Hi ParraboyGood to hear they were useful. Must admit i have found them invalueable in doing my research on areas.You now where i am if you need another one done.

Hi SMSure i cant attach it to a private message so please shoot me an email and i can return the report to you.

I BenYes assume the purchase price was $100,000 and your costs came to $5000 then you would obtain a loan for $80,000 and the vendor would lend you $25,000 by way of 3nd mortgage.Course the problem comes if the Vendor has a bank loan of $80,000 or more. (even slightly less as he will have costs and possibly Taxes to pay)Secondly lenders wont allow…[Read more]

Hi ChrisIn answer:1) Yes equity is certainly an acceptable form of deposit so would not prohibit you from purchasing an investment property.2) Yes FHOG can be used for any purpose. If you want to pay it straight off your loan then nothing to stop you doing so.Issue maybe that most lenders now only go to a maximum of 90% lvr so will need a little…[Read more]

Hi BenCertainly possible but couple of issues:1) You will have to assume that the 20% – 30% vendor finance is not more than the mortgage owing on the property.2) You will need to find a lender in the current climate that will allow you to borrow the deposit.As long as the vendor will also fund your legal fees, stamp duty etc you will be fine.

You could try Residex their statistical information is very good..

Hi ShaneYes it is not a simple calculation for each lender.It is a sliding scale payment based on loan amount (Over $300K and then over $500K increments) the lvr who the mortgage insurer the lender is using (Gemworth have just announced a 20% increase in their mortgage insurance rates) and in some case whether the loan is interest only or P &…[Read more]

Hi BenRegretfully not. If an when you sell the PPOR and it is held in a Trust entity it becomes a Taxable asset for CGT purposes.

Duplicated

Hi ShaneFirstly you wont get more than 90% these days on a refinance so would need to pick the property / ies that has the most equity.LMI is a cost of investing and I dont see any problem in paying it if it means getting ahead with my investments. Fortunately i have very low gearing on my portoflio so am able to access equity with the need of LM…[Read more]

Tony great ambition mate and it can be done.I was lucky enough to retire for the first time at 39 and live of my property income (After nearly a year off decided i couldnt do nothing all day and now run a boutique mortgage brokerage and financial planning firm) from a mixture of wrap and rent income so it can be done but in the current climate…[Read more]

WazzNot Brissie but try Steve Hodgkinson who is a partner at the Gold Business Group at Southport.Steve has been my Accountant for 12 years.He acts for dozens of forum members also and really understands property and Trust structures.Contact details are 07 5532 2855.Tell him i sent you as most good Accountants are not taking on new clients

Hi CarlTerry has beaten me to it in doing the numbers.60% would be an available option but perhaps not so palatable for you both in tying up equity.

I am with Terry why would you go with the Base rate loan when you can go Interest only with the offset account.It is ot that the interest rate is that good.Wouldnt be making any extra loan repayments off the principal unless you intend to live in the property for ever and a day as redrawn funds may cause you a problem if the property ever becomes…[Read more]

I wont work in Oz.

From my experience to get the default set aside you need more than an excuse of just forgetting to make payment.If the notice was sent to the incorrect address or other genuine reasons you may have an arguement.Firms that offer the service charge around $1500 – $2000 per default so ot cheap.

Yes in fact Westpac will even go to 97% if you are an existing customer.

Hi JaneFirstly welcome to the forum and I hope you enjoy your time with us.Can i get you me to shoot me your email address so i can send you the report as i am unable to attach it to a private message.

Hi HonamTo correct a couple of misunderstandings:1) You could access 90% of the current property value fairly easily subject to the payment of mortgage insurance.2) If you intend to purchase a new PPOR next year then you do not want to pay down the current loan and I woul dbe switching it to an interest only loan with 100% offset account linked to…[Read more]

GlynnYou are correct appears to tick all the boxes. Lender i have in mind will ask for copies of everything but at the end of the day great product at the right rate of interest etc.Let me now if you are interested.