I think you could probably only retain one as your PPOR.

have a look at the articles on http://www.bantacs.com.au

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BTW. On Law Central the document is called “the Buy a House with Friends Agreement”

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Hi Ms Holman

I am not sure about this. It will probably be difficult as the work cover will stop at some time. Are you going back to the same job when better?

There may be other options such as an asset lend or a No Doc loan. What sort of LVR would you need?

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Generally they must begin straight away – within a month.

If you have enough equity, it may be possible to let the interest accumulate, or capitalise, but you would then be paying interest on interest.

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Snowflake,

Seems like your with ANZ now and want a loan increase. If you refinance with another lender now, you will be fine as you signed before the DEF come in. ANZ and Westpac have recently introduced these DEFs as they apparently do not make any money on loans that last less than 3 years, so they want to recover this and also encourage people not to leave.

It will only apply to new loans, so you have the choice of either accepting it or going elsewhere. There is not much you can do. They are unlikely to waive it.

ANZ loans are portable, so you could always sell, keep the loan, and then substitute a new property. That way you can avoid the fee like Lifex suggested. The loan can generally be kept open for 3 months while you search for the next property.

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Yes. You set up a hybrid discretionary trust. You issue units to yourself. You then borrow money from the bank to buy these units using the property owned by the trust as security. The trust will be giving you income, so they are income producing units. Therefore the interest on the loan you used to buy these units will be tax deductible.

All other expenses will need to be claimed by the trust.

please confirm this with your accountant.

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The clauses should be in your contract – eg subject to finance approval, building inspection etc. I think there is a cooling off period in most states too.

You can only put another buyer in your place, you would be required to pay stamp duty again. There MAY be ways around this by adding “and/or nominee” after your name, but this would depend on your state and the way it is done – see a solicitor first.

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I was going to say the same thing as Westan. Companies are not good for holding assets because of the CGT rules. Look at discretionary trusts instead – including hybrid discretionary trusts.

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Hi

You won’t find any reliable figures for future growth until it happens!

Have a read of Peter Spann’s book, he outlines his research methods there. He basically looks for a suburb that has had consistant grwowth and hopes the consistancy is consistant!

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The trouble is if you order your own valuation from a valuer on the lenders panel, the lender will often not accept that. They must ‘instruct’ the valuer themselves.

But once you have one done, then the valuer would look silly valuing it down a few days later – but it does happen.

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