Forum Replies Created
Look at the history of Silicon Valley
Originally posted by Terryw:Hi G.
Don’t get too excited yet!
Some points to consider:
1) In this case, the developer has probably increased the purchase price so he can give a bit back to you.
2) It may be tax free if owner occupied, but if investment it would need to be taken into account when you sell for CGT reasons.
3) Will the developer let you chose the bank and valuation company or will they control the valuations – ie get a friendly one?
Valuers are well aware of rebates, and take these into account. If everyone is getting a rebate, it will probably value in at the amount less the rebate. So will they sell at this price if the value comes in lower than expected?
It may still be a good deal, but be careful with buying off the plan in this sort of market.
Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Thanks Terry,
I can choose the valuer thankfully, I am led to believe by the way the rebate is structured there is no tax payable by the letter of the law, this is in accordance with my accountant.
The stock is not the best however, it is the left overs hence the reason for the deal, they need to get closure on the project, still, not bad really when you think about it, you could either grab the 10% (40k) and go on holidays or lump it off the loan and get closer to a +cf situation.
I shall investigate further!
G
As far as I know the only thing the applicant has to supply apart from the app form is a self cert, they do not even have to disclose an income figure for affordability purposes.
This I believe, was introduced for a couple of reasons, one being the ATO, the other is for limiting the lenders from looking like bankruptcy peddlers if the borrower goes belly up if that makes sense? I would say its as closer to a ND than a LD
Of course valuations etc are applicable.
Cheers,
GCorrect you are!
RAMS Pro-pack No Doc, 6.72% No ABN, 80% no LMI over 500k
Looks like the lending market is starting to starve!
G
You can get 85% No LMI depending on the strength of the borrowers credentials and the loan amount, we have achieved this on more than one or two occassions between major lenders.[biggrin]
Not bad, how about a 6.72% NoDoc? No ABN, Self Cert, 65%<500k 80%>500k LVR Built in LMI
I’m excited!
G
