Or you could just try another bank. St George has no professional package fee, just a monthly fee per loan – $8 to $12 and a $3 fee for the offset account.

Terryw
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You don’t have to limit yourself to uni students. These days there are many students from overseas studying at English colleges, these don’t run to the same timetable as the unis.

And then there are the working holiday makers.

Terryw
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Sometimes miracles do happen. I remember a few years ago a client purchased a unit under market value. The valuer had the COS and went out and looked at the unit and valued it about 20% above the purchase price. Bankwest ended up lending the client 95% of contract without LMI.

Bankwest have also redone a valuation on a reno before settlement and…[Read more]

Why sell, very costly. Option 2 sounds good as you get to keep it, can access the equity, still claim it as your PPOR (even tho renting it) and will get some tax deductions too.

Terryw
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I think as long as your property was an investment, or intended to be an investment, then you can claim things.

With the repairs, if you replace something with something better, then it is an improvement. if you bring it up to the original condition, then a repair. ie with the bath, if you just replaced it with a new bath that is similar, it may…[Read more]

That’s a good name, ‘miser’! I beleive that is a 100% offset account, but cannot be attached to a Viridian. You may have to settle for the Standard variable. If your loan is large enough, also look at the professional package, MAV.

Good luck with the ATO. If you do get an answer, trying ring back again and asking the same thing – you are likely…[Read more]

It shouldn’t matter. If the property is a rental, whether you do it while empty or tenanted, the tax deductions should still be the same.

I think your friends may have been referring to you trying to make out you are doing repairs. Repairs can be claimed straight away, whereas improvements may have to be depreciated over a number of…[Read more]

Depends what the bank tells the valuer. Often they will forward the contract of sale with the price. Maybe you could put a higher price on the COS and then say you negotiated it down from the valuation came back in.

If under 80% LVR, you can apply for an increase easily as there are no mortgage insurers invloved usually – unless a low doc. If…[Read more]

You would have to confirm that with the ATO, but from my understanding, since they are totally separate and you are not paying any money off the loan, then it should be ok.

Terryw
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Generally you will only get up to 90% of the value. Most lenders will want you to wait 3 months before an increase. It is actually the mortgage insurers. But if you were to go to a new bank, then you could get up to 90%, sometimes 95% on a refinance.

Terryw
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fanx Derek!

Terryw
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Tony Cordato
http://www.businesslawyer.com.au/

Terryw
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The Viridian is a LOC. You actually need a loan account and then a separate savings account. It works because you are not actually paying anything off the loan, your money is going in the savings account.

The viridian has a higher interest rate and monthly charges too. I just closed mine and moved the balance over to ANZ IO with a 100% offset…[Read more]

Sure, buy your property, settle, ask for a increase. If they say no, just go to another bank.

Terryw
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Sure Life. I ahve no idea who you really might be, and am not sure what “WRT” means.

Terryw
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Hey, you can’t swear on this site. <edited> <edited> <edited>, bum!

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Hi

Bankwest actually will NOT lend for working farms. They will lend for large acreages, if they are not farms.

But you may be able to get around 80% LVR for something like this.

It may depend on what sort of farm it is and what it actually looks like.
Lenders don’t seem too keen on cattle farms for example.

Life X. Property Guru is works with…[Read more]

<edited>. don’t do that if it is an investment loan. Every time your salary is deposited, it will be considered a repayment. Then when you withdraw again it is a reborrowing. So your taxable portion will rapidly decrease to zero.

e. if you had a $100,000 loan and got $100,000 pa paid weekly into the account. After one year your claimable balance…[Read more]

It may depend on who the trustees are. I think they cannot be related in anyway.

Have a look at http://www.chrisbatten.com.au

Terryw
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Why not? If would be just refinancing one loan to another.

Make sure you have it clearly documented so you can prove it if audited. Better get a loan agreement done.

Terryw
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