PeteNot exactly sure i understand the last point but i will try and answer it.Her loan to you would be considered an Asset and the repayments income however the LOC would be considered a liability and hence the credit limit taken into play when calculating her expenditure.

Sounds like NZ is a wee bit behind the times.We have been actively doing this in Qld for 12 years now.

CarolynFirstly welcome to the River City.There is the SS Forum meeting in Salisbury but nothing i am aware of where someone wants to share information and not sell you something.

Hi PeteNot so much for protection for each of you but more to prove to the ATO that the agreement is in place.I use a blank Mortgage Form 1 document here in Qld but each State is different.Just ask your Solicitor for a blank Mortgage and complete the bits yourself.

Hi ImulgiWont confuse you even further with life, TPI / Trauma / Keyman and a few other insurances.If you purchase a freehold IP then probably all you will need is Landlord's insurance. If the property is a Strata Title property i.e a unit in the block  then the BC will insure the building however some lenders do require you take out an indi…[Read more]

TMZWhat type of Trust are you using and where will you be buying i.e Metro / regional.Many lenders no lend to certain Trusts.Max exposure for LMI varies from lender to lender.

TMZI think financing an IP loan at 100% + days have unfortunately gone unless you cross collateralise the existing security and offer this to the Bank as well.I would however offer caution to this statement as it will come back to bite you in the end.Also remember LMI will have a limit as to the cover they will provide you so this will also limit…[Read more]

Hi PeteATO would have no issue but to protect you both i would document it properly.You could even get a Mortgage drawn up and just elect not to lodge or register it.

Hi TriggermanWelcome to the forum and i hope you enjoy your time with us.Couple of quick answers:1. If I convert to IO plus offset, can I claim the interest? Yes you can on the balance.2. What fees are involved to convert my loan?  This will depend on who your lender is and the terms of the contract3. Would I be paying LMI again? No but might…[Read more]

Well in respect of a cash outlay it would be – geared.$1700 / month (which i assume is P & I so IO would be less) repayment V $310 / week or $1342 / month Gross (net of Managing Agents costs would be slightly less).However without knowing the amount you can claim from a QS report in respect of Depreciation, BWO & your initial loan costs etc it is…[Read more]

WWWelcome to the forum. A Company Title Unit involves the ownership of shares in a company set up exclusively for the purpose of ownership of a specified property whereby the owner of shares in the company has right to occupy (or lease to a tenant) a specified unit or allotment with the overall property. Holders of company titles shares to not…[Read more]

Hi I SFirstly welcome to the forum and I hope you enjoy your time with us.My 10 year old loves spongebob so i appreciate your Avatar.Whilst i dont intend to comment on either of the properties in regards to the securities themselves as only you know which one is more suited for you and the family I can certainly comment on the structure and…[Read more]

Hi RacheThink we have made contact.

I asked the commonwealth bank about how much expected rental income they take into consideration when calculating serviceability, they said 80%, does this vary from bank to bank? YESDoes anyone have an idea on figures for "fixed living" expenses from banks might be for a couple with no children?Most lenders use the Henderson Poverty Scale so for 2…[Read more]

Pete> 80% LVR will normally require LMI and neither of the big mortgage insurers will provide cover to a Non resident.There is nothing to stop your partner to lend you the money from her LOC at the same rate as she is being charged and then both of you can claim the appropriate deduction. You can then refinance if and when you have a…[Read more]

GOMI am with you.

A new provider of the same information was launched a couple of weeks ago although is considerably cheaper. There name escapes me at the moment but i will post it as soon as i remember.Might be worth checking out.

AngelaBefore you jump into the lodoc market dont give up on a full doc loan.With the anticpated rental income we wouldnt be a mile away.Drop me another email and I can point you in the right direction.

A Deposit Bond is a guarantee provided by an Insurance that in the event that you do not settle the Vendor wil receive his deposit (usually 10% of the purchase price). You pay a premium for the Bond and it is held by the Vendor until settlement.I wouldnt touch RHG either but wonder how he is going to get you a 100% + loan without doing so as RHG…[Read more]

ABCWhat night is the program being aired.