Terryw wrote:
Why is he worried about asset protection relating to a loan? it is the ownership of the property that counts. Maybe he is thinking that the loan could be associated with the trustee in its own right and so if the trust is attacked it would have no loan and more equity. But I can't see this as happening.

Yes… that is correct. He…[Read more]

Terrythat is what I thinkBut my accountant made a big fuss that in term of asset protection, it can be challenged. I am not sure what he mean by that. He told me that it is better to get the loan with <XXX Family trust> as stand alone rather than "ATF".

late/delay settlement is very common… especially during christmas period.

I got confused as well… I thought that you could not really avoid land tax in NSW if buying under DFT. His argument is the owner of the property is unit trust that owned DFT…I was being told by him that <XXXX> As the trustee of <XXX Family Trust) in the loan document is NOT an appropriate structure.The loan document should be able to read…[Read more]

Yes… agree with above… can distribute to your children 3k pa with 0% taxGood on you… single with 1 kid and good equityTerry, I went to see my accountant and he suggested to buy using unit trust under DFT to avoid the land tax. Is this sensible?i.e. discretionary family trust that would own unit trust of the property

RichardYes.. you are right.. but at least it gives u some option of LVR 95% without LMI. I was being told that it is possible to get 1% disc from Adelaide bank if loan ~1 millionANZ used to offer 95% LVR without LMI to doctors…but not sure now..I dont think anyone else providing 95% LVR without LMI

Any news yet? Able to refinance?

TerryHave u tried Investec Bank… I heard they are offering up to 90% without LVRANZ used to offer medical practioners up to 95% without LVR

Hi RichardInvestec Bank offers LVR up to 90-95%. The interest ~ 8%

Good to force small non-bank lenders out….Love to be big 4 bank shareholder

NO DifferenceExit for banks = $800Exit for non-banks = $7300We need portable transaction account !!

why you need 20 offset accounts???

Normally I would inspect the house the day before prior to settlementYou can get your solicitor to write to them..

I was approached by Investec bank /Experien doing 90%LVR on the SMSF last monthI think it is doable to buy property with 100k

Lesson learnt !

what do u mean by 'You MISSED'?

Wo… that is great RichardYou are able to find the finance for hermay be the interest too high????Well… stay away from this sort of mezzanie-like investment

How do you have your house paid off in 5 years??? Print your own $$$

What home improvement? You just BOUGHT it, but waiting for 6 monthsConfused!!!Richard, how do you separate the laundry in 21sq unit?Some of them don't even have internal laundry

I would get rid off personal loan ASAP before thinking about investmentyou can't have a return 10+% interest of personal loan in this climate