yes.

You should be able to do this with a major bank such as ANZ – if the property is in personal names, and subject to serviceability

Why put your own phone number on a website? just make it up and save yourself and your private information from being exposed.

mortgagedetective wrote:
 For example if you found the Kohler bath tub you wanted at $2,500 from one retailer, then the same tub down the road for $2,000, would you seriously pay $2,500?This is identical to the retail brokers versus mortgage rebate broker situation, only we're not talking $500, we're talking $31,000!

 If we were looking at…[Read more]

Hi DarrenThis is a complex and confusing area. I suggest you look at the PDF booklets on http://www.bantacs.com.auI think you can claim the CGT exemption on the new block up to the time it ceased to be your main residence – which is probably at sub-division. So if you were to sell the land now your cost base may be the value at sub-division so if you…[Read more]

Many things to think about.Depending on the size of the place you may be able to use the PPOR CGT exemption, depending on whose name it is in and how it is set up – but you only get one property as your main residence.You also need to consider centrelink benefits, land tax, and asset protection issues – eg if a future customer staying there were…[Read more]

Singer wrote:

mortgagedetective wrote:
"I wouldn't dream of offering $32,000 below the asking price After all they've gone to the trouble of renovating and used their expertise to get the colours right… I'm not that good with colours"

Hi Michael,I don't think your analogy is in any way comparable. If you get cut price mortgage broking you…[Read more]

HiIO = Interest OnlyI think Steve was probably recommending loans not be cross collateralised.Loans can still be cross colleteralised if each loan has a separate number. .eg. PPOR value $100,000 with a loan of $20,000IP 1 value $100,000 with a loan of $120,000Each would be a separate loan number, but these loans would be cross collateralised -…[Read more]

What do you mean by separate number?Each loan should only be secured by one property – is this what you mean?

If you have a non-working spouse it may also work out better if you put the money into a high interest account in the name of the non-working spouse so they will get income but no tax payable. do some sums to see if this will work out more than reducing the tax payable on the high income earner's negative gearing.

hi SharraIts hard to decide these sorts of things. Sometimes it is worth keeping a bit longer in the hope of some gains, but it is costing you a fortune. Maybe you could work out what it will cost you over the next year and then estimate the gain over the next year, and see if the gain will be more than the cost. If not it may be better to sell.

I would be suspicious too. How did they know you have properties in the area? Probably via a RP Data etc. So they may know a bit about you already.

I think you need at least one property in your own name (per couple) to grab that CGT free status – this is the only asset you can get which will be CGT free and it should offer considerable growth over the long term. So not utilising this is a bit of a waste.

An offset account is just a savings account.

Demolishing and constructing on the land may also mean the lose of the pre-CGT status as it will be new property. So you had better check this too.

You are seeking legal advice, so had better run this by a solicitor. If you get it wrong you could be locked into a binding contract when you don't want to be. Never let an agent insert a clause into a contract – legally they cannot anyway (at least in NSW).

Will also depend on whether your investment went up during the time it was an investment.

In that case it probably doesn't matter whether you pay into the loan and redraw again as your tax position would be the same.It is probably best to go for the highest LVR low as possible and to minimise your cash. Do you have any equity in the other property? maybe you could squeeze a bit out?

Do you have a PPOR loan? Any equity in that property?

You will need at least 5% deposit and maybe 10% and have all the borrowing costs such as LMI as well as stamp duty etc. So all up you will need 10 to 15%.The best way to proceed is to use no cash but to borrow from an existing property. If you have cash you should be paying this off the loan on your main residence first and then reborrowing it by…[Read more]