Chris

I have read and then read your post and still confused. Can you break up the numbers for me again.

What is the Contract purchase price.

What do you need to borrow.

Where are the Lots, zoning, size etc.

What other security is available to take or is it a stand alone proposition.

Interest rate will be high but doable subject to the above.

Dave

You are speaking to the wrong mortgage broker or Bank.

Most of my investor clients operate within a Trust structure and they have never paid a higher rate of interest or application / ongoing fees.

There charges are certainly at the high end of the scale and i have introduced many of my clients to very experienced Property Accountants who charge considerably less to establish a similar Trust structure.

95% or even 100% LVR is available on a standalone investment property purchase so as long as you have some equity in your PPOR to access the acquisition costs then you certainly have sufficient income.

Hi Mad

Yes i would like to think so.
Neither your Fin Advisor / Accountant / Solicitor would have a clue about X collateralised lending.

Shoot me an email with what you have any i can tell you the best way to set it up.

Mad

Yes i do volume business with Anz and find them very good to deal with.

Only problem you may have is the local branch may have no idea how to structure the loan with x collateralising the securities.
It is not an area they have experience in.

Wow they were not short of making money out of you.

We charge around $595 for a standard trust and same again if there is a Corporate Trustee.

stran

If you are looking at buying the place and then moving out to another PPOR in a few years time yet still retaining the current property you would be better off borrowing 100% of the purchase price and deposit the balance of your savings into a 100% offset A/c.

When you move out in a few years time you can use the funds in the offset account as deposit and still claim 100% of the interest on the existing home.

This way you get the best of both world. Access to your funds on call and the ability to eventually claim 100% of the interest on this loan as a tax deduction. Remember if you redraw or refinance down the track the additional borrowing is not tax deductible.

Hope this makes sence. Drop us a line if you want more information. 

Even if James wife had never purchased a property before the fact that she is James spouse means that she will not qualify for  the FHOG on any future property.

Transfer of ownership in 3 years time brings a couple of issues:

1) CGT Trigger on original cost base. Transfer value would need to be at fair market value.

2) In certain States (Qld for one) she will incur additional Stamp Duty as the Love and Affection ruling does not apply when it is a investment property.

kmb

Yes especially when his 5 previous posts all are the same.
Hopefully admin will delete them.

Hi Gladys

This day and age with the electronic revolution known as online lending submission your Mortgage Broker can be based anywhere in the Country. I for one have many many clients inter state and through the world all of whom i liase with by email.

This also goes for your Accountant. A good property Accountant is hard to find so i have recommended many of clients to an excellent Accountant on the Gold Coast. Never had a client complain.

Your Solicitor will need to be licensed in the State in which you are purchasing your property in. The services offered could vary from a simple conveyance to more complex contract writing with sepcial conditions or a Put & Call Option.

Let us know if you need any more information.