no chance I am afraid. You cannot borrow more than the security property is worth.

How much is a new lock? $200 maybe? Why wait – you may only be saving $40 in potential tax.

The only way to protect yourself would be to avoid becoming a defacto or marry. Pre-nups can help, but are not 100% tight. Family Court can unravel or look behind trusts, and companies.

Thanks Invest.I suppose if you could rely of the guarantee, then it would be like a savings account. You coould also leverage a bit (low LVRs), but how tight is a guarantee?

It depends on your view of the market. if you think house prices will keep increasing faster that inflation, then it is probably best to buy as many as possible as quickly as possible and then sit back and wait. if you are less confident, then maybe higher deposits to cover yourself a bit.Most people tend to start off with little deposit and then…[Read more]

Spouse includes defacto as well as married

Hi ImugliANZ and their mortgage insurers can be fussy about this sort of thing. I think if you went to another lender such as St George, there wouldn't have been a problem. Surely a spouse will gain a benefit – from being the spouse as well as being a beneficiary of the trust.

I would suggest, if you have any LOC equity left, to look at borrowing any expenses from this account while putting all of your hard earned cash into the 100% offset account. This is assuming the LOC has been used for investment purposes. May may also wish to talk to your accountant about paying the IO loan interest from this account.

Sympathetic doesn't mean the same as 'same' !! look it up in a dictionary and see what you think. I would think that as long as they were close to neutral or pink it should be ok.

Most lenders would allow the name of a spouse to be on the loan even if they were not on title. Maybe you could try a different bank.

Wealth Accumulator wrote:

kezzah62 wrote:
Hi all – the latest newbie here.  I am currently living in a (cheapie) home I purchased just over a year ago.  Current value around $280k with a $235k mortgage – fixed for another 30 months.  Looking at moving in with boyfriend who owns his house outright.  I have an income around $85k.  Anyone able…[Read more]

jasandliv wrote:
Thanks guys for the info, I'll be getting my solicitor to set it up but am still going to have a crack at the forms myself and run it by him when i go and see him in the next few weeks. I won't submit any forms but for interest sake will try and structure it myself before i get it done properly. This was what i had in mind……[Read more]

Maybe you could work it out based on floor area used – eg size of the bedrooms. Masterbedroom users pay 60% maybe. 50/50 wouldn't be fair to you as you have 2 people in one room. 1/3s each wouldn't really be fair either – but closer maybe

Getting $100,000 up front will greatly add to your income!!!! probably half of it will go in tax, and then for 5 more years you will have losses.

invest007 wrote:
I own 5 car parks in total, very happy with the returns plus the buy back scheme is a bonus. If your looking for an investment with zero risk.. this is the way to go

Hi InvestHow does the buy back system work? Is there a set price, or is it just at the original price?

No Australian bank will lend for property overseas – you will have to approach lenders in the country you wish to purchase in – Aussie banks with branches there may be able to lend from those branches. It may be hard if you are not working in that country too.

I am not sure I follow Richard's reasoning.I am thinking it would work like this:Say the property is worth $200,000. The full amount plus stamp duty etc would be borrowed from a LOC. Ideally this LOC would only have been used for investment purposes or would be unused at present. The property would be done up and maybe funds for this would be…[Read more]

You are wasting your time going to meet 5 different lenders. you can only go with 1 of them.  A good broker should save you time in this regard.

You would probably be better off in the short term for the following reasons:- You can claim all interest, rates, insurance, etc on your property if rented out, and- you can also claim depreciation on fittings and maybe construction (at 2.5% pa if built after 1983), and- You can still treat it as your main residence even though you are not living…[Read more]

they will eat him alive in Indonesia. if he is not going to be running the business how will he know how much it is taking and if the staff are ripping him off or not. There will be no profit to take back to Australia! it is not only Indonesia where this will happen, but in most countries including australia unless you can work out a system where…[Read more]