You will need to crunch the figures and also factor in how you think rates will rise or fall over the coming 5 years.

Low Doc loans are only available, usually, up to a max of 80% LVR. So the available equity to use will be:Value x 80% – existing loan.However, these days of tightening credit policies, most low doc lenders have restricted cash out on low doc loans to a max of around $20k. But they still may be able to make the funds available for the new purchase…[Read more]

probably best for your parents to get a loan and lend you the deposit. you should be able to get a loan at a decent rate too.

Still no cuts with RHG???Pos, you must be paying way over market rate at the moment. On the pro packs you should be able to get the standard 0.7% discounts, but you may get more depending on overall loan size. Just got one of my clients 1% off with a major bank for a loan size of around $2mil.So how much are your exit fees going to be and when do…[Read more]

What about considering option 4.Keep the 2 existing and rent in the country. You could use the Main residence exemption from CGT on the family home for 6 more years while it is rented. A country property is probably not going to increase in value as much as a city one so this may be more profitable.Maybe you could look at buying the new one in a…[Read more]

3% is the rough figure for a 97% LVR loan.

i am not sure what the problem is from your post. They cannot just increase the loan on the existing property and have all the interest deductible, only the interest on the existing loan would be deductible. Any extra borrowings would only be deductible if the money is used for investment purposes.I think the best way to structure it would be to…[Read more]

Sounds good. Just get some advice on the structure. eg it may be best to use a discretionary trust as it can save you tax, protect your assets and be flexible in helping with finanace.Also consider asking the vendor to pay your stamp duty on the land. This may help with you forking out less cash.As for the loan, you should be able to get 80% of…[Read more]

hi HollsThats terrible what the brother in law did. But at least it is over now.As for loans, generally you will need around at least 5 to 10% for the deposit and other 4-5% for the costs like stamp duty etc.as for borrowing capability, it will depend, but as a general guide you could borrow around 5 to 6 times your annual (combined) gross incomes.

if the renos were done to improve the house that you are going to be making rental income out of, then the interest should be deductible.

notice to complete means you are advising the other party that you are terminating the contract. If you terminate the contract it is all over and you will need to renegotiate with the vendor if you want to purchase.And don't forget if you are paying a fee to occupy before settlement that means your loan hasn't been drawn down so you are saving…[Read more]

That is unusual about the age discrimination. CBA used to try that too. Just go to another lender and probably better to use a broker.

Hi MattI have a copy which I no longer need. It is all over the place so will take some time to find and one of the workbooks is missing. I am in Sydney too.BUT I am leaving for overseas tomorrow for 2 months and won't have time to dig it out! if u can wait???

Cruising666 wrote:
Another question, how do you transfer an existing business into a Trust? A simple business Contract?

Depends on how you are going to do it.If you are keeping the company and transferring the shares to a DT or a UT then you will need to do the paperwork for this. ASIC will need to be notified and the relevant transfer form…[Read more]

Cruising666 wrote:
Thanks for your assistance!Do you think it is worthwhile to have the service trust at all? Maybe I can just have a Unit Trust and then the unit holders are beneficiaries as a discretionary trust.I own 80 % of the business assets and my business partner owns 20%.

You mean have the units owned by the discretionary trust. Thats…[Read more]

While reading this I just received a sms from a Sydney based lender who can lend 90% LVR for first  home owners with paid defaults and judgments with rates from 6.17%.So there are still lenders out there who can do these sorts of loan with slightly higher rates.

Who is the speaker at the conference and what is it about?

The Chaser wrote:

Terryw wrote:
I would look again at using a DT. These days any losses will be small and future gains in income and capital should make up for this.Using a HDT would be only slightly better than using your husbands name. It won't allow can tax savings later on, but I guess it would allow the trust to redeem units later on and…[Read more]

If you are defacto you would probably not qualify now.If not, then I would wait at least 6 months before trying to add her to title – but why bother? This will be a lot of mucking around. If you separate the family law court can still look at dividing the property anyway.

1) only against the capital gains when you sell2) it depends if you have PI or IO loan. If PI then the monthly repayments are usually the same, just more comes off the principle with money in the offset. If IO then you are going to be paying less each month.