is this one of those shared equity things – where they will lend you more, but require a percentage ownership in return?

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

TMA

Some people have more than 1 property and have no need for any extras. A simple IO loan is all that is needed.

For the 95% loan with no LMI, this was for a new client as well, and it seems Bankwest are willing to do this as a matter of policy. As long as LMI are not involved (ie LVR 80% or less based on valuation), they can approve these…[Read more]

What is the alternative to living off equity?

It would probably have to be selling a property. If you were to sell a property you will lose all future capital growth of that property and will also have to pay various costs. Surely this is cooking the goose (and not drawing down the capital).

However, if you were able to keep the property and to…[Read more]

Nine

One possiblitiy is to lend your money to your trust and then to buy a property for cash. Buy only bargins and Stack the contract up higher with a rebate on settlement.

Then after settlement apply for a loan to release your funds. If you have purchased well, the valuation should come up higher and you may be able to get a loan close to 100%…[Read more]

Nope, The Devil did get over 80% LVR (about 84% I think) without LMI. I was once able to get someone 95% LVR without LMI with Bankwest too. Bankwest are one of my favourites as they have good service, are flexible and cheap (6.65% on the Lite Home loan). They also do loans for Hybrid Discretionary Trusts with the title in the company name and the…[Read more]

Even if the shares of the company are held by a trust, I beleive the CG is still unable to be discounted.

One reason to hold a proeprty in a company would be to avoid stamp duty on the transfer (in Vic at least). When selling you could just sell the shares in the company, and avoid stamp duty.

Terryw
Discover Home Loans
North…[Read more]

Unfortunately it is still a problem – at least with one of the mortgage insurer – PMI.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Your right Dr X. it is actually MGI – affliated companies I believe.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

TMA. The trouble is the mortgage insurers do not like wraps so will only lend based on contract price, not value.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Police won’t help in a civil matter. And contracts do not have to be in writing, you can find out how many properties they own by going to the land titles office in your state. But first you should probably start court proceedings on getting a judgement against this person.

Go to your local court and fill file a statement of claim, and have it…[Read more]

I can give you a good one or two:
http://www.strategicwealthmanagement.com.au
http://www.mintgroup.com.au

or PM me for another good one.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Originally posted by dallasm:
I have a couple of similar queries…
1. If you live in a house and claim it as your PPOR, then move out for six years, can you claim deductions such as interest and rates etc. or do you forgo these to maintain your CGT exemption (the latter I would expect)

2. I recently bought a house with my fiance. My name is on…[Read more]

Macquarie are good, but only go to 80% lvr and require self employment of 2 years. There are only a few that lend over 80% lvr on a low doc basis.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

You can still use the property as security for an investment, even if the loan isn’t repaid – just needs to be enough equity. You could also set up a LOC on the house, using the existing equity, and then use this as deposits on further investment loans which could be with different lenders. This would save cross collateralising her home.

I think…[Read more]

Do a search for the tenants union, or similar, in your state. These sites have a wealth of information (from the tenants point of view) on what landlords can and can’t do. I think there may be limits on what you can raise the rents by in one hit.

Another option would be raise it $25 now and another $25 in 6 months.

Terryw
Discover Home…[Read more]

It will be hard, if not impossible to get finance while on probation. Both of the major mortgage insurers will not accept this situation. With probation, you can be let go at any time, so the job is insecure from a lenders POV.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

There would be no need for multiple sub accounts if you are going to use it only for investments. At tax time you just apportion the interest used per property.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

I agree with TMA, it may not tell you anything worthwhile.

Go here:
https://lpi-online.lpi.nsw.gov.au/cgi-bin/lpis/menu.pl

And put the number in “dealing Number” and your credit card details and you should get what you are after (depending on how old it is). Cost is $8

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Charities fear losing tax-free status
http://www.smh.com.au/news/national/charities-fear-loss-of-taxfree-status/2005/06/28/1119724637400.html
from todays Sydney Morning Herald

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

With trust assets, the trustee’s name appears on title. This can be either a company or a individual (can also be more than one). The trustee is the legal owner, but not the beneficial owner. The beneficial owners are the long list of people listed on the trust deed.

What this means is that if you are sued, and you are the trustee of a trust, you…[Read more]