Yes, GE Finance will also do 90% LVR low docs, but rates are over 10%. In these cases it may be better for you to be a wrappee, as the rate would be lower and the exit fees less. Exit fees on the non conforming lenders can be up to 4% of the loan amount.

Adelaide will do up to 80% LVR with mortgage insurance or up to 75% without. Same with ING.…[Read more]

James.. Just ask every vendor you see.

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

You probably don;t have any savings or cash as you have been putting everything into your home loan??

If you want to go ahead, then increasing your existing loan or refinancing would be the best way to go. Saving up a deposit would not be an efficient way to go as you could be putting htat money off your non deductible debt.

Terryw
Discover…[Read more]

If you used your equity in your own home to buy an IP in a trust by using a LOC, you would be acutally lending the money to the trust. the trust would pay you the same interest rate that you were paying the bank. So you net position would be Nil as incomming interest would equal outgoing interest. All profit would be retains by the trust.

Is this…[Read more]

hmm

Whoever said that may mean increasing the loans as the equity increases and using these funds as deposits on further cashflow positive property.

You could actually keep increasing your loans and using the money as tax free living expenses IF your property is growing much faster than you are using it.

Terryw
Discover Home Loans
North…[Read more]

I agree with Mel.

having split accounts may attract extra fees, depending on the bank.

If you have a home loan still, direct all income into that account do reduce it asap. then just pay the interest on the LOCs (which you would be using for investment purposes). You cannot pay your home loan repayments form the LOC as this would be borrowing to…[Read more]

Sebastian

the limit is AUD $10,000, so us$9000 would be over.

but you could deposit whatever amount overseas, and then withdraw it here from ATMs. That shouldn’t show up.

If you wanted to make several deposits in Australia less than $10,000 than that would be an offence against the FTR Act, but it 4 transactions is not something very large!

Do…[Read more]

Oh, being regional may make it a bit harder too.

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

St George are not very generous with serviceability. If you LVR is too high (not your equity), then you may just have to lower it a bit to get over the loan.

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

Yep. the gain would just be added to her income. ie on top of the pension. so she may pay tax, but this may be less than the tax that you would pay. But it will affect her pension. so be careful.

have you considered a discretionary trust. You may be able then, to give her a bit of the income and keep the rest yourself.

Terryw
Discover Home…[Read more]

also try the API magazine http://www.apimagazine.com.au

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

lenders will want to know the limits of your loans and LOCs as this is what you can potentially bring your loan up to. But it depends on how they ask. Some ask for limits, others ask for loan balances.[]

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

Col

Standard is 42 days in NSW, but can be whatever you negoitate. Just remember, any shorter and some banks will have problems settling the loans in time.

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

Some lenders would consider vendor finance. The ones that do not require genuine savings should be able to do it! But they will have to take into account the interest you will be paying on the second mortgage into account for serviceability calculations.

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

Maybe a new marketing company will pop up soon?

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

i think you will find that the trust distributes profits. So any costs will be deducted from the gain and this profit will then be distributed to benenficiaries. The beneficiaries are then resposnible for paying any taxes.

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

I don’k know much about these sorts of things, but looked at somethings similar a few years ago. Don;t beeleive anything the agent tell you. Ring hte local council and talk to them about it.

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

C2 and be aware that these are Austrlain requirements, other countires have their own requirements, and I think Japan introduced something similar to Austrac a few years ago.

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

C2

I don’t know about the $50K/month one. maybe that is just a Lloyds bank policy. I think you could get into trouble is you try to do multiple transactions to avoid the FTRA reporting requirements whether cash or t/cs.

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

a few years ago, I remember reading that someone purchased a property for about $4000 and got the $7000 FHOG!

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