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If i have a cashed up business and a personal home loan in my name- does anybody know if I can transfer money from the business bank account and dump it onto my personal loan for short periods of time. Then redraw it out and transfer it back prior to financial year or just before the buiness needs it?
It will save my personal loan interest rather than sit it in an account or in term deposit etc.It's not a wage as it will be transfered back. No refundable loans aren't legal anymore.
This would save me money.
Anybody know the answer?
Dangerous. What if one person has fincial problems or even worse- when you realise everybody has different investment stratergies.
When do you sell, buy, who do you blame for bad decisions and who controls the cheque book?Yes normally most of the permits can be found through the counsil for a small fee but why would you bother.
Approx 2 years ago I purchased a house off the plans from a local real estate agent and had my solicitor read the vendors statement (S32). The building contract didn't exist. When we asked for it there were excuses. We walked away.
Today the house has been built and somebody lives there but I would never allow myself to be vulnerable to situations like that.I am now a real estate agent and your S32 – its contents are your protection . It allows you to sue for damages if needed. It may work out to be fine but are you willing to gamble with incomplete contracts? I'm not cause there are too many sharks out there.
Of course you should always seek legal advise.
I had a meeting with a salesperson from Homesnow recently. Howsnow are a division of National Builders group. The gentleman was helpful.
What i discovered was this. When you purchase a home through National Builders group you do't actually sign a builders contract with them. You sign a contract with a different builder that they put you in contact with. If you have a problem that can't be resolved Natinal builders group are not legally responcible for your problem because you don't have a contract with them (They get their cut for introducing both parties and wall away). You will need to take the builder to a builder's tribunal ( i think its the HIA but I'm not sure). This will take time and your property is still incurring interest payments and so on. So if I wasn't happy with the quality of the work National builders group were not bound to help me with my problems.
Then there is the biggest problem. If i need to sue the builder I will only be dealing with little joe nobody who may be worth $5. I'm not protected. If you build with say "Metricon" or other simular builders that actually have a contract with their clients then they are resposible for my property being completed and not the builder they decided to use.. They are more likely to solve my problem because they can switch builders to continue the building process and hopefully fix my problem. They are legally bound to my contract and if I want to sue I can actually sue an organisation with some money and not Joe Nobody worth $5.Its all about protection. i'm sure there are people out there that are happy with their National builders home but I won't be dealing with them because it's too much risk for my liking.
