Hi Tom

If you go thru a Broker they are probably going to want to charge you a Brokerage fee as there is no money in personal lending.

Try and find a smaller credit union or smaller bank as they may be more accomadating than one of the big 4.  

Cheers

Yours in Finance

Hi Emma

And will you be advising your Bank of the secondary Contract allowing for the rebate.

If not you could be embroiled in Mortgage Fraud.

Cheers

Yours in Finance

Nope. what are they supposed to be able to offer 

Cheers

Yours in Finance

Put up the weekly rent to accomadate this come lease renewal time.

Tenant will soon get the message and move or be more considerate of his water useage.

Cheers

Yours in Finance

Hi Catalyst

I am assuming Tommy is referring to his Stamp Duty or FHOG which depending on the State where he has located  may require him to occupy for a continual period of 6 months in 
the first 12 months 

Assume he knows there is no CGT on a PPOR and is getting confused.

Cheers

Yours in Finance

Not sure who the loan is with but knowing you wanted to renovate the property from day 1 i would have incorporated a reno line of credit with the original application.

We do more and more of this sort of funding and can often help especially when it is a high lvr from day 1.

Cheers

Yours in Finance

Totally agree with what Jacqui has said and in fact be surprised how many forum members we have helped acquire property inside their SMSF with only 70K when it comes to the Roll over.

Course on of the misunderstandings is that you can only borrow from a Bank lender which us total not the case and that you can only have a single mortgage which is…[Read more]

Just out of question miccalady how do you finance such projects.

We just pay cash for such deals but have many clients who have not realized that financing is not easy given they are no longer in PAYG employment.

Cheers

Yours in Finance

For what ?

Cheers

Yours in Finance

Agree with what has been said already.

Poorly structured loans cause so much work going forward and are the biggest killer when it comes to potential lost interest deductions.

Cheers

Yours in Finance

Course the other issue is they may be fine interest rates are low but be surprised how quickly they rise when times get tough.

Other thing is the level of advice you get from these lenders.

Just restructuring a forum members portfolio who had a couple of loans with one of the lenders already mentioned. They were told it was fine to pay your…[Read more]

Paterson it is called smoke, mirrors and a touch of magic.

All boils down to how you manufacture equity once you purchase the property and increase the return..

Cheers

Yours in Finance

Paterson it is called smoke, mirrors and a touch of magic.

All boils down to how you manufacture equity once you purchase the property and increase the return..

Cheers

Yours in Finance

Hate to say Colin no such Govt ran scheme in NSW, QLD or VIC

Cheers

Yours in Finance

Hi Jimmy

Or of course structured correctly a non bank lender / second mortgagee might have a lower rate of interest than a standard Bank lender.

Cheers

Yours in Finance

Hopefully you got my PM.

Won't find any lender in Australia take NZ security (odd exception but your deal won't qualify) so are going to need a NZ lender.

Cheers

Yours in Finance

Hi Andrew

Don't tell me this incredible opportunity has been presented to you by a firm that tele-marketed you telling you had to act quick before all of the options were sold, promised the world, showed you some nice graphs etc.

Seems too good to be true doesn't it….. well the good news is it is.

I have used Call Options on many a…[Read more]

Loan costs are deductible over 5 years or the Term of the loan whichever is shorter.

Cheers

Yours in Finance

Hi Paul

I am not sure if i understand what you are asking but if you are wanting the formula for working out the interest repayments on an interest only loan it is merely

Loan x interest rate (expressed as a percentage / 365 x number of days in a month.

If i am barking up the total wrong tree let us know.

Cheers

Yours in Finance

As far as i am aware their is NO legal minimum amount required to start a SMSF.

Also remember Banks are not the only lenders that provide finance to SMSF.

Cheers

Yours in Finance