You would be required to apportion the interest between each property as per the loan on that individual property. But the end result would probably be the same if you averaged them out.

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

Many are like that. I suggest you just put your offer in writing and see what happens. You might as well send a copy to the vendor at the address so you know they will actually get your offer.

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

I can understand Steve setting up his own broking arm, and am surprised that he didn’t do it earlier. It is his website so I don’t think we can complain about him advertising here – and it was just one post afterall. There are plenty of clients out there for brokers, so I don’t think we have anything to worry about really.

btw. I have made over…[Read more]

Originally posted by xxx:
Originally posted by kp:
Hmmmm,
Great article…but how realistic is it to buy a property for $40k and have it increase 100% in 12 months, and then go back a buy two more at $40k each ?

It’s VERY unrealistic, especially now that you’ll be seeing a correction in these cheap country properties within the next 2…[Read more]

I would recommend Stuart at Pro Solution Pty Ltd. http://www.prosolution.com.au/

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

I agree with Advisor. why bother trying to save a few hundered dollars (if that) on something that is so important. I have used cheaper conveyancors in that past, they are good at processing transers etc, but a solicitor is trained to spot problems with contracts. Using a solicitor on a purchase last year actually saved my butt!

Terryw
Discover…[Read more]

Orion

I would speak to your solicitor about this. You would probably want to get a proper document rather than one downloaded on the net.

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

Rob

My understanding is CGT only applies to the period you rent out the property (unless you use the 6 year expemption).

eg. If you purchased for $100,000 lived there for 10 years and then moved out and started renting it when it was worth $250,000. You then sold it a year later for $300,000. I owuld say the taxable capital gain would only be…[Read more]

Trusts are cheap to maintain. You may need to pay account keeping fees, and accounting fees – but these would generally only be about $100 or so more than if you held the assets in your own name.

Companies have ASIC fees each year – about $250 from memory.

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

In Sydney, I have heard of quotes from $8000 to $20,000 to demolish a house.

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

Luke

I have booked in, but don’t really know if I want to spend a day there.????

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

Luke

unsecurred business loans are very hard to find. If you look at all the loans offered by banks etc, you will see they want to secure the loans on a property.

I beleive you can get loans on some larger franchises.

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

Hi Matt

I am a mortgage broker, but have had no luck finding a lender willing to finance wraps.

Mortgage House in Liverpool claim to do it with full disclosure. There is also a company near newcastle somewhere caliming to do it (associated with Peter Solner).

Good luck.

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

Uranehan, it may be a bit late to wrap if the clients have already signed contracts. They will either have to settle in their own names or have the contracts rescinded.

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

You can only have one PPOR at one time. (Expect for a period of 6 months between proeprties when you can have two-allows moving time).

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

I agree. ATO classes a sale to occur when the contract goes unconditional, ie on exchange.

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

Getting a valuation out of CBA is very hard. They even refuse to give the mortgage broker the figure that came in on the valuation.

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

You can create you own trust at http://www.lawcentral.com.au for $275. But it might be better to get some advice first.

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

I think there are 4 lenders offering these loans including Bluestone, St George, CBA and another building society.

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

I have a fixed loan on a property that I was thinking about selling recently. As the rates were moving, I was ringing the bank to get the break costs and they varied from $5000 to about $1000 depending on the interes rate at the time.

There is a complex formula they use and I think it may even be in the mortgage documents. You could ring the bank…[Read more]