Approval in 14 days is pretty good at the moment.Approval in 7 days is out of the question.As Terry mentioned just apply for an extension.

Sorry who are these people you have referred to ?namely all those people I've just referred to

SCYou can package it up anyway up like but the bottow line is the interest is not deductable so therefore has very little benefit.

If the property is sold (whether it is owned personally or in Trust) and a contribution is made into Superanuation then the Contribution (Subject to not exceeding the maximum contributions per year) can be offset against any Capital Gain.I.e You make a Capital Gain of $50K and $50K is Contributed into a SMSF that year.The Contribution into your…[Read more]

Unless you have $30 in cash you will not be able to fund it.

Walk away and start again.If the property has that many building issues any potential buyer will come back with the same problems highlighted when they undergo their Building Inspection.Sounds too me like there are too many issues to  be fixed overnight and very unikely that the Vendor will have any interest in repairing the work other than on the cheap.

Hi VidyThis is not the case my friendIf you plan to invest in multiple IP then it would be wise to go for IO since it can give you more borrowing capacity. as lenders work out your serviceability based on a P & I repayment using their assessment rate rather than the actual interest rate being charged.

Robert Yes it is probably correct and likely to be leased to a mining company, employee or similar.What you need to do is to see if and when the lease expires what is the likely rent you could expect to receive in the open market. If demand is high in the area then there is no reason why you couldnt get that much again.Just make sure that the…[Read more]

Hi MargaretNo an offset account is a on call savings account linked to the mortgage (albeit separate) where the investor or home owner can deposit funds as per a normal bank account.The difference being is that instead of receiving interest on the funds and having to pay Tax on the amount the Gross interest that would have been paid (on the basis…[Read more]

Jaffa might want to recheck those posts.It was 27 posts as at this morning without a single post of constructive advice or debate.

Heh Wayne You are allowed to contribute to the forum as well.27 posts and 24 of them telling the forum how imformative you found the post followed by a 7 line profile tage is not in the spirit of the forum.

Ben I agree the establisment costs vary considerably but i do a fair amount with NAB and the they do this product through their Commecial lending dept hence the attractive rate.Westpac & SGB are way over the top and you are right up in the high 9's which make it totally unattractive.

nhb – A 100% offset account gives mitchell the same benefit but also preserves the tax deductability.Making principal reductions looses the Tax benefit forever. 

WayneWithout being funny. Is it really necessary to have every single link page of your website as part of your signature profile.I am sure the company name @ dot au you would be sufficient for people on the forum to find you if they want to.

I am with Terry.An interest only loan with 100% offset account gives you both choice and flexibility.If you still feel the same way in 5 years time and personal circumstances have not changed whereby you now have some non deductible debt you can always pay off a lump sum from the offset account.

Jill Are you sure it is a Lease Option Contract you are after not a Installment Contract ?

JsawtellI think the present time is a wonderful time in the market to get back into wrapping.I have run a Vendor Finance Company here in Qld since 1996 which is the largest provider or Vendor Finance in Qld.The lending market has changed dramatically with many lenders tightenight their criteria so the type of client you attract now is totally…[Read more]

Hi IceSounds to me like a total mess your Broker has got you into.Remember if you rent your current PPOR then you are only able to claim the interest on the balance and not the amount post redraw or refinance. The interest paid will only be deductible at the highest marginal rate that you pay tax according to the way in which the property is…[Read more]

Anthony or if you prefer to keep in the open forum post some rough numbers and we can provide you with a borrowing capacity after assessing all lenders not just one. 

CarlinWrapping is illegal but not Lease Options. Anyway dont have to wrap in your own State as the FHOG payment and timing is different in each State and Territory.