BethThat is a hard one to predict. With a fixed rate circa 6.99% you can sleep at night but could kick yourself if we see considerable fall in the VR.To me a balance between the too at least puts a lid on your monthly expenditure.Bigger issue will be whether the mortgage insurers will accept the security not the Bank.

Sorry i was not suggesting that you would not get the FHOG merely pointing out the potential issues.From the FHOG Addendum:Is the purchase price for the home less than the market value of the home? Yes / NoIf you have answered Yes to any of the questions or if there is an arrangement which has the sole or main purpose to obtain the grant rather…[Read more]

Hi NY Firstly welcome to the forum and i hope you enjoy your time with us.Whilst i dont want to put a dampner on your investing ideas I would strongly suggest that you think very carefull about investing with friends or relatives as often what seems like a good idea now isnt necessarily everyones cup of tea down the track.If you invest with other…[Read more]

Hi MikeCouple of issues i can see here.Not sure which State you are in but most of the Grant applications have a question which goes something along the lines of "Are you purchasing the property at a reduced price or below market value from a relative "Secondly if the Title remains in her name then you are unable to borrow against it.Subject to…[Read more]

Totally agree with you Terry.How the landscape has changed over the last 6 months. Imagine what the next 6 will look like.Bit like when i first started out in the 80's with the risk V rate prefice.

Irrespective of whether you save money or not and in my opinion that is debatable one consideration is how you would finance the deal.Lenders these days are over enamoured with Owner Builders so you would need to ensure you have a decent deposit or plenty of equity.

SSThe approved credit card under the package is $5000 however you can change once the loan has settled.The annual fee is $340 but when you consider the normal application / valuation / bank legal fees are $600 you almost get 2 years worth saving immediately. In addition, when you add the monthly fee you are paying under Money Saver and the upto…[Read more]

Helen you are correct the Post is fairly self explantory however the purpose of the forum is not to merely jump on board and sell you wares to all and sundry but to provide a platform of information sharing and eductaion to like minded property investors.If you and your fellow posters wish to merely promote your own website or property sales then…[Read more]

SSThe Anz Money Saver is a discountinued product and has been replaced by the Simplicity loan which certain has a place in the market.If you looked at the Breakfree package and took the variable rate loan then you would receive a discount dependant on the loan size of upto 0.7% and you could link the offset account to this. Your next PPOR…[Read more]

Firstly you wont get a lender provide that and secondly the answer is NO.

Hi againNo i would switch theP & I loan  to an interest only loan with a 100% offset account and pay as much as you can into the offset account.Once you buy the new PPOR and rent the place out switch the offset account to the new loan as the interest will not be Tax deductible. Also if you redraw the available funds in the loan the interest will…[Read more]

I am with V8.If your current employment is not subject to a probation period there is no reason why you are unable to obtain a 95% LVR on the purchase.Might have to prove the assets that you have but should be all ok.The 95% Lodoc style loan went up in smoke about a year ago.Now anything over 80% will cost you an arm and a leg.

Terry may not now anyone but i can recommend my Accountant who is Steve Hodgkinson a partner with the Gold Business Group at Southport.Steve is an expert on property structures and can be contacted on 5532 2855.I have referred him to literally dozens of forum members over the years and they have always been extremely impressed with his service and…[Read more]

ChristianI own 1 or 2 properties in the Brisbane and SE area so feel free to drop me an email anytime and hopefully can point you in the right direction.

As long as the property is not your principal place of residence and is treated as an investment property (and all other FHOG criteria have been met) you should still be able to still qualify for the Grant when you purchase your PPOR.

As long as the property is not your principal place of residence and is treated as an investment property (and all other FHOG criteria have been met) you should still be able to still qualify for the Grant when you purchase your PPOR.

This is a difficult question to answer without knowing all the facts and what you are trying to achieve in the long term.Unfortunately the cost of raising capital for organisations such as RHG is higher and therefore unlikely they will ever be that competitive in the near term.Also the answer will vary depending on what you want the funds for i.e…[Read more]

GOMThis will vary from State to State.Yes they are expensive to establish and maintain and thats why the likes of C & N like them.As i mentioned before a good property accountant can do the same thing but for half the cost. Most good ones dont have the need to attend the Property Expo as they have too many clients as it is. 

Cool Sam..,. I like to consider myself a Finance Professional.

Yes but only in the proportion of how the Units are held.