Terry is correct as usual.Might find some lenders get a little nervous these days and ask for Stat Dec or a letter from your Financial Planner advising you are aware of the risks.Your Broker should be able to guide you through the easiest path.

 Sorry MeganThis is clearly not true. You certainly have to declare it.I understand that you don't have to declare debt as your own if you have a company acting as trustee

Yes i agree Dan,  Richard Gear here.And Yes i can evidence both copies of registered Heron Todd White valuations (we use them for all of our Developments and have done so for 14 years) and copies of executed Contracts.Such evidence has been provided to the ASIC on a couple of ocassions.Oh and by the way you must be having a laugh. Sure the ATO…[Read more]

Terry has hit it on the head.In Qld there is no Duty charged on the option contract and a method we have used on dozens of properties.In saying all of this half the battle is finding a Vendor that will accept a Put & Call option over a standard purchase contract.

If the 3 year fixed rate your lender has quoted you is only 92 bps higher than the variable rate i would be looking to refinance elsewhere.Realistically the fixed rate would be nearer to 140 bps higher so sounds like you maybe paying over the odds on your IP's.Yes a lot harder and more expensive to refinance away a fixed rate loan.

Financing maybe an issue as on 5-10 blocks you probably wont get more than 65% of cost price.Unless you have good equity elsewhere or a good cash deposit you might just find yourself with a nice vacant block.

As Darren has mentioned a little more information first and we maybe able to assist.

Ok Karen appreciate the referal.Certainly will point her in the right direction.Hope all goes well with your own new arrival.

Hi IntouchFirst welcome to the forum and I hope you enjoy your time with us.When accessing equity in your property you need to ensure that you structure the loan correctly to avoid any issues down the track. There is no reason why the lender will require mortgage protection although one or two do try and encourage you to take out such a policy as…[Read more]

Repeated

Hi MarcustYes taking out a LOC against the PPOR is the desired structure. Sorry your post didnt make that very clear.For the next IP I personally would either increase the existing LOC or take out a new LOC for the new deposit and costs.Then take out the standalone loan secured against the new IP.I assume you are employed and not self employed. I…[Read more]

So are about another 5 lenders  some have easier Credit policies than others.Also LMI varies between lenders so certainly check on this before submitting the deal.

Hi MarcustFirstly welcome to the forum and I hope you enjoy your time with us.You mention words like redraw which gets me nervous before we start as loan structure is parramount when it comes to ensuring that you can keep moving forward. I am also concerned that you borrowed 100% + costs on your first IP and assume that you offered your PPOR as…[Read more]

Yes renting the property out and then in turn renting yourself is an option.Remember however that the deductions can only be claimed in the same percentage as the ownership so in this case 50/50.If the property is fairly new you might get some good non cash deductions by the way of Depreciation or Building Write off.Convert the existing loan to a…[Read more]

Financed 101 properties in Beenleigh and Eagleby over the last 12 years or so and can remember when you could buy a nice house in Beenleigh for 65K. Oh those were the good old days.If she has any address in mind and she wants a Residex report on the particular property be happy to rustle up one for her..

If the property is purchases using a Instalment Warrant then Yes your SMSF can provide the deposit for the property.Maximum LVR is 80% however those lenders that offer such a facility prefer to keep it to around 70%.Course a few considerations before jumping in.

Depending on the numbers you may even want to consider selling the property into Trust and borrowing 100% of the valuation.This way the entire interest on the new investment loan becomes Tax deductible and the balance less the amount currently owing under the current mortgage can be used as deposit on your new PPOR.Of course there are a couple of…[Read more]

Yes there are adviser and advisers.Many have to recommend investment products with nice fat commissions attached as they normally earn nothing from recommending a property and see property as the investment evil. Personally as an adviser i go the other way and see property as the backbone to every clients portfolio.That is not say that if i felt…[Read more]

Anything can be done but as wealth mentioned question is why would you.Considerations include Stamp Duty, Land tax, loss of CGT exemption etc etc.To save a dollar here or there may end up costing you a lot in the first place.

Hi AlexThink you might be slightly confused as it is not a matter of going halves.Each party will be jointly and severably liable for the entire loan unless the Guarantors have limited liability.As has been mentioned in answer to your other post as you buying in personal names you will be liable for the capital gain apportioned to how the property…[Read more]