I agree with Catalyst seems strange to me.

Imagine you sign up a tenant who works in a factory and the 2 weeks later joins the Army and decides to vacate.

If you had known that from day 1 you may have taken another application.

Rather than rely on the Managing Agent I would be ringing the relevant Tenancy Authority body in NSW.

Cheers

Yours…[Read more]

What State is the property in?

Find the legislation hard to believe but would need to know the location of the property before i could comment further.

Cheers

Yours in Finance

Hi se7en

Answers to your questions fairly straight forward

1) No lenders lend against the security value so whether the property is 5 weeks old or 50 years old really has no bearing on the loan as long as the valuation report reads well and no additional factors noted.

2) Most lenders will take into account anticipated rent on the property even…[Read more]

Hi Jenny

Yes i think that as long as you understand the loan would not be formally approval until the 10% deposit has been evidenced and by this stage you may have exchanged contracts.

You run the risk of course of losing your deposit if for whatever reason finance is declined.

You still have to cover your acquisition costs and lenders will…[Read more]

Never heard of them.

What are they promoting?

Cheers

Yours in Finance

Hi Jenny

Welcome to the forum and i hope you enjoy your time with us.

You wont get any lender give you a formal approval without evidence the deposit has been paid in full so i would suggest that you be careful going unconditional without having finance all approved. 

Also you wont get any lender lend you the acquisition costs without…[Read more]

Charlotte, The capital gain less adjustments is added to you Taxable income and is paid at your marginal tax rate.

If the asset is held for more than 365 days then a concessionary rate is charged 

Cheers

Yours in Finance

Anthony firstly would be keeping your cash in an offset account so this gives you flexibility going forward.

If it is a favourable purchase you maybe able to borrow against the valuation rather than the purchase price but you need to bear in mind that the Seller may have to pay CGT based on the true value and not the discounted price. If this is…[Read more]

Yes i think the worst one i have ever seen was 13 properties all cross collateralised to one of the majors.

Clients were on the verge of retirement and wanted to sell their PPOR and use the net proceeds to buy into an over 55 home.

Unfortunately when their existing Bank revalued the existing securities they refused to release any of the net cash…[Read more]

Certainly can't see immediate reason why the Cash Rate will increase in the near future but interesting to see the spike in 3 year + fixed rates.

See couple of lenders are saying that 3 year rates have risen 8 bps in the last 30 days.

Currently in the UK and here the Bank of England rate is expected to rise 9 times over the next interest rate…[Read more]

Hi Little Master

Firstly welcome to the forum and i hope you enjoy your time with us.

I think you have answered your own question and that is if you are reading negative comments about the organisation then that probably tells you what a lot of people think.

As a property adviser and buyers agent i am slightly biased but we certainly wouldn't…[Read more]

Welcome to the forum SC and i hope you enjoy your time with us.

I always favour reducing the amount of debt secured against your PPOR for the IP deposit so would probably suggest it is a matter of working backwards.

What we would look to do is establish what you would need to cover say a 10% deposit on a 400K purchase and then add in the…[Read more]

Minds eye hate to say S/D may well be payable depending on the State in which you are in.

Cheers

Yours in Finance

If you don't want to go to expense of a SMSF Bank Loan and various Bank Solicitors Deed perusal fees etc you could always look at a Related Party loan which would be a lot cheaper to set up.

As Terry mentioned you cannot use the asset as security after settlement to raise funds or use as collateral security so make sure you get it right first…[Read more]

We are Licensed Financial Planners and Mortgage Brokers.

I have to say it never amazes me how many clients who have been to see FP's in the past for so called advice have had managed funds or direct property shoved down their throats usually as Jamie mentioned from mates of theirs who in turn pay them a nice fat commission.

The other issue i…[Read more]

Duck if Personal Trustees are involved then the Contract should read Mr & Mrs Smith ATF Smith SMSF Super Fund.

Cheers

Yours in Finance

Maybe able to get around stamp duty depending on the State.

Yes hate to say i think LMI would be payable again as the risk is changing.

Cheers

Yours in Finance

No Colin i said 2 separate answers from 2 separate people not 6 separate answers from the same 2 people lol.

Cheers

Yours in Finance

What area are you in ?

Might be able to direct you accordingly.

Cheers

Yours in Finance

Pleasure Shawn.

Always best to get a Private Binding Ruling if you are any doubt.

Not cheap but worth it.

Cheers

Yours in Finance