Dont necessarily agree.I could guarantee Suncorp would not do the deal but if everything else is satisfactory then i believe 90% lvr would be acheiveable (95% not out of the question but will depend on a few factors).

Also NAB Terry for their 4 Star Brokers.

Another consideration is of course financing the deal.It is all well and good having an Accountant establish a wonderful structure for you but in this current climate many lenders do not offer the same interest rate or application fees discounts (or even do not accept applications full stop in certain cases) for certain structures.A good read…[Read more]

Hi TrentAnd there is still a lender who offers 95% lvr with no genuine savings albeit at a slightly increase application fee.Interest rate however is modest.

Sounds like a touch of CBA itis.As the boys have pointed out NO the interest will not be deductible as it fails the "Purpose Test".Also watch out with the MISA Account as it is not a fully transactional offset and may prove useless if you have regular transactions going in an out of the account through the construction phase.

Jaffa just tell them you intend to start using it shortly and they should hold off the cancellation.

Hi EmmaHave to slightly disagree with Ajay in relation to his statement The most advantagious approach is usually to have the property in your own name. Trusts and companies are mostly useful for asset protection reasons. There are many reasons why investors buy property in a variety of entities each depending on their own circumstances as well as…[Read more]

Very good Banjo really enjoyed the laugh.

Hi AshkFirstly welcome to the forum and I hope you enjoy your time with us.You would be suprised how many horrow strories i hear from clients who have been to financial adviser, charged a fortune and then been recommended not to buy a property but to put the money into managed funds etc. As a Financial Planner we must be one of the only firms t…[Read more]

Very simple you wont be eligble for the FHOG if you buy the property in Trust.

Hi againI think the LVR would need to be down to around 60% before you got a better discount.

For which State are you referring to ?

Mal & JeanHas the Vendor provided you with a copy of his Installment Contract yet. If not i would wait until he has done so first so you can make sure it is UCCC compliant. Depending on what the purchase contract looks like i have someone who would act on your behalf in the deal.

No wouldnt need to be permanent but would need some continuity in employment for  casual.

Without being funny at a 78% lvr you are unlikely to get any lender offer much more than the Bank West 0.9% discount.In the good old days we regularly obtained 1-1.2% discount for our bigger clients however now a days 0.9% is Max.Lenders dont feel they need to offer anything else as the competition has disappeared.Course if all depends on what the…[Read more]

Sorry but this is clearly not the case.putting more into the loan whenever possible, which really reduces repayments and the loan.In most cases your repayments stay the same and the amount of interest reduces. Of course it works exactly the same way as an offset account. Difference being is that once you have paid the loan down any funds redrawn…[Read more]

Might want to check out the in's and outs of the Managed Investment Act before you start launching that advertising.Many a Company has come a cropper in SE Qld by falling fowl of such legislation.

Unfortunately you will not get mortgage insurance on the loan so that means the lvr will be less than 80%.Secondly the other issue you will have with your average lender will not allow multiple dwellings on 1 Title so you are then in the area of development financiers whose criteria is a lot more stringent.In essence you are more likely to be…[Read more]

To be honest i fail to see why you have an opposition to use a Line of credit or an offset account especially given the interest savings such products bring with them.Remember unscrambling a cross collateralised loan is not as easy as you thing especially in the current climate.The fact you want to use as much of your equity as possible in your ow…[Read more]

KurtI agree most longer term investors feel we are entering a very good time to buy.