Hi HT

This is the most commonly asked question we get from our clients and the simple answer is Yes / No.

It the normal course of events then then the answer is NO as the ATO definition of deductibility must pass the “Purpose Test” and the funds clearly are to be used to purchase a PPOR.

In saying this structured correctly and regretfully with…[Read more]

Each person has a different reason for buying in a separate entity whether it be asset protection or tax planning.

There is no right or wrong answer as these structures are taylored to meet your requirements.

More information would be need to provide a justified answer.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed…[Read more]

Thanks Kris & Amanda for the words of praise.

You are so right electonic communication has a lot to answer.

If you tell me what you are trying to achieve cathy would be happy to help.

Cheers

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

With a traditional lender they will certainly take the share portfolio and the IP but no chance with the other.

That is more a private loan asset.

What you have certainly would be enough to proceed with your PPOR.

Cheers

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

Hi LC

Yes to both questions.

Dependant on the stock you are holding in your share portfolio you would be able to margin loan to a level of between 70-80% although the rate maybe slightly higher than a good lodoc loan secured against your IP.

Be careful not to use the redraw facility on your current loan but try and establish a separate LOC or…[Read more]

Its Richard by the way. Marc is the better looking one of the 2 of us.

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.

I agree with Marc to sell all of the properties and then rebuild your portfoli could be financial suiside given the CGT and stamp duty costs.

If you want to upgrade and assuming the loans are not all cross collalteralised (Cringe at the thought they maybe) why not consider a shared equity style loan.

You could upgrade the PPOR to a more…[Read more]

Dave

No the Bank will take a first mortgage equivalent to 20% (plus costs where borrowed) of the purchase price against your fathers property.

If he sells the property then you will need to either repay the loan or provide the Bank with altenative property security. The settlements will need to be simulataneous.

Cheers

Richard…[Read more]

Dave

A bridging loan with capitalised interest maybe the way to go for him as he could make no repayments and then repay the loan out of the net sales proceeds.

He could roll the interest upto 12 month.

In saying all this a 25 year standard loan would certainly be available to him.

Cheers

Richard Taylor
Residential & Commercial Finance…[Read more]

What sort of Trust ?

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.

Yes sounds like the way to go.

Any saving your lender offers at no cost is worth it.

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.

Just out of curiousity how long have you worked for them ?

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.

Just out of curiousity how long have you worked for them ?

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.

Brad

I am based in Chapel Hill but was in Nundah this afternoon.

Feel free to give me a call in the morning and I will certainly try and help you.

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…[Read more]

Tracka

You could always sell the property to a Trust and use the funds raised to pay for your new PPOR however still be able to fully claim the entire amount of interest charged on the new loan as Tax deduction.

You would incur Stamp duty and there is another consideration or two but an easy solution to a problem.

Cheers

Richard…[Read more]

David

Switch it to an interest only, keep all statements from there onwards and look upwards and prey.

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.

For those of you rushing out to sign up with the new loan take a quick look at the website extract.

Application fee – $585 for loans upto $150,000 thereafter 0.66% for loans upto $500K Not bad for a $499K loan the application fee is $3293.

Document Preparation Fee – $275

Valuation Fee – $220 Metro only

And guess what there is more

ALL loans…[Read more]

Hi David

Yes you would have the monthly interest payments debited from your 100% offset account it is just you dont want the capital being repaid as this will be your IP in the future.

Equity Access with WPac is an interest only facility. Just be careful about not making any repayments as you are unable to claim capitalised interest as a…[Read more]

Hi Will

No no other vehicle will give you a combination of Asset protection as well as the benefit of being able to personally claim the interest deductions as a tax benefit.

Cheers

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

Thomas

I agree thats why several lenders take 100% of the rent into consideration.

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.