I am assuming you are referring to a Unit or HDT rather than DFT.The simple answer is NO when the property is already owned by you personally.I think your understanding of how a loan in regards to a Trust works is mistaken as you cannot merely change the name on the loan into Trust unless the property is sold to the Trust which may trigger both a…[Read more]

Your standard banking lender will not want to touch it if it is a short term loan however there are specialist lenders who do nothing else but this sort of deal.Remember in most cases as they do not ask for any income evidence and merely rely on the valuation and your sale contract your LVR will be limited to circa 80% max and your annualised rate…[Read more]

I must be a bit slow.Why would you subdivide into 400 / 500 metres first rather than just straight into 450 / 450.If you mean if you buy it as 400 / 500 first up and want to change then YES you can subject to the local authority requirements.

Hi HowardIn answer to your first question it is a simple NO.If either party is ineligible for the FHOG then that person cannot be a party to the Title.With regards to your 2nd question i think you are asking if you receive an approval to subdivide the property can you at a later date change the configuration on the lot sizes. Answer is Yes if the…[Read more]

Hi KenzelAssuming you could find a lender to agree to allow a 100% refinance then Yes you could go upto $300K and draw out the available equity.In saying this remember that the interest charged on the loan would not be tax deductible unless the funds drawn down where used to generate an income or for investment.You would want to make sure that the…[Read more]

Grow up Benny this is the real world.The forum is here to share information with others and for help and guidance and some times that means we get business from it. In saying this having been a member for nearly 8 years and with over 3800 posts  i think i have provided enough free information to warrant the odd private email or not requesting I a…[Read more]

SyphanxI assume the loan a small unsecured loan with undoubtedly a high rate of interest.With your funds you are probably only getting around 5-6% per annum for such a small amount invested. Payout the loan as quick as you can and save yourself some interest.Obviously usual caveats apply if the interest is tax deductible or some other factor you h…[Read more]

GOMYou have to love them dont you………..they are everywhere.

Personally I would not sell an appreciating asset (Albeit not increasing at the moment).Have you considered switching the loan to an interest only loan and renting the property out. You would be able to claim not only the interest / rent shortfall as a deductible expense but dependant on the age of the building would also be able to claim an a…[Read more]

Thanks Chelsea just responded to your email.

Shoot me an email and would be happy to assist you.

A lodoc loan is aimed specifically at your circumstances where your Tax returns are merely not available.Obviously your Accountant is required to reflect a true and accurate tax summary of your business and whilst i understand you may receive a lot of cash payments this can be included in your income.A family equity loan maybe available subject to…[Read more]

A couple of points to bear in mind:1) With a commercial style loan you will not get more than 75-80% LVR on the sort of security you are looking at.2) Depending on your other income and expenses you will struggling to show serviceability on $65K per anum.3) Going lodoc / nodoc is an option if your accounts are not ready when you make the…[Read more]

Wow that cut and paste didnt work very well !!!!

POS·         No account monthly keeping fees  –·         Yes this can be achieved. ·         Premier Advantage Package with .8% off the loans ·         Unless the amount is > $1M + unlikely in the present climate. ·         100% offset account on my Loans against my PPOR & IP is this okay with the IP? ·         Yes but you wouldn’t have 1 on each a…[Read more]

Nice opening post maica.Good to see you join 30 june and then post a recommendation on a company selling property.Are you employee or the owner of the company ?

Must admit i have never dealt with a lender that will not disclose the valuation figure.I can understand that they may not give you a copy of the valuation (Some lenders however do) however there is absolutely no reason why they wouldnt tell you the figure.In most cases you can work it out even if they dont tell.Get your mortgage broker to find…[Read more]

Very susscintly put Debden……wholeheartedly agree.

AndrewFor the purposes of what you are tyring to achieve a Discetionary Family Trust maybe the way to go.With a Pty Ltd Company the vehicle will be assessed to deem whether it is land rich and if so transferring the shares to someone else will incur stamp duty on the assessed valuation of the asset.A DFT should be the way to go with the children…[Read more]

Couldn't agree with you more G o M.At least National legislation will clean up the Mortgage Broking industry and get rid of a load of cowboys.Guess it is a start.