What about some ‘latice works’ (not sure on spelling) ontop of the fence, and then put in some climber type plants like ivy? This may be a quick solution, and then also plant some fast growing trees there as well.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with…[Read more]

I’ve been involved wiht a few partnerships involving property, and have seen a few clients too. They generally don’t work out very well.

To avoid problems, it is best to have everything documented at the start. Think of all the possible things that can go wrong, and work out a solution before it happens.

Look through these posts, there was one a…[Read more]

If St G, then it is called the Loan Extension Fee. St G have 2 options on their 100% loans, one option is the standard LMI and the other option is their own self insured one which they call the LEF.

LEF for a 100% Lend is 2.60% of loan amount
LMI for a 100% lend is 2.10505 for loans under $300,000.

LMI is a bit cheaper,

Terryw
Discover Home…[Read more]

http://www.lawcentral.com.au
http://www.taxlawyer.com.au

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Your mum would probably have to sell it to you, = stam duty and changes in insurances, (maybe higher premiums).

In the end, it is nto going to make much difference. Lenders don’t really look at vehicles. They are depreciating assets and everybody exaggerates their worth.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign…[Read more]

In this case it probably means make sure they ahve assets before suing.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Originally posted by ogilvy:
Not directly related to this question but has to do with the FHOG. Are there any occasions where you can receive 2 x grants for one property (in NSW that would amount to $14000) if the property was listed under 2 owners ? I didnt think so but a friend of mine was adamant that this was possible.

Anyone?

[offtopic]

I…[Read more]

Don’t fall into the trap of selling a good growth property jsut to invest in inferior cashflow property. You will be worse off in the long run. $250K is not much debt on a property like that. Acreages near teh cities are becoming scarcer, making values rise quicker than average homes. I’d be hannging on and using the equity to buy…[Read more]

Originally posted by DraconisV:
Um, it being unemcumbered. Well its not unemcumbered for me, its unemcumbered for my mum. She purchased it(like on the forms) and i payed her and payed her back(the rest). So its in her name, so is the insurance and rego.
Um, when I finish paying her off, what happens. also what happens with the ownership,insurance…[Read more]

Get some proper advice. You may lose the CGT exemption if you rent out part of your place. You probably could still get the grant though.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

And imagine all the points you would receive in Gross’ example.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Originally posted by adamw:
Originally posted by Terryw:
There are a few lenders out that that will let you go over 80% slightly. If you haven’t tried them, then that is a possible solution.

This is exactly what I have been looking for with this thread. Can someone name these lenders?

This is a full doc loan.

I already did, and I think…[Read more]

Look at this recent QLD case:
Pryke & Ors v. Commissioner of State Revenue [2006] QSC 226 (23 August 2006)
http://www.austlii.edu.au/au/cases/qld/QSC/2006/226.html

The Act states:
DUTIES ACT 2001 – SECT 152
152 Exemption–to correct error in previous dutiable transaction

Transfer duty is not imposed on a dutiable transaction to correct an error…[Read more]

I don’t think you can either, unless the transfer was done in error originally. Just ring the OSR and sus them out over the phone, you never know.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

I was just looking at a loan contract for a friend. He is buying a $75,000 car. In 5 years of having the loan he would have paid a total of $91,000 in for it, including interest, and by then it will only be worth $25,000.

We were working it out that he would be paying about $15,000 pa in repayments, plus it would be dropping in value by around…[Read more]

I agree with Simon. You would sue a lender if they took your property off you and sold it for less than it was worth, wouldn’t you?

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Originally posted by adamw:
Sorry to post again.

We can’t gear up any of the others. The only one available for that is the paid off block of land. This would be taking money from a deductible investment (the new property that has a 6 year rental agreement) to a non deductible one (vacant land).

Why can’t you gear up? Is it because of the…[Read more]

I agree, with Derek. Why sell? You just have to pay taxes, and stamp duties when you buy again.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Homeside may also consider slightly over with no LMI.

A cheaper way to go with your existing lender may be to gear up to 80% on everything, and then go over 80% on the new purchase, that way you are only paying LMI on the smaller loan (not total loans) and your loans would be not cross collateralised. You could also possibly challenge a valuation…[Read more]

yes you can get a personal loan for a deposit, but usually the personal loans are for a max of around $30,000 and sometimes they are harder to get than a home loan.

You also must demonstrate to the home loan lender that you can service with both loans. Don’t forget that personal loans are a higher interest rate and a shorter term, so the…[Read more]