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  • Profile photo of Hybrid2007Hybrid2007
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    October 10, 2009 - 1:16 pm

    Richard,

    Credit policy pretty tough? I have had one broker tell me they were the best we had to go with, all other lenders not qualifying?

    Can i ask what are the negatives?

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    March 1, 2009 - 7:39 am

    I have this perception perhaps that a property on a main road has a lower resale value than similar property that is not on the main road? I guess it all depends on the amenities and conveniences that are nearby. Could just be cos i would not like to personally live on a main road.

    Thanks for your opinions.

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    February 26, 2009 - 8:47 am

    Ok thanks a heap for your insight. I was a bit iffy on the whole thing. I dont think these builders are dodgey or anything as they build other quality brick homes. They just have this as an option to help home buyers with affordability but i am not a first homebuyer so i can spend the extra $20k!

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    February 26, 2009 - 7:27 am

    Hi hb, thanks for your comment.

    The link here shows pics of the construction of the display home. I was told it is hardiflex but it is visually a 'blue board' is this the same thing then? http://www.housemasters.com.au/solace/index.php


     

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    February 26, 2009 - 5:14 am

    Hi Sonia, it may depend on your lender perhaps. I thought this sort of thing occurred where the loan is in husband's or husband and wife's name but the title is just in the wife's name for tax reasons etc. I have heard of it.

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    February 18, 2009 - 12:42 pm

    Richard, does this mean no refinance of traditional loan to lo doc product or no refinance of lo doc to lo doc? What if you want to access equity in an existing trad. loan to purchase another investment/s all under new lo doc loan?

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    February 18, 2009 - 4:23 am

    Great! thanks.

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    November 28, 2008 - 1:42 am

    Hi Sharon, I haven't checked it out fully but a buyer's agent sent this link to me. Might be of use to you – http://www.rentoption.com.au

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    September 7, 2008 - 5:34 am

    PropertySeeker, find out more here – http://www.ato.gov.au/corporate/content.asp?doc=/content/00136083.htm

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    September 7, 2008 - 5:28 am

    Redwing make sure you downloaded the right copy.  

    The R-Codes were updated in April 08 the above link is to the old version. See here http://www.wapc.wa.gov.au/Publications/1585.aspx

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    September 7, 2008 - 5:10 am

    Denise, sorry i cant help but Im interested to know what the otherwise deductible rule is or what its for?

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    September 7, 2008 - 5:08 am

    Hi Richard, are most of the banks like cba on this and have i been just lucky with ING?

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    September 7, 2008 - 4:36 am

    Hi not so lucky,

    I assumed most banks would allow this, after all there are a lot of investors who put titles in the name of for eg. the lower income earner or the higher one for negative gearing benefits or +ve cashflow tax reduduction.

    I have done this before (2 names on loan, 1 on title) and the only thing they asked (ING) is that we have signed declarations from an accountant and lawyer to say they explained the pros and cons to us. Maybe cba will consider this too?

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    August 22, 2008 - 6:37 am

    thanks Richard and Gibbo.

    Richard i'll send numbers through, thanks.

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    August 22, 2008 - 5:29 am

    It would be ideal to get at least an 80% lvr and i have equity in other investments to draw on for the shortfall against the new loan. I would like to service half of the yearly loan interest costs (after rent income) out of existing equity and half from mine and partner's income. Partner is the higher earner and is in a permanent job. I am the one who is temping. I would prefer to go with a standard loan and provide both tax return financials however i have been told by a few other brokers that i need to get a permanent job for a loan even though i could provide a consistent work history through temping.  We need to have both incomes for loan servicing.

    Over 3 years back i was in perm job and partner was contracting between 6-12mth contracts and since he was in the same industry for the work we were able to get a normal loan with no probs. Why is it that temping cant be treated the same?

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    May 11, 2008 - 3:29 am

    Hi Ng,
    for your price range i think with the market at the moment you could find a few properties in the Armadale area. I have a few investments in the area myself and I believe the area still has more potential.

    There is a redevelopment authority that has been there for a few years who have been working on lifting profile of the area. Its not a great website but will give you some idea of whats happening there. http://www.ara.wa.gov.au or another one is http://www.wungongurbanwater.com.au.

    You could still buy a nice duplex half or villa for around $250k and i would suggest within walkin distance to the shopping centre is ideal.

    Good luck! :)

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    April 27, 2008 - 7:09 am

    Thanks for your replies, we will calm down – its our first live in home and we have not heard of this or experienced it before.

    I guess the neighbour just wanted to point it out to us for his peace of mind or whatever reason cos he was not concerned and wasn't asking for anything. I was thinking more in terms of if he sold it etc. But if an issue did arise we would check the facts of what he is claiming.

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    April 26, 2008 - 5:37 am

    So are there no more lo doc loans requiring just the 1 or 2 day ABN ?

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    April 5, 2008 - 2:28 am

    This may also be of assistance – http://law.ato.gov.au/atolaw/view.htm?locid='TXR/TR20002/NAT/ATO'&PiT=99991231235958

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    April 5, 2008 - 2:15 am

    As far as i was told by my accountant, it is fine to have one loan account relating to separate IP's (u could even have PPOR in there) but as long as you can account for each of the different expenditure with receipts, dates, account reconciliations etc, they will just apportion the expenses to the separate properties.

    Sub accounts are set up i guess to cut out this fiddling around at tax time but otherwise i think you are fine to do it.

    Hope that helps.

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