You could borrow up to 90 or 80% of the  value of the property less your other loans.The interest rate would depend on which product you took.

You must also expect to pay brokerage for such a deal as the broker will make no money from the lender.

There are very little ways in which you can protect assets in family law situations. Transferring assets won't help.

If you consolidate then you will be joining both loans together. You can also get a separate amount of credit available, this is best done as a separate split. 

main residences are usualy cgt exempt so generally no cgt payable

TD51 Capital Gains: What factors are taken into account in determining whether or not a dwelling is a taxpayer's sole or principal residence?http://law.ato.gov.au/atolaw/view.htm?locid=cgd/td51/nat/atoThis document has now been withdrawn.But you can still view it…[Read more]

There is a tax ruling on what constitutes a principal residence. You should look up that on the ATO legal database and go from there.

WowFirstly, trusts won't help you are all with family law type asset protection – usually. This was found out by one of Australia's leading trust experts a few years, a barrister called Dr Spry.A bare trust is one where the trustee has no powers. A just holds the legal title for B.Your situation is messy and you need legal advice. Simplest would…[Read more]

Sorry I should have wrote "shouldn't" !ie should not be a problem

Sorry I should have wrote "shouldn't" !ie should not be a problem

Yes, should be a problem joining 2 loans relating to the same property.RAMS would have to reassess you and your property and increase the loan with the money being used to pay out westpac.But take this opportunity to reassess your loan with rams

There is more to it than just changing your IDs too.There is a case in Vic, relating to the FHOG, where someone did that and didn't actually live there. This was proven as the electricity usage showed virtually no use during the period it was allegedly the main residence.

That would be a shock to the system.Was it an error? Or did you negotiate a 0.9% discount and do you have evidence of this?The contract would allow the bank to vary the interest but the wording is probably such that it is 0.90% off the variable rate so they would have little room to move. Sounds like a binding contract. I am sure if it was the…[Read more]

How do they take 28% of the principle and divert it to the shares? Possibly by making you pay extra or having the loan as interest only.If they could do it you could do it.

If the trustee changed but you kept the title ownership as the previous trustee then that person would be holding the property as bare trustee for the new trustee.I can't really see a point in changing trustees unless the ownership changes too. Why do you want to change from your mum to you?

Yes, probably correct (without knowing all your details).

Not usually. This would just be a change in legal ownership with the beneficial ownership remaining the same.But watch out for stamp duty and other hassles changing the names on title and redoing the loans.Consider having a company as trustee as it is easier to change control but keep ownership the same.

73% of the combined loan as this relates to property A. The other 37% relates to property B.So if you move into property B then only 73% of loan 1 would be deductible and this would be against property A.Since you would be living in property B, the PPOR, none of loan 2, the 37% part, would be deductible.But if you moved out and rented both then…[Read more]

learning curve2 wrote:
…is it true that i can move into Property B for a few months (to gain the CGT exemption) and then out again returning it to be an investment and the interest on Property A becomes deductible again?

No.

Whether you move into B again is irrelevant to claiming the interest on A.

That is a question that only you can answer. There are not just tax issues but lifestyle etc.If property B was rented then loan 2 would be deductible too because it relates to this property. If you move in and out again you may still be able to claim the main residence CGT exemption.I think it is best to not pay off loans. Imagine if you paid off…[Read more]