W4Life in the UK that is just it they cannot go direct with a lot of institutions. The same here with a few of the Nodoc lenders.One of the Big Banks scrapped its 0.7% discount on lodoc loans WEF today and the others will follow suite.No one said anything about charging 1% brokerage but when i first arrived in Australia we used to charge clients…[Read more]

G of MThink the VB have other issues……..

The simple way of working it out is to take your gross income and add to this the Gross rent you receive.Then deduct from this new income figure the interest for the year all property expenses and the Depreciation and Building Write off from your Quantity Surveryors report.Calculate the new tax payable on the lower income figure and the difference…[Read more]

As Kiwi has mentioned the additional $30,000 drawn out will not be tax deductible as it fails the ATO "Purpose test" but at least doing it that way and keeping the loans separate and not cross collateralised is the way forward.A solution would be to….. perhaps….  form a company/trust (entity) sell the home to the company/trust at market…[Read more]

FFBased on a Bond amount of $28000 and a term of 15 months max you are looking at a Fee of around $1338.00Let us now if we can help further.

Hi FFFirstly welcome to the forum and I hope you enjoy your time with us.In answer to your questions:1) There are only a couple of companies that offer Deposit Bonds over a 12 month period. If you want to give us details on the Deposit amount and the term required I can work out the premium for you but it probably that cheap.2) One requirement o…[Read more]

Hi MichaelIn a nutshell…..Do aussie banks do overseas deals now a days – NO.Certainly not from here. Their overseas counterpart may do but as far as I am aware non of the Australian Banks have a branch network in SA.

2 make that 3 quick observations:1) Why are you using a Company structure to purchase an investment property unless it is acting in the capacity of a Corporate Trustee.2) If this is the way you wish to do the deal why not use the equity and get the Company to take out the loan to a 100% plus costs. There are lenders who will allow this.3) You…[Read more]

CraigThere are a couple of ways to do this however i guess each party will want something different from the deal.Depending on how long you intend to hold the properties determine the type of structure you may wish to use however either a Discretionary or Unit Trust structure maybe a good starting point.Financing the deal will be a little…[Read more]

I think you have half hit the nail on the head when you say My mortgage broker is having trouble finding a lender because we have never done a subdivision before. The other half probably being that your mortgage broker has never done a GR loan.All things being equal and subject to the location of the property then funding the loan should be…[Read more]

Hi BMWPAYG Lodoc is available at 80% lvr at a rate of 9.55%.Westpac now verify your ABN & GST and require this to 2 years +

Assuming residential zoning standard block size and normal lodoc requirments are met then yes with a rate from around 10.75% upwards.

Terry yes slightly typing error their. Comes of typing when your tired. All night watching the Premier Leaugue and seeing Chelsea (wow) beat Man Utd doesnt make for ideal conditions to responding to questions.

No you can get a 80% lodoc quiet easily however like everything you need to plan.All major lenders require ABN & GST registration. For a recent ABN you will merely end up paying more for the product.If you are PAYG then PAYG lodoc maybe more appropriate.

Yes possible but whether your employer would be prepared to do that i doubt.Other consideration is who is the Trustee of the Trust. If it is a personal trustee /s then when you distribute the funds from the Trust at year end the benficiary will be taxed at the rate at  their own marginal rate. If all of the funds are distributed to your wife th…[Read more]

Yes SGB require 2 year ABN & GST registration and CBA 1 year ABN & GST.

BarneyNothing to stop you paying cash for a block of land using funds from your SMSF but be aware you are unable to do a geared construction loan under a SMSF due to the legislative restrictions. 

JosephThere are a couple but depending on where the security is located, zoning, loan amount, lvr and whether it is full status or lodoc will determine whether it can be done and at what rate.

Yes how non conforming does the loan need to be ?

TerryRams from around 3 weeks ago require ABN & GST registration for 2 years plus.