Finance

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monyet
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@monyet
Join Date: 2003
Post Count: 13
December 23, 2003 - 9:35 am
Back to the topic i started with….
Has anyone had any dealings with a net based lender called homepath??? They are a subsidiary of Combank and appear to have VERY attractive rates!
monyet
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@monyet
Join Date: 2003
Post Count: 13
December 26, 2003 - 7:04 pm
No-one has had any dealings with homepath????
melbear
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@melbear
Join Date: 2003
Post Count: 2,429
December 28, 2003 - 6:35 am
I think westan has. If you have a search for Homepath you may come up with something?
Cheers
Mel
redwing
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@redwing
Join Date: 2003
Post Count: 2,733
December 28, 2003 - 9:16 am
Mortgagehunter
Thanks for clearing that up [^]
as always..you’re a wealth of Info’
REDWING
brownrabbit
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@brownrabbit
Join Date: 2003
Post Count: 23
December 28, 2003 - 10:42 am

Hi everyone ,
Just on the PPOR and CGT stuff , how does this senario stack up ….. i have three properties and i need to sort out the “structure” of. One i have lived in for 10 years , which i want to keep and rent. The second i bought more than 12 months ago with the view of renting. I have nearly finished renovating this one and due to a massive CG i am thinking of cashing in to finance more IP’s. And the 3rd i have just settled on which will be my new PPOR . I changed all my addresses over to the second, knowing the third would be rented. I have also been using the second to live in while i re do the kitchen and bathroom in the first ……Do you think the ATO would accept a claim of the 2nd being my PPOR (and hence CGT free) given that i haven’t rented it or claimed it as an IP …..????
brownrabbit
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@brownrabbit
Join Date: 2003
Post Count: 23
December 28, 2003 - 10:45 am

Sorry that should have read
“i changed all of my addresses over to the second knowing that the first would be rented”
i hope that makes sense now ……
melbear
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@melbear
Join Date: 2003
Post Count: 2,429
December 28, 2003 - 12:23 pm
quote:
The second i bought more than 12 months ago with the view of renting. I have nearly finished renovating this one and due to a massive CG i am thinking of cashing in to finance more IP’s.
Rabbit, I’m guessing you lived in this one while renoing? If you lived in it, you can definitely sell it CGT exempt. If you sell it within 6 months of settling on the new place which is going to be PPOR you can have an overlap – ie have both properties count as PPOR for those 6 months.
If it takes longer than 6 months, you have to apportion your new one – ie 3 months as not the PPOR, versus 2 years 9 months living in it. Then 1/12 of any gain on sale would be subject to CGT. Ask your accountant.[]
Cheers
Mel
pricedr
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@pricedr
Join Date: 2003
Post Count: 16
December 28, 2003 - 1:35 pm
Monyet,
My loan is through Homepath and I am very happy with them. The service is very net based and I’m told they will soon have all loan details accessible via the net. There is also a 24hr help over the phone, and all dealings with these guys have been good.
Regards, Dave