Would need further information to be able to make any meaningful suggestions.

Unlike the USA most loans through the retail banking network are not securitised in Oz.Certainly as Ben has pointed credit in the US is drying up. Wells Fargo raised the rate on a $425,000 loan from 6.78 to 8% overnight with a 20% downpayment. Nodoc, lodoc and zero down loans have disappeared completely with full qualification full doc loans now…[Read more]

Oh well Hutch is good aly isnt he.

There is no punchline !!If your broker isnt performing look in the yellow pages as they are dime a dozen some even have more than a years experience.

Why not just pay cash for the property and then worry about the financing after settlement.

I cannot see a problem with the information you have provided.

Dependant on the current lender is you may find that they will not do a construction loan as some nodoc / lodoc lenders will not.Also hard to comment without any specific information on what you currently have.

I am not Gold Coast based but have many clients all over SE Qld and hold a decent property portfolio myself so understand the needs of investors.Shoot me an email and I would be happy to offer some suggestions and assistance.

This so called crash has bought the All Ord's back to where it was in Feb 07.Hardly a ripple in the water. There is more to come but this can only be good news as it gives shorting opportunities on the way down and then buying  thereafter.

Your position shouldnt be too much of a problem dependant on what the LVR requirement is.

You wont be able to borrow too much against the security of the business unless it has a freehold security of some sort.Certainly with certain lenders you can use a residential property to raise funds for business purposes.

Yes good isnt it if you have been short for a fortnight.

Yes you should be able to do on a nodoc / lodoc bridging basis with the interest capitalised as long as the total LVR does not exceed 76%.By the way holding the property for 6 months will not illiminate the CGT.

The 10% discount Capital Gain rate is only applicable if the asset is held for 366 days otherwise it is also taxed at 15%.

Will the new house be a PPOR or a reno ?Can you show evidence of income to support the end loan.If so then it should be fairly straight forward.

100% investment loans are readily available.There is no credit scoring at all in Australia although a clear Veda Advantage report will be required.In all cases income verification is required.

Yes you are right Blue it is a standard Put & Call Deed however the explanation by Hutch was a little off and the facts not quiet correct in regards to costs depending on which State you are in.In Qld for example there is no stamp duty payable on the Option Contract at all.We use P & C Deeds for a lot of our developmments but unlikely to be…[Read more]

Wow what a sweeping statement Ask any settlement clerk (or conveyancer) in the country, what the Number 1 reason for settlement delays or postponements is…..and hands down they will tell you one of the settling parties are going through a broker. I have to say i totally disagree with you. In most cases it is the settlement departments of the len…[Read more]

Some lenders take 100% of the rent into consideration where they are not taking the property as security and calculate your repayments at the actual charged rate rather than using a sensitised rate.  This alone will increase your serviceability Big Time.

May seem like a good strategy if it was legal.Unfortunately you are unable to transfer residential property into your SMSF.Certainly you can buy a residential property in your Super Fund however you cannot transfer a property like you can a Commercial security or share portfolio so a sale will trigger CGT.