i would converting the current loan to an interest only loan with a 100% offset account before you do much more so at least that way you preserve the deductibility of the loan interest going forward.Funding a new PPOR being all non deductible debt will be expensive if you dont structure it correctly.CheersYours in Finance

Sorry to be so niave but why cant they get a loan in their own names. Is it income, credit issues or some other reason.Most can be overcome depending on the LVR.If you have equity why dont you let them buy the property in their own name and you finance the deal on your property.Alternatively you lend them 20% deposit plus sufficient to cover their…[Read more]

Hi JessSimple answer the date of the contract is used for CGT and not the Settlement date.The 12 months is calculated between the 2 Contract dates.CheersYours in Finance

Hi KarenOk no dramas. You are more than welcome to email me over a weekend but in the meantime i will PM you anyway.Fingers crossed for you.CheersYours in Finance

Nzuv Sorry i believe it is the August not July edition.Shoot me an email if you want a PDF version and i can send it to you.CheersYours in Finance

Nzuv Sorry i believe it is the August not July edition.Shoot me an email if you want a PDF version and i can send it to you.CheersYours in Finance

KazThere is absolutely No need to cross collateralise the securities even though you are using equity in 1 property to fund the deposit on another.Shoot me an email and i will let you have my 10 Reasons not to cross collateralise your loans factsheet.CheersYours in Finance

Hi KarenI must admit i am not a great lover of cash contracts however as long as confident in your credit history and have carried out search on the property to make sure there is no encumberances and it will value up then i dont see an issue.I can think of a couple of lenders who based on the information provided would lap it up and a couple of…[Read more]

SwimWhy can you not refinance?Lodoc loans are still very much around and as long your loan repayments have been conducted satisfactorily and you credit is clear you would appear to have sufficient equity.CheersYours in Finance

Hi deakinFirstly welcome to the forum and I hope you enjoy your time with us.Many lenders i can think of wouldn't touch the deal on servcieability however in saying that a lot of others would.If you are looking at potentially renting the property out then interest only would be the way to go although believe it or not many lenders wont allow this…[Read more]

Are you sure the loan is directly thru Adelaide Bank not  a mortgage manger who is using Adelaide Bank funding as if so that could be the case.Otherwise i think they are having you on. CheersYours in Finance 

Happens every day of the week and could be for a number of reasons.If the loan documents where all back and correctly signed 3-5 days prior to settlement should be no reason why you cant proceed. Coming upto Xmas many lenders are taking bookings a lot further ahead than normal but this happens every year.Get your Broker or Banker to push it and…[Read more]

Hi MattAs long as the lender doesnt insure every loan irrespective of the lvr (some lenders insure < 80% but they pay the LMI premium) then the mortgage insurer will not need to sight your new application sub 80%.CheersYours in Finance

Yes the waiving of exit fees is only on new Contracts.Existing signed contracts old exit fees apply.CheersYours in Finance