AlexO & A – Offer and AcceptanceNCCP = National Consumer Credit Protection (think the acronym is wrong) LOC = Line of CreditIO = Interest Only

Hi Tam
Some lenders may have a problem with it
but your Broker should be able prepare the Credit
submission for you correctly. Remember most
Brokers do not charge any fees.

Just be careful listening to the advice of your
Banker. I have a client here on Brisbane who went
to set up a separate loan on his current Ppor (to be investment property)…[Read more]

I am currently away on holiday so will keep the response fairly brief.

Terry is correct in the US 100 shares make up 1 option Contract and with some
stocks you get 2 expiry dates in the same month.
BP & C (citibank) are 2 examples of such stocks

Back to Australia have you considered a long dated instalment warrant.
In the US try a LEAP.

Yes no dramas in using the equity in your IP although i prefer to use the PPOR as when we refi the IP loan and swing 100% of the debt onto the security itself it keeps in nice and clean.

Dont want to appear rude but i would check those figures yourself as i cant think of any property where you would loose $25,000 clear after Tax.I am not doubting your Accountant but even if the purchase price was $600,000 and you were only getting $250 / week the loss would be nowhere near that.If it is draining your savings by $25K per annum post…[Read more]

PMCouple of quick observations.$25K sounds like a lot of shortfall each year are you sure this is correct.Are you sure this is post non cash deductions such as Depreciation / Building Write off as well as any Tax Credit.Secondly if you sell the property for less than the original purchase price you wont be liable for any CGT rather you will make…[Read more]

Using an interest only loan with 100% offset even though you have no current PPOR gives you flexibility so if you decide to purchase a property for your own occupation in future years you are not having to pay interest on non deductible debt.You would merely utilise the funds in the offset account and either use this as deposit or gear against the…[Read more]

Hi KristyThe only way it could be done is that if both names are on the Title of the existing property then both of you will need to go on the equity loan secured against the former PPOR. This would be a second or sub loan to any current loan on the property.Subject to your income you could then take out a separate loan in your name only on the…[Read more]

Hi JackIf the property is negatively geared and you need to claim the negative gearing each pay period then 99% shares would go to the highest marginal Tax payer and 1% to the other owner.Course downside is that one day when the property becomes positvely geared then 99% of the income gets allocated to you and also if the property is sold then 99%…[Read more]

Yes as an authorised agent of the OSR the lender can submit your FHOG application and the funds will be available at Settlement.They will want you to sign it and provide the relevant Certified Identification but other than that they should prepare it for you.

If someone else takes out the loan then they will want to be (and the lender will insist) on Title.This then means it is not your PPOR and could be an IP for them.They and you loose the Stamp duty concession, may incur CGT and also Land tax depending on the land value etc.I would do a search on Sydication and read up on some of the problems i…[Read more]

Again taking the figures from MYOB or any other Accounting program will still show your Net Taxable Income for 10 as $45,000 or less so a lender wont take any other figure into consideration (ignoring Depreciation and non recurring expenses).Clearly from this declared income there would appear to be insufficient income to service the required…[Read more]

Nope cant recommend anyone lolSorry Steve should be so facetious.Feel free to drop me a line and certainly i can give you some ideas.

If you are prepared to give up some of the potential capital growth a shared equity scheme could be an option.Max lvr is 90% so you would to have a deposit but we are starting to see more and more of these loans evolve.You might take out a 90% lvr and you make repayments on say 70% with 20% being interest and repayment free. The lender then takes…[Read more]

I dont believe under NCCP a lodoc loan would be applicable as you have already stated you have completed your 2010 Tax Return and it showed a Net Profit of $45,000. There is no justification to then go and state a higher Net Income merely to qualify for a larger loan.

Jess as long as you can produce last 2 Year Tax returns for your husbands business you will be treated exactly the same as anyone in PAYG employment.Lenders however take your Net Taxable Income for serviceability.If not the number of lenders reduces but again not unsummountable depending on what documentation you can provide and whether husband is…[Read more]

A wrap is a wrap around mortgage where the vendor offers to fund the sale by allowing the purchaser to make payments  to him instead of his Bank until the loan is paid off.The Seller retains Title to the property during the period although the purchase has possession.

Sash you shouldnt have to ask your Broker.If he knows his onions he should be telling you that CBA will do it standing on your head.

Heh JamieWhat is wrong with Uzbekistan ? Doing a couple of deals there at the moment. Well at least the client said he was buying there so i have ordered the valuation !!!!

Totally agree exactly the same as Homepath with CBA, One Direct with Anz etc etc etc.