Thanks Teylu.

Please call me ‘Gold Member’ from now on.[]

Terryw
terry@discoverhomeloans.com.au

Buy using a trust. You can then disdribute the income to relatives that pay less tax than you. You could also distribute to a company and the company will only pay 30% tax.

Terryw
terry@discoverhomeloans.com.au

Brett

What happens if your trading company is sued? Your house will be vulnerable. Why not just set up a trust? The income can then be distributed to your trading company anyway. Plus it gives you more options later on as well.

Terryw
terry@discoverhomeloans.com.au

They held a seminar in Sydney recently. I would be interested to hear how it all went too.

Terryw
terry@discoverhomeloans.com.au

Have you thought about keeping those blocks?

Terryw
terry@discoverhomeloans.com.au

I don’t think you need to give any reason. You should be able to live next door and still claim the CGT exemption. Ring the ATO and check (but don’t give your name of course).

Terryw
terry@discoverhomeloans.com.au

Most banks will lend to a newly created company. They cover themselves by getting personal guarrantees from the directors. Infact, some banks will not lend to a company that is trading as it is too risky (trade related debts etc).

Have you had some advice on this? I wouldn’t be buying in a company name unless it is a corporate trustee. Speak to…[Read more]

My company has access to private funds for property investment. Rates are higher and start around 8%. Conditions vary greatly depending on the location, LVR etc. I recently had a client who purchased an inner city unit off the plan. banks are very wary because of teh location, but the private funder would give 80% of valuation at…[Read more]

Bluestone are a non conforming lender mailnly for people with credit problems but can be actually very good with large loans (apprx $1.5mil +). often normal lenders won’t do these high lends at teh same LVR.

Terryw
terry@discoverhomeloans.com.au

Arty

yes we are mortgage brokers.

Stuart

I love ANZ products, but….. There are some good lenders out there. the smaller ones seem to be better at the customer service are.

Terryw
terry@discoverhomeloans.com.au

What? ANZ in the lead?

I recently found that 2 of those properties that I had loans for with ANZ had a major problem. The titles were not in my name-18 months after being purchased. After many phone calls and complaints etc, I found out that ANZ had not transferred the titles.

Terryw
terry@discoverhomeloans.com.au

Hi Melanie

You forgot to mention claw backs!

If a loan is paid out or refinanced within 12 months the borkers usually have to give back all or part of their commission to the lender. Thats one reason why it is not wise to rebate any commission to the client.

Terryw
terry@discoverhomeloans.com.au

I used ANZ 95% IO loans with LMI added on top (5 loans in one year). ANZ are pretty good on serviceability and also offer 100% offset accounts on IO loans.

The problem with ANZ is the mistakes they made. nearly every settlement has problems. And now I have sold 4 of these properties recently and settlement was delayed by ANZ stuff…[Read more]

There are a few banks now that will accept only 3% genuine savings if the FHOG is used, and one that may do it at 2%. But the location of a $70,000 property may be a problem for mortgage insurance.

Terryw
terry@discoverhomeloans.com.au

Junior, No Doc loans are also called Asset Lends.

Terryw
terry@discoverhomeloans.com.au

clownsta
To get a deposit bond these days is just as hard as getting finance. You will basically have to have a pre approval in place or to show the deposit bond company that you will qualify for a loan (now). There are low doc type depsoit bonds, but still hard to get. You will need a letter from you accountant saying you a a client of theirs for…[Read more]

Hi Calron

There is a catch-The interest rates are high. This is meant to be short term finance only, so once the project is completed you could refinance with a lower rate. It will also depend on the location, anywhere on the east coast may be OK, but not country areas.

It works by getting 70% of the end value which is often enough to get 100%…[Read more]

If you would like to construct the units you could get 100% finance based on the value of the end product only. No credit checks, tax returns etc needed. (Depending on the location). size doesn’t matter!

From what I have seen ,unit construction works out to be about $130,000 per unit.

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

Tilly and Mensch

Just imagine in Tilly’s example, if the driver of the car had one drink before driving. the Insurance company would be likely to wiggle out of paying and the driver would then probably be sued.

Regina

A tenant ‘may’ be able sue the trustee as the ‘owner’ of the property in some circumstances (say the faulty wiring was illegal…[Read more]

If you are registered with an ABN you could get a low doc loan where you self declare your income. Another option is a No doc loan where you do not have to give any income to get the loan. It will also depend on where the property is.

Terryw
terry@discoverhomeloans.com.au