DaleInterest on your PPOR will be non tax deductible so if you are happy with the home you are currently renting then probably better off to consider expanding your IP portfolio rather than buy a PPOR which wouldnt serve your current purposes. Depending on the purchase price you are considering with $60-80K you could probably afford a couple of…[Read more]

DaleInterest on your PPOR will be non tax deductible so if you are happy with the home you are currently renting then probably better off to consider expanding your IP portfolio rather than buy a PPOR which wouldnt serve your current purposes. Depending on the purchase price you are considering with $60-80K you could probably afford a couple of…[Read more]

Totally agree the official rate and mortgage rate seem to have little correlation these days anyway.

Brett hate to say doesnt matter who you employ no standard lender will openly lend against such a security where the intent is to sell the property under an instalment contract or similar.Mattnz you are bang on it is the attitude of all lenders.Having been involved in wrapping, LTO's, 2nd Mortgage Carry backs etc etc since 1996 i have seen a few d…[Read more]

To be honest 8.25% is one of the more favourable affordability rates.Hard to comment on how you get ahead without all of the facts and figures to hand.Remember ever lender has a varying way of looking at serviceability. If it doesnt fit with 1 lender then you might find another has a more flexible calculation model.

I agree GOM 4 posts 4 adverts.I wonder whether we have anyone here who has ever even done a wrap or LTO.

Heh maree You dont have anything in the Peninsula area Vic do you ?

Even if the property is owned and is held as security lenders will not take 100% of the rent and this will vary from lender to lender but the norm is between 65-80% of the Gross rent.

IF GST is payable it may be payable on the Margin scheme subject to your original purchase contract reflecting it was purchased this way. Normally there is no GST payable on Residential property however if the property was purchased using a Company structure as part of an overall business of renvoating and devleopment this will not be the case.

Hi gooseheadI think from reading your what you are trying to achive you are referring to a security substitution / portability of loans.Yes depending on the lender you certainly can but they be better ways around it.Obviously without further information it is difficult to give you a more detailed answer.

Hi gooseheadI think from reading your what you are trying to achive you are referring to a security substitution / portability of loans.Yes depending on the lender you certainly can but they be better ways around it.Obviously without further information it is difficult to give you a more detailed answer.

At the moment about 10 minutes.Last deal i did with them we had a call from their Credit dept within 8 hours saying that due to the fact they had increased their interest rates higher than the RBA official increase they had hardly received a deal and therefore was approved immediately.Only reason we had to use Westpac was the client had a fixed…[Read more]

Definately confused.CGT is based on the profit. Difference between the net sale price and the original purchase price plus stamp duty adjustment, renovation costs etc.Based on your figures above and ignoring sale costs etc you would pay CGT on $55K being $400K – $300K – $15K – $30K.Bit of a difference.

Simply any lender worth their salt wouldnt.Property can be in Joint names loan can be in joint names with only 1 income taken into consideration.There are lenders out there who dont care less if you are on probation.Sounds to me like your mortgage broker has got confused over the deal or maybe it is the first one he/she has done.Just tell him to…[Read more]

Must admit never heard of it on a Line of Credit with any lender we deal with.Usually it would be 85% + LMI.If in any doubt i would be using a separate lender.

Hi PlummerNo it is not a mistake many institutions do not like lending to Trust structures. It is all about understanding what they are doing.Get your Mortgage Broker to give you some additional options because you should be able to get the combination of a competitive rate of interest, low fees and flexibility under a Trust structure even with a…[Read more]

Slightly confused myself but at 85% LVR you would be able to normally capitalise the LMI.

I have completed over 180 wraps here in Qld over the past 14 years but wonder how you financed the deal to onsell in the current climate as no lender will knowingly lend where the property is being onsold by way of an instalment contract.We as a Company (First Home Owners Group Pty Ltd) had an arrangment with a couple of the major Banks however…[Read more]

Hi ZeaYes certainly i would look to have the first property in your name (subject to 101 points).Unsure whether you have an existing PPOR but if so just need to structure it correctly to ensure that you can keep on buying.Get your Mortgage Broker to explain to you the benefits of not cross collateralising the loans.

The Buyer (wrappee) is responsible for his / her Stamp Duty and it is payable on the Instalment Purchase price payable 30 days after the Contract becomes unconditional.Of course depending on the sale price and the status of the purchaser they maybe exempt if it is a First Home.