There is no reduction for moving in. It just stops being payable from the day you move in until you move out again.

It is a good idea to get an independent valuatin done to know the value of the property on the day you moved in and keep this for when you sell the property and have to pay capital gains tax.

The Mortgage…[Read more]

I think you will find, if you look into it further, that the owners of this website always advocate doing things differently.

The Mortgage Adviser
http://www.themortgageadviser.com.au

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As long as it was available at market rent, you can claim.

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The real data comes from the Land Titles office and the ATO. I believe the figures are lower than they should be as they do not take into account investors who use company and trust structures to hold property. I believe these are not counted in those figures.

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Your agents were ripping you off!!! I would slap any agent who tried to hit me up for a 4% commission!!!

That aside, how do you know that a good agent could not get you $10,000 or $20,000 more than you got?

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Not many people would know what you are talking about!!!

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Unless you want to provide full financials and a good indication of exactly what you want to achieve, no-one can answer this question for you.

You were provided with options to do either one. You now need to take some responsibility and make your own decision.

If you can afford to, buy an IP. If not, pay off your house possibly using the offset…[Read more]

Drawbacks of redraw has been explained. It usually costs a fee to get the money back and, if you move, you will not be able to deduct the whole loan amount but rather only the reduced balance.

I won’t explain step by step as this if for your mortgage adviser / broker to do and what they get paid for. You can set up any loan if you already have…[Read more]

Did you guys hear today that BHP are setting up their world headquarters in Perth following their purchase of WMC??? That means they are bringing the HQ from the UK and closing the VIC support office and setting it all up in your backyard.

This will be huge for Perth!!!

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Gold Coast??? I would be looking away from their. You would have better luck in South of the border.

The Mortgage Adviser
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It is important to know the CURRENT value of the home as your LVR is very high otherwise.

If you have read the LOC and Offset discussions, you should know how they work.

Simply, you obtain a standard interest only loan. You attach an offset account to this loan. An offset account is just a normal transaction account that links to a loan.

All…[Read more]

You do not have to pay the stamp duty.

Regarding the unit, it will be harder to finance due to the shoe-box size. It is still doable though. Mortgage insurers will not usually touch them but you say you have found a loan with mortgage insurance at the SVR. May I ask who that is with?

Surely, the standard variable rate is cheaper than a margin…[Read more]

I hope you educated the client as to the negative aspects of their decision???

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No-one will be able to tell you exactly what to do. It will come down to whether you can afford to keep your home and invest.

When looking at the numbers, don’t forget to included a conservative rental figure as part of your income. If you find positive cashflow investments, it will help you pay off your home sooner. Some simple structuring will…[Read more]

I think you need to look at two things seperately before considering whether a property is worth holding. Any property can be cashflow positive depending on how much cash you put in at the start. If income exceeds expenses (excluding tax and depreciation), I consider it positive.

I then look at the cash on cash return. If this is good, then the…[Read more]

Vanessa, a company and a trust are seperate legal entities. If you die, they continue with someone else at the helm. It does not matter that you control them as they have their own ‘life’. It is like renting from a relative.

Amused, I do not understand your qestion.

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Mark, you must be kidding yourself if you think this forum is only here to help people. The owners have a business to run and they sell products. A forum like this, and with so many members, costs a fair bit of money to run. If you don’t like the ‘obvious’ agenda, why come here?

You clearly have a negative attitude about what you can or can’t do…[Read more]

GERALDTON IS THE BEST PLACE TO INVEST!!!! EVERYONE SHOULD BUY SOMETHING THERE!!!!

Please note, I do have property in Geraldton and will always talk up this area so my investment increases in value!!! ))

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You should always set up your loan structuring sooner rather than later. As to how much to borrow, I prefer to go to the maximum I can afford every time I restructure to save me having to do it again more often. There are also ongoing costs and unexpected costs that arise so more than what you need is always better. You only pay for what you use…[Read more]

How is that a ‘rule’? It is just how the agreement was worded. It is no big deal!

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