I think Seaford is a great place to buy with potential for future growth. Still cheap and close to the beach and not so far from Melbourne. There has been a bit of a drop in prices lately, but long term it should be a good area – i think.

You will find all applications for finance, whether approved or not, stay on your credit file for 5 years.Some banks do worry when you start having too many hits on your file. usually it is just the last 12 months that they are concerned about and often more than 6 enquiries is when they start to worry.

Yes, you can still get 90% and even 95% LVR loans for investment properties.

Yes you could, but …. it may be complicated as you and your mum will have to guarantee. A possibly better way would be to extra funds and lend to your wife or trust.

do you have any other property? If none, it may be best to leave it in your own name for now. If you transfer it you will pay stamp duty and CGT and you will need to pay rent when you live in it later.You should look at forming a testamentary trust which is a trust in your will which is formed on your death. There are some considerable tax…[Read more]

What if your brother gets married or into a defacto? Will you transfer it back?

fredo_4305 wrote:
I am new to this website and would firstly like to say its fantastic…. It may take a while to sort through all the topics but well worth itI have recently set up an ABN (without proper research)  is it as simple as putting a property into a bussiness name or is more complicated than what it seems on top of making finance…[Read more]

And don't forget if it is hard to finance = hard to sell = lower appreciation.

You can claim an exemption from CGT if your PPOR was rented for up to 6 years. But to qualify as a PPOR you will need to live in it first.

I think the FHOG is not going to be around for long and it is a good time to buy property, so I would favour option 2.But ideally where do you want to live?Either way I would immediately stop paying extra on the investment property and would change the loan to interest only and put all your money into a 100% offset account. If you do buy a new…[Read more]

Trusts have a name, eg. smith family trust. But remember trusts are not separate legal entities, so it is the trustee's name that goes on every legal document. There is no need to register a business name unless you wish to use a different name for trading purposes. eg your trust may be running a sandwich shop with the trustee being ABC Pty Ltd.…[Read more]

Hi carlin6 year rule only applies to absences from your property.

It is no longer possible to get 100% loans, not even for permanent residents. Lenders will also not lend if they know you are borrowing the deposit, such as in vendor financing.

Hi CarlinI think the rental income may affect the pension, but will depend on the circumstances. You should ring Centrelink and talk to one of the financial 'advisors' there. They should be able to assist.

if you keep your existing house you will pay tax on the rent (minus costs) but this will mean a higher loan on the new one (as you won't be releasing funds to pay it down). This will mean more interest which is not deductible.You could sell the existing one, but now is probably not a good time if prices are low? You could always keep it a bit…[Read more]

One potential problem is if they have a mortgage on the place now. They will not be able to transfer title until you pay them enough for them to pay out their own loan.Another problem is what if you do not repay the loan within the year?? They could sue you and possibly force a sale.Another option would be to leave the title in their name and do a…[Read more]

Andrew, it will be very hard to find a second mortgage lender going higher than 80% LVR. You need to find a 'mate' who could help out.

PosEnterprises wrote:
Terry am waiting to get out when it expires otherwise up for about $13k in exit fees and the rest.  Is there a problem getting finance from other lenders if it was originally Lo Doc finance.

Hi Pos, yes there are big problems for those wishing to refinance an existing low doc. Richard mentioned the 2 main hurdles. It…[Read more]

There are problems with buying half. How do you fund it? If borrowing, then your in-laws will have to go on the loan with you too. This can get messy.,If you are just going to sell why not just keep it in their name and then have a written agreement to split the profits on sale. saves on stamp duty and loan hassles. But you will have to check the…[Read more]

If you rent out part of your PPOR you will lose the CGT exemption on that part. Based on floor space as Duxter mentioned. You should also be able to claim part of all costs and depreciation as well. But having a LOC is not good if you use this by putting all income in and taking out money for groceries etc. The tax deductible portion will be…[Read more]