Landt

I think it depends on what sort of payments you are claiming. There is not much counted for the Family payment, but the are much stricter for everything else.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]

I don’t think you can claim travel expenses for a property you didn’t own at the time of the expense.

Borrowing expenses can be claimed over 5 years, not all at once.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]

The only low doc lenders that will not lend to a trust are:
ANZ
ING
Suncorp

Low Doc Lenders that will:
Bankwest
Macquarie
Adelaide Bank
Integris
etc

The problem you may be facing is that most low doc loans are mortgage insured and the mortgage insurers are picky about location. Therefore it is probably the area that is the problem.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]

I just purchased Kevin Young’s book. The chapter on
“Positively Geared is Positively Dangerous” is only 2 pages long!

He is basically warning against buying cheap, old, rural properties with no depreciation benefits, and no prospect of growth.

Of course he is in favour of positive cashflow property if it could meet all of their other requirements such as being in a good growth are etc.

Sounds like good advice to me.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]

try
http://www.bantacs.com.au

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]

I don’t think so, but go to the website of the office of state revenue in your state, there may be further information available there.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]

Yes it will be hard. how long is your contract? The lenders will want to see the agreement and to look at the terms and the lenght remaining etc. It will also depend on what sort of LVR you require.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]

Hi

Sounds like you may need a second (or 4th) opinion on the finance side due to the conflicting stories. You must have a fair bit of equity in your home with that low LVR.

Feel free to send me your figures and I will check them out.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]

Hi

1) You are buying and selling property so you must use a conveyancer/solicitor unless you know how to do this yourself. Maybe you could use one of those conveyancing kits??

2) I think so. Many people have done it. But maybe they could argue it was done just to avoid tax. Do you have any other reasons for doing so, such as asset protection?

3) I don’t htink so. You should be able to claim it as your main residence until you move out (or maybe longer). Couples only get one main residence between them, so it wouldn’t make any difference.

4) If this house is going to become a rental, then you may want to be able to prove the worth of your house at the date it becomes a rental. So collect some evidence and file it just in case.

3)

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]

Brahms

Yes, you can now get 95% low doc loans with First Mac. They have their own mortgage insurers (who are very strict!!). Rates will be high and LMI will be about 3%!!!

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]