I agree with IP freely i would sell but utilise the equity and use the extra cash flow to reduce the interest charged on your current non deductible home loan.Look to gear against the current equity and then use the funds released as deposit for a couple of other IP's.

Anz will have sent your Broker / Branch a faxed Loan approval advice with all terms and conditions mentioned.You have no problem as long as you have sighted these.More of a concern would be the whearabouts of the loan docs.If they have gone astray the Bank could have a duplicate set ready within hours and you could sign them the same or following…[Read more]

Yes in addition to the 3 Banker has mentioned i can think of 3 others off the top of my head who would also do the deal and 2 others who would go to 90% lvr.Not a matter of what you havent got more a matter of what you have.The fact that you dont have Tax returns may scare some Brokers and lenders however others adopt a more common sense approach.

AdamWith an installment Contract Tax is paid on the "Emerging Profits" basis so incremental each year as the profit increases.

Wont comment on some of the individual areas in your list as i have property in them and are very happy with the appreciation and returns but if you have any particular properties you are looking at be happy to email you a Residex report on the property itself.

I agree.i registered on the 3rd Apil and got my letter less than a week later.i think as the months go by and into May / June you might find ASIC are rather busy.

Hi MattYou would be suprised.For the right applicant 95% lvr is availble with no genuine savings (in fact the saving can be borrowed) at standard interest rates.

Whilst i have only ever done wrapping in Qld it is not the best State when it comes to the payment of the FHOG.

AndrewYou called.

I am with Terry i think ATO so called Audits are all spruiked up to scare lodoc borrowers.From July 1 the emphasis however moves to Broker or Banker so ensure the loan is suitable.

Under the new NCPP the emphasis lies with the introducer to ensure that all of the information is correct and that the applicant is suitable for the finance recommended.Recently attended a briefing held by our Aggregator and they had a lawyer from Minter Ellison there giving everyone an overview.Their advice was until the details of the Act could…[Read more]

Terry agree there is a little moore appetite for debt.Will be interesting to see whether the Lodoc / Nodoc market disappears totally under the new Credit legislation.I for one certainly wont be writing any more lodoc deals from Jul 1.

Terry agree there is a little moore appetite for debt.Will be interesting to see whether the Lodoc / Nodoc market disappears totally under the new Credit legislation.I for one certainly wont be writing any more lodoc deals from Jul 1.

he new Credit Laws are going to make this very interesting.If you go into a Wesuck (Westpac) Branch as an existing customer and they tell you that their product is for you and is the best out there they have breached the new Credit Laws as clearly you could do better and they should have referred you elsewhere.Went to an interesting briefing…[Read more]

KatIf the difference between the Bank valuation and your loan amount is $50K then unfortunately this is not useable equity as in most cases you would only be able to borrow upto 90% of the current valuation meaning you would have less available for a deposit.

Get them to look at selling to him either using an Put & Call Option or instalment contract  with a minimum term.Either of these would appear to satisfy the problem.

Hate to say both structures are flawed:1) Your should take out an interest only or P & I loan on your own home with a 100% offset account against it.Pay the surplus funds into the offset account and not the loan itself.2) Take out an interest only loan secured against your investment loan.

d.one Regretfully buying 1 home in your name and the 2nd in your partners name will not work as your partner will not qualify for the FHOG.

Hi KatMust admit i havent read Steve's lates book but i can see why he would say that equity is not the way to go as a deposit for the first IP. Personally i would never recommend to a client that you use Cash especially where you have a non deductible home loan debt.In and around Brisbane you are very unlikely to find anything that is cash flow…[Read more]

DanielRegretfully at the mo with Wesuck there isnt one as they clearly dont want new business and have priced themselves well out of the market.Depending on if it is a one off deal or not the usual Pro package comes with bells and whistles but something like the Rocket Repay might be the way to go. Dont like application fee though.If it doesnt…[Read more]