I dont feel that Adelaide Bank have a more strigent lending criteria at all. If anything they are easier to deal with than the majors.

Do agree they have an excellent suite of products.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
New…[Read more]

Comes of pushing the reply button too quickly

Sorry Nico

Yes you are correct with your acronym.

Bare with me and I will try to explain succinctly and simply the difference between the Trusts… There are four possible ways to own investments:
• one name
• joint names
• company
• trust

The first two are problematic for a couple of rea…[Read more]

Hi Ni

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
New Shared Equity scheme has arrived – Email us for details.

One of the downsides with long term deposit bonds is that you will require assets equitang to upto 6 x the deposit bond amount in order to qualify.

For many individuals this is not achievable.

As Terry said if you tie the cash for that period of time you are likely to miss out on a lot of other deals that come across the…[Read more]

To be honest I wouldn’t be entering into a contract to purchase the land but rather a Call Option which will avoid the stamp duty issue (In most States).

The Option has the terms of the purchase contract contained within it although the purchasers name needs to be nominated.

This way you pay an Option Fee and when you ready to settle merely…[Read more]

Must admit i deal regularly with Anz / The Dragon and have never had problems with either of them.

I think it is a lot to do with relationships and I am lucky that i have good mates who work for each.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720…[Read more]

Hi Adam

Wow nothing like planning ahead and that is good.

If you intend to have your parents as a Director of the new Pty Ltd Company then their incomes will also be important as well as their current statement of position with regards to the assets and liabilities.

If you are doing it on your own then certainly your income will be important.…[Read more]

You MB must like pain and torture to be dealing with Colonial.

Some MB’s get an override commission from the CBA thats why they put their clients there but i think most MB’s on this forum would tell you to steer well clear especially if you wanted to have a smooth investing path when it comes to your future obrrowings.

The CBA love to X…[Read more]

The other posts have helped analyse the purchase costs in Qld but remember if the loan is not structured correctly then your loan costs could run in 4% of the purchase price if you include mortgage insurance.

Whilst loan costs are a deductible expense if you can avoid them or reduce them then that is certainly the way forward.

Cheers

Richard…[Read more]

Regretfully it is too late change the structure yo have for the sale of your current business but with effect from 1/7/2006 there are a few concessions available to small business owners.

The varying definatitions are too complex to post here but in essence you could sell the business and find the amount entirely CGT exempt if:

1) You are…[Read more]

Exactly right Simon they charge and receive a commission.

I hope they can sleep at night.

As mentioned several lenders in Oz offer an interest free debit card which also helps you in the process.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720…[Read more]

What you have described is rather rambling and i think you are a little confused but I know what you are suggesting and it can be done if set up correctly.

Alternative would be to purchase as Tenants in Common with a 80/20 split in the interests held 80% – HDT 20% you personally.

Cheers

Richard Taylor
Residential & Commercial Finance…[Read more]

Jebro

Sure feel free to shoot me an email if your MB exhausts his sources.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
New Shared Equity scheme has arrived – Email us for details.

Hi Jebro

Regretfully you wont find anything like that on a residential basis as any lender will want to assess the situation everytime there is an increase in the credit limit or a change in the securities held.

Certainly on a Commercial situation with a blanket loan then that is a different story.

With the portfolio loan products out there and…[Read more]

I have come across it when dealing with the US Banks for finance and needless to say it is a US expression.

It is a simplistic way of debt reduction using a line of credit and as Simon mentioned sold by Mortgage Brokers for $3K to give you the slick spiel and diagrams.

Using an interest free component on your home loan (A couple of Aussie…[Read more]

Hi Will

You say you are buying with other family members so i would have assumed a Unit Trust structure may have been more appropriate depending on the reasons for buying and the type of property you are going to acquire i.e negative or positive geared.

In relation to the State in which the Trust is establish this makes no difference at all.…[Read more]

Hopefully answered on other post.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
New Shared Equity scheme has arrived – Email us for details.

Hi Larson

Must admit got slightly confues along the way but think i certainly got the drift.

I am assuming that your Broker drew down the Line of Credit funds which gets him a trail commission. Unused Line of Credit dont earn you much other than respect from your clients.

I has a feeling he might be in it for a quid.

Dont get me wrong i think…[Read more]

Foundation – Think both Terry and I are well aware of the ATO cross referencing hence the recommendation to consider a Nodoc style loan where no income declaration is required whatsover.

Also now with many Lodoc declaration income is not required to be declared only confirmation that you can service the monthly repayments.

Cheers

Richard…[Read more]

Are you saying the bank will give him an interest only loan with an offset account? = YES

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
New Shared Equity scheme has arrived – Email us for details.