If you can actually pay cash for a property, you could then apply for finance and get it based on the value of the property. But if you are purchasing, lenders will nearly always take the lessor of valuation or contract price.

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

Depending on what sort of deposit you have you would probably need some sort of council approvals, plans etc drawn up.

You cuold buy the land first and then apply for further finance for the subdivision etc.

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

Don’t forget the Hart’s case is very different to what I have outlined above. The hart’s used a split loan, with the same lender. The loan was designed to allow interest to capitalise on the investment portion and for all payments to be placed into the home loan portion.

This scenario is different. Both loans for the investment and the LOC…[Read more]

Yes it can be done. But if you want to protect your assets don’t put them into an entity that is trading or employing people. Set up a new one. Maybe your business company/trust can have its shares owned by your property trust.

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

Why don’t you also send something in writing to the credit department and to the ANZ complaints section so they know why you have left.

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

Lets not hijack this thread. Please see:
https://www.propertyinvesting.com/forum/topic/17474.html

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

Originally posted by Dazzling:

In terms of rates we are getting at least 0.5% better than what the best of 7 brokers could achieve (including a couple from this forum who formally advised me they couldn’t compete and recommended I stick with the Bank’s deal)…so really don’t see the need for brokers at this stage.

Cheers,

Dazzling

“No point…[Read more]

A unit trust is a fixed trust with each unit being a percentage of ownership. If one person wants out they can just sell their units. This can also be done with a company with share ownership. I beleive transfer of shares in a private company is stamp duty free if the company was incorporated in victoria (up to a certain level).

Terryw
Discover…[Read more]

Before you do anything, get another 2 opinions. Try a proeprty focused financial planner like Steve Navra http://www.navra.com.au

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

Originally posted by The Mortgage Adviser:
Terry, again, this is illegal mate. You cannot deduct interest on interest to help pay off non-deductible debt.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Rob, Why do you feel borrowing to pay investment expenses would be illegal?

By making statements like this…[Read more]

If you have other non-deductible debt, then IO is the way to go. You may not need to pay LMI, even if you borrow 100%, if you have equity. LMI and other borrowing costs are tax deductible – usually claimable over 5 years.

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

They may have increased the value by $40K, but what did it cost to achieve? All the materials and tradespeople would have come close to this?

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

Yes I’ve read that article. It would be very hard, though not impossible, to get a lender to agree to that.

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

Also, talk to a taxation specialist about borrowing to pay interest on your investment loans so that you can pay all available cash into your home loan or 100% offset account linked to your home loan. This will increase your deductions and speed up the payment of non-deductible debt.

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

I have read Kevin Young’s new book – mainly seeking more information on the living on equity angle. I must say it is a very disappointing book. There is a bit of history about Kevin Young. but not much on their strategies.

I think more information is available within their free monthly newsletters.

Terryw
Discover Home Loans
North…[Read more]

Yes your right Island Dreamer. (if you were referring to me). I am sorry!

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

Yes Rob.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

Wow. Thanks

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

If you are going for 60% LVR, ANZ may suit. $300 exit fees. But they will not do trusts or company borrowers.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

Couldn’t agree more!

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au