Dont listen to your friend there i no such thing.

stranIf you are looking at buying the place and then moving out to another PPOR in a few years time yet still retaining the current property you would be better off borrowing 100% of the purchase price and deposit the balance of your savings into a 100% offset A/c.When you move out in a few years time you can use the funds in the offset account as…[Read more]

I guess if you are looking for a one off no frills type loan and dont mind waiting online to talk to someone who has zero in the way of customer service skills then these organisations are fine. Only thing i would say is they will not be your lender when you wish to move upwards with your portfolio and start investing seriously as the range of…[Read more]

Even if James wife had never purchased a property before the fact that she is James spouse means that she will not qualify for  the FHOG on any future property.Transfer of ownership in 3 years time brings a couple of issues:1) CGT Trigger on original cost base. Transfer value would need to be at fair market value.2) In certain States (Qld for…[Read more]

Hi KA010Wow before you rush in and talk to your lender i think you should consult your mortgage broker as you are right most lenders will not:1) Allow the property to be revalued within a 12 month period.2) Dependant on who the lender is will require you to cover the valuation cost.3) May not lend for business venture purposes.Your MB will be able…[Read more]

kmbYes especially when his 5 previous posts all are the same.Hopefully admin will delete them.

Dale retired recently and is no longer with the practise.

Hi GladysThis day and age with the electronic revolution known as online lending submission your Mortgage Broker can be based anywhere in the Country. I for one have many many clients inter state and through the world all of whom i liase with by email.This also goes for your Accountant. A good property Accountant is hard to find so i have r…[Read more]

Good effort malquisce.4 post and 4 mentions of the 21st century academy.You wouldn't be Jamie McKintyre in disguise trying to peddle your product.Love to know what JM could teach the world on Call Options.

Have you considered wrapping it.From what you state it may not be in a suitable condition as far as Bank is concerned for mortgage purposes.I am sure you would find purchasers who are prepared to take it over at a realistic price and then add value by doing the work (as long as it is not structural or work requiring a Building License and Council…[Read more]

Hi MadThe formula your existing MB has put forward is simple debt reduction strategy and normal practice in advising clients.My suggestion would be 2 fold:1) Under the Mac Bank securitised facility the loans have to be X collateralised.  You could easily have a similar arrangement with a other lender and keep all of the loans separate.2) The rate…[Read more]

Depending on which State you are in i dont beleive you will be able to register as an "Owner Builder" in order to renovate a block of units.More importantly have you considered how you will finance it?Property development loans are a lot more rigorous in assessment than the mum or dad reno. You will probably need around 30% of hard costs and…[Read more]

Where is the property located ?

The calculation given needs modification because the Cost Base needs to be reduced by the amount claimed during the term of ownership for items such as Building Write off.The Taxable income then needs to be apportioned between the ownership i.e Joint Tenants or Tenants in Common.Hence the need for planning the sale to ensure that the Gain is added…[Read more]

You will not find any of the high street Banks offer you 90% LVR without LMI (85% is possible) however it is achievable in the market place.In saying this those lenders that offer such a product charge either a higher rate of interest of a higher application fee.

Ok Freedom look forward to answering it for you.

Terry is correct about the double deduction available.Hence if you are trade using a Company structure and are employee of that Company then you will be able to be both employer and employee.

SueYou probably have one of the old step down rate products. Still a bit expensive in todays market but serves a purpose.

Must one of the few Financial Planners who does not like the product !!

The majority of lodoc loans over 60% LVR are mortgage insured including Macquarie Bank.Whilst many of the retails lenders pass on the premium the interest rate is lower. Securitised lenders such as Mac Bank have little alternative but to pay it and charge it by way of a higher interest rate.The global limit they offer is a full x collateralised…[Read more]