Forum Replies Created
Thanks for your responses.
I remember about 18months ago I had the impression that 100% home loans were only available for high income earners, has that changed now?
She worked for two years after high school, had a six month break to travel then rejoined with the same organisation in a different location and has been with them for three months now.
Even if the guarantor is your spouse?
Thanks for your help Richard.
Much appreciated.Thanks again for your response.
If I chose not to disclose the information to the bank, is there anyway that they can find out?
During the contract of sale between the wrapper and the wrappee, does the OSR notify the bank of anything during the time of stamp duty processing?
Thanks for your response.
If I wrap a property to someone, are they eligible to receive the FHOG and if so, how does this work if the property remains in my name?
And this may sound like a stupid question, but if the banks do not allow you to wrap, how do people do it? Is it done through financiers that will allow wrapping or is it done without notifying the bank?
Thanks for your response.
I’m assuming that because most loans are mortgage insured, there’s no way to get around the postcode restrictions, are there any lenders who will lend favourably to non-metro areas, perhaps lenders that self-insure maybe?
Thanks for your reply.
Thanks for your reply. At the time of writing the original post, I was having trouble using the search function in this forum but have since figured it out and found a lot of my answers through various previous posts, but just another question…
Just a thought…
1. I obtained a normal residential construction loan pre approval.
2. I found a property that was suitable for subdivision and constuction and bought it with an option (ie. subject to DA etc)
3. Subdivision + Building DA is passed by councilHow would the bank go, now buying two title’s instead of one under a normal residential consturction loan? Does it strictly have to be under the one title, or does it only matter to the extent of the banks valuation (ie. the valuation of both title’s is equal to or more than the purchase price)?
Thanks Richard.
Anybody?
Originally posted by lifeX:You can have the loan in your name and the title of the property in the trusts name for neg. geared scenarios.
Then, the trust is making a profit. And you still get to claim the loss of the loan interest against your own income.
Called Hybrid Discretionary Trust.
Live, Learn and GrowLifexperience
If this structure is used, is the FHOG still able to be claimed as the loan is in my name? Or because a trust is on the title, does this make the FHOG ineligible?
How do you guys manage to get finance at a young age? Do yous have jobs which earn high enough to cover serviceability or do your parents go guarantor on serviceability to get you into finance?
Thanks for all your responses. I called St. George and their LVR was 75%.
Stuart, I called the NAB a few times today and got conflicting answers as to their LVR for owner builders. I got 70%, 80%, 90% and 95%.
Do you know which one it is?
I know that the Commonwealth Bank act as an agent to the Bank of America which I think allows you to do Bank of America banking through the CBA but I’d check it out.
1 bedroom, 1 bathroom 42 square metres.
Would I have troubles getting finance?
I am in the same situation as yourself Dan, and I was just wondering is the standard practice to get building inspections and valuations done before you see your solicitor about the contract or do you see your solicitor first and plan them inspections into the contract?
Also, I have put down $1000, the 5%/10% deposit, when is that usually expected to be put down?
I went to his seminar this week. I didn’t find it very good. Too much marketing and hype.
He had the crowd standing up and shouting “pigs” which was in refererence to a type of investor that the professionals refer to in this manner.
I don’t see how that educates anyone. I was hoping for it to be near purely educational.And also, he showed a chart of different compounded interest figures over different periods of time and everyone was gasping at 25% / pa over 40 years……
Obviously it’s going to be a lot, it’s just a matter of numbers, I don’t see why everyone gasps at it.ah ok, I think I’m picking up. I know that you “have” to do this and this is the case (that you can’t use your deposit as equity on something else) but I’m just wondering as to the “why” bit.
Is it mandatory for all finance deals, that you have a 10% (or 5% in some cases) stake in your property so that if they foreclose on you for whatever reason, you’ve lost a portion of your equity, therefore de-inticing you to stuff up the mortgage?
ah yeah I saw that in the back of one of his books.
Do you host regular games at Maitland? Any games hosted in Newcastle?
Bought it on Thursday, the last one in my local store. I reckon your today tonight segment would have attracted a fair bit of business. It’s what got me interested as I was already reading books about property investment. Upto the last bit about negative gearing now.
