Setting up HDT!

Viewing 5 posts - 1 through 5 (of 5 total)

PosEnterprises
Member
@posenterprises
Join Date: 2006
Post Count: 290
January 2, 2007 - 9:16 am
Hi can anyone advise what questions i should be asking my accountant about setting up HDT! How will i know if the deed that is written is correct for my circumstances, do i have to have a lawyer read through again or do i just trust the accountant.
Questions about!
1) Beneficiaries as guarantors for the loans
2) Should i have Corporate Trustee
3) How many directors wife and I or??
4) What banks lend to HDT?
any ideas folks?
thanks for any input![hair2]
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
January 2, 2007 - 9:56 am
If you are borrowing, have you broker look at the deed. Accountants and solicitors will not know lender requirements.
Look at for named beneficiaries as some lenders want guarrantees from every adult named beneficiary.
Why have two directors, creates more risk and complicates loan applications and maybe borrowing capacity.
Many lenders lend for HDTs, but only a few will allow the third party loans ie title in the company name, loan in the individual name.
So having a corporate trustee or not has to be weighed up against reduced number of lenders.
Terryw
Discover Home Loans
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redwing
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@redwing
Join Date: 2003
Post Count: 2,733
January 3, 2007 - 4:08 pm
Make sure your accountant knows what they’re doing is an important part, the wording of the deed can be crucial
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PosEnterprises
Member
@posenterprises
Join Date: 2006
Post Count: 290
January 5, 2007 - 3:15 am
Anyone know of any accoutants who can do a good deed for HDT’s?
also any good brokers as i am in WA.
thanks
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
January 5, 2007 - 3:23 am
With the internet being what it is is and the ease of communication you don’t need a WA based Accountant / Mortgage Broker.
Have an excellent Accountant who i am happy to pass on the details if you care to PM / email me and like to think i know a little bit about broking.
I am licensed to act in WA and have many clients out that way.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
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