Not sure what rate you are on or the loan amoutn but most clients would get the $375 back several times over even with just one loan.

Hi MattSorry couldn't answer that one.I get it through my Financial Planning Aggregator.

MattTalking about of thousand a year if you are sponsored company which they discount otherwise i think it is $99 a report.

Hi NathanJust need to be a wee careful in Qld especially if you are not a Licensed Buyers Agent.The OFT will love to see you offering your unlicensed services.Great idea mate just need to make sure you dot all the i's and cross all the t's.

Not aware of any in CQ.

Still a lender or 2 who will do 85% lvr if all things are equal and will waive the LMI.

The IO payment is an interesting concept I'm very new to. Still have the 'old' thinking that I should eventually try to pay down the loan so I can eventually own the house outright. I'll run this by the broker and see what else he has to add.Unless he is investor orientated i bet he will have no idea or would have recommended this from day 1.You…[Read more]

Yes Interest only gives you far more flexibility as what may be your PPOR this year and possible next year may one day become an IP.Why box yourself into a Tax corner when you dont need to.

Gibbo has hit the nail on the head.Depending on the size of the unit will determine whether:1) It can be financed full stop 2) The lvr the lender will go to.

Not sure why your Broker has suggested Homeside (maybe i have an idea) but an NAB interest only loan with 100% offset account would be the way i would look to go.There is no actual interest payable on the offset account so nothing to declare as far as Tax time it merely reduces the interest payable by the same amount.

A License to occupy is probably more widely used in Qld that Rent to Buy as it avoid all of the Tenancy Legislation associated with RTBC.It is simply what is states. You hold a License to Occupy the property subject to repayment of a weekly / fortnightly amount.Interest is added to the agreed amount and repayments are deducted from this amount…[Read more]

oricayes hopefully you received them when i sent them back.

Hi BronteCertainly a few questions there.When selling one property in order to buy another (talking ppor here – and moving up the property ladder) how does the mechanics of the mortgage basically work? In essence if the loan is portable it is merely a matter of undertaking a new valuation on the subject property and the loan being transferred to…[Read more]

Loan would have to be set up correctly with a LOC against the current PPOR and then a separate standalone loan against the new IP.

Yes use a standard mortgage contract and register it as normal.There is no difference to a lender registering their charge.

Yes could be slightly complicated if you are purchasing using different entities.To me an offset account would make life a lot easier however with a Corporate Trustee not every lender will allow this.

Sounds like a case of your Broker cross collateralising the loans hence the LMI is so expensive. If the loans are separate then the LMI will be less.LMI is calculated on the overall lvr on a sliding scale based on the total loan amount. Over $500K the scale jumps.Think i would be rejigging the deal to make the numbers more acceptable. 

There is no legal requirement to be registered for GST if your Annual Turover is less than $75,000.It has nothing to do with your income more your turnover.Yes a lender would accept advance loan funds as acceptable deposit.

Yes as good as any.

Hi magicFirstly good to hear that you have started to think about your first property as there is nothing planning ahead.To be honest in the current climate i would ignore any online calculator as they simply are not realistic when it comes to Credit Approval. Rule of thumb would be to base your borrowing on around 5 x annual wage which is…[Read more]