pierswThe holding date is not the important date for CGT calculation it is the respective Contract dates which are taken into consideration.

Hi MartaFirstly welcome to the forum and I hope you enjoy your time with us.First question: To purchase this property it will be in my name right? I can not at this stage purchase with a trust as I am a first home buyer?A) Would always suggest to every client that you take advantage of the concessional Stamp Duty rates and FHOG on at least 1…[Read more]

MisterA caveat loan can be from anything from 30 days to a year depending on the rest of the information, lvr and proposed end take out solution.A rate or terms are almost impossible to quote as you havent given any information at all. Caveat lenders still do due dilligence and want to ensure their security is protected.

Hi JasandlivUnfortunately the 2 requirements are miles apart and you certainly wont get development finance done through a Pro Pack unless it is put together properly.Without further information it is difficult to give you an proper appraisal.

Ok i would registering one this morning then.

Hi PgFirstly welcome to the forum and I hope you enjoy your time with us.OK agree with your MB that you should look to secure a LOC or interest only loan to cover the 20% deposit plus acqusition costs against your PPOR however you have a problem with One Direct. They were the online lender of Anz and are no longer taking new business.You would be…[Read more]

Thats NAB for you and their ex branch staff doing the valuation rather than a Licensed Valuer.Sometimes can work for you and sometimes against you.

Would only accept if the valuer was on their panel and in a format acceptable to the Bank.

Personally I would be looking to set up a flexible investment line of credit now over your existing securities and then as Terry has mentioned you would be able to get upto 80% lvr with a 1 Day ABN.Couple of things to bear in mind.1) Dont name your Company / Trust "XYZ Property Renovators Pty Ltd" or " The Smith Property Developer Trust" or have…[Read more]

All depends on the lvr and the available equity you have in other properties.

Hi NewbySorry wasnt having a go at you at all had just answered the same question about a dozen times so thought it was easier for you read some past comments.Income is important but deposit and equity are equally so.  On the income side you will also receive rent when you purchase an investment property so this helps increase your borrowing c…[Read more]

Hi RaeI think the crux of your question is can you finance the deal within your Trust without evidence of Tax returns and P & L Accounts.Simple answer is still YES subject to a few conditions.Some lenders / mortgage insurers require evidence of your last 2 Business Activity Statements and 6 months Bank trading statements others require merely a…[Read more]

Hi newbyWow Steve new book must have been popular this Xmas as this has been the most asked question on the forum over the last 8 weeks.Simple answer is NO forming a new Trust does not increase your serviceability one bit.Do a search on the subject and you will see the various comments.

Certain lenders i agree Wealth.   See my comment the previous day about RAMS big brother.

Rosemary might want to do seach on this topic as it was discussed some months ago.

One in the same YI now.

Remember the interest on the new loan will not be Tax deductible in the main (with the exception of anything you can claim for running your own business from part of the house and then you may not want to) so the interest on the entire loan will need to come from after tax dollars.Have you crunched the numbers to see whether it is viable to sell…[Read more]

Just remember you need to make sure you have funds put aside to cover the GCT when it becomes payable.

I dont think you can switch to IO with ING during a fixed rate period.

Used to know one of their guys called Peter Ludke who was a great fellow.Not sure if he is still there.