If only you had used an offset account….You could also look at selling to your spouse or if already owned by 2 sell one half to one spouse – so you could at least claim half the costs.

You also should consider the values of the properties. If you have plenty of equity merely cross collateralising the loans won't help much, you need to have the mortgage large enough to cover the whole value

JasonYou could offer a second mortgage on your existing property. If you have equity in your current property then why not try to extract this and use this a deposit? My guess is you don't have enough equity? I have heard that the first mortgagee must give permission for a second mortgage to be lodged too.

Bluebird10 wrote:
…so hence a Secured Debt Strategy?  I am unable to transfer back into a trust, as the GST from the last trust would be triggered and I am unable to fund this.

You probably mean CGT. Capital Gains Tax?

Bluebird10 wrote:
Thank you all for the input "I'd suggest leaving your PPOR in your own name, and set up a Discretionary Family Trust for your investment properties. "I have a discretionary trust, so the likelihood of being sued/bankrupt and therefore losing my house is less (using the above suggestion), compared to a Secured Debt Strategy. …[Read more]

Yes, you can help him by gifting or loaning to him. A trust would not work as trust purchasers cannot qualify for the grant. So a loan is probably the best option.

Maybe the loan was a no doc or a low doc originally? These had high exit fees, 2% from memory. Have a read of your loan agreement and see how the fees are structured. Usually they decrease as time goes on, so you may find if you wait a bit you will save a fortune on the variable part. Not much you can do about the fixed as you took a gamble.

I get mine at law central.Trust deeds are legal documents so they are drawn up by lawyers. Accountants can setu them up by buying a document where they just add the details in for trustee, appointor, settlor etc without changing the actual wording of the trust. Accountants can generally advise on who is best for these roles but shouldn't really…[Read more]

very unlikely to find one.  Have you tried latrobe?

Its a good idea, but why pay the loan down. Why not just use a IO loan with a 100% offset account.

I looked into this in NSW a few years ago. Found out that owner builders permits are only issued to people building a home that is to be owner occupied and that you could only receive one permit every 5 years. You may have to do one and then get your spouse to do one and see how it goes.

When a caveat is lodged you must state the reason for lodging. You would need to put the Act you are relying on, not just vague comments like "so you don't move". So if this hasn't been comlpied with it may be relatevely easy to remove. Maybe approaching the land titles office in person will do – But he may still have grounds to lodge the caveat…[Read more]

PosThe never sell theory is that properties go up in the long term, so why kill the goose that lays the golden egg?If you go overseas you may still need to lodge a tax return – you may have income or a loss in Australia for example.

I agree with Iblinks but would personally on use Interest only with an offset for owner occupied loans too. The main reason is it keeps the loan amount high while saving you the same interest. If you ever move out of the house and rent it you will have much more tax benefits. Also if things become tight you can have lower monthly repayments to…[Read more]

It is difficult to put a caveat over someones property. You will need an interest in the property and if you are just owed money then this is not enough. You will need to sue the individual who provided the guarantee. Once you get a judgment then you can get further court orders to seize property such as personal items and real property, guarnish…[Read more]

You would just times $1 by the COC rate. $1 x 0.89%

Lenders and their mortgage insurers will have LVR restrictions, but as said above, it is still possible to get 95% loans in most areas as long as other requirements are met.

If a lender collapses then the loan will be sold off and someone else will just take over.

My block has recently put in similar rules. No smoking on the public areas or common areas of the building such as foyer, hallways, carpark etc. Also no smoking on a balcony if the smoke will interfere with other unit holders – such as going into windows etc. This is in NSW and should be legal and a good idea – be good if you could ban people…[Read more]

Yes, there are still some low docs out there with no GST checks.