Hi KeikoMight want to re-ask that question in a weeks time or so.With a 1% RBA cut in official interest rates on Tuesday many lenders will change their pricing over the next week or so.Commercial lodoc rates havent fallen that much to be honest despite the numorous recent rate reductions.

TerryNo nothing is exempt in Qld i assure you lol.

Hi startI wont comment on the project at this stage as I am still in the UK for another day or so and under 12 inches of snow the thought of the warmth of Port Douglass has made me quet envious. Cant wait to get back to Brissie.Couple of points worth noting:1) If the purchase price includes a furniture package it is very unlikely that your lender…[Read more]

I am with you Terry still trying to figure out what Nancy was selling ?

maybe one response is enough.

Guess it all depends if you want someone to take your money of you recommend some cross collateralised line of credit loan and then point you in the direction of an overpriced property.Sorry but i have too many ex Destiny clients that have been lead up the garden path with strategies that were inappropriate for their circumstances and had to spend…[Read more]

I agree with Terry.It is not the issue obtaining 100% of the purchase price but the associated costs that is the issue.Even with an exemption on the stamp duty the loan costs are the ones you will have an issue with.Remember 100% loan does not mean a 100% loan.

Hi D

Yes Stamp Duty will be payable on the portion being purchased and potentially Capital Gains Tax on the increased value.

Just out of curiousity what were the Tax changes which is forcing your hand here ?

Hi DYes Stamp Duty wil be payable on the portion being purchased and potentialy Capital Gains Tax on the increased value.Just out of curiousity what were the Tax changes which is forcing your hand here ?

Yes a considerable difference.A Commercial loan cannot be mortgage insured so means you would be limited at best to an 80% LVR.In todays climate this is more likely to be back to somewhere around 65-70%.As Terry has indicated it may well be that depending on the size of the apartment you will again be limited to a similar LVR as you would with a…[Read more]

Yes a considerable difference.A Commercial loan cannot be mortgage insured so means you would be limited at best to an 80% LVR.In todays climate this is more likely to be back to somewhere around 65-70%.As Terry has indicated it may well be that depending on the size of the apartment you will again be limited to a similar LVR as you would with a…[Read more]

JoeI now Nambour well as my daughter was born at the Hospital there some 15 years ago.Regretfully i cant recommend a suitable agent sorry. Brissie would have been a different kettle of fish. 

No Australian lender wil take overseas property as security. If you lived in Vietnam you maybe able to get a loan with Anz Vietnam.Nothing to stop you taking out a line of credit on your Australian security and using the funds to buy overseas. Fraut with problems but doable.

JosephWhere in Qld is it ?

Did you or your Broker not undertake a private valuation before proceeding to Contract f not i think you ave been badly advised.Would never say to a client in the current market to go unconditional purely on a pre-approval especially from the CBA who are notorious in down valuaing their properties to redce the LVR's.Also find the CBA a strange…[Read more]

Just be careful as many lenders require that all Adult beneficiaries (THATS right beneficiaries) Guarantee the loan.Your mortgage broker should be able to recomend lenders that have less onerous requirements and costs when it comes to Trust structures.

Hi thereJust because the finance has been approved at a lower figure than the initial purchase price does not mean you brother has to take it up and settle on the property. Normaly the finance needs to be approved on Terms acceptable to the Purchaser whereas in this case this was clearly not the case.Normally within the letter of offer the terms…[Read more]

Hans

Yes buying an invesment property first does not preclude you from qualifying for the FHOG down the track when you come to buy your own PPOR assuming all other conditions of the Grant are met.

Of course if you go to Contract on your PPOR after 1 July 2009 then the Grant could be back to $7000.

Hans Yes buying an invesment property first does not preclude you from qualifying for the FHOG down the track when you come to buy your own PPOR assuming all other conditions of the Grant are met.Of course if you go to Contract on your PPOR after 1 July 2009 then the Grant could be back to $7000.

FreeCouple of points:Many clients rush in and we set up a Discretionary Family Trust with a Corporate Trustee on the basis that they intend to buy +cashflow properties.Then they decide that the property they are looking at is in fact negatively geared and they want to be able to claim the negatove gearing on a monthly basis. They consider a Hybrid…[Read more]