In NSW if you are unable to move into your property within the first 12 months because you have work commitments preventing it, you can ask the OSR for an extension which can be granted if they see fit. But this would need to be done prior to the 12 months expiring and ideally as early as possible.  Best idea is to ring the OSR in your state and ask the question. I woudn't try to scam the OSR you would be stunned how easy it is to make a mistake as well as having to ensure you stay friendly with everybody you know.

Hydra

Hi Macnatt
You would also need to show you are able to reduce debt on your credit cd if you have one; meaning it is not maxed out and you are conscious of being able to comfortably reduce it.
Numerous enquiries on your CRA wouldn't help. If your after 95% LVR you would need to have far less activity than someone after a lower LVR. EXCELLENT JOB, very stable employment, If you have shown a capacity for savings as Richard suggests even better.
All up at 95% LVR if you can convince the LMI your " GOD " your'e in with a chance!!!

Hydra

Yes it was Margaret Lomas.
Her reasoning is mainly due to the impending infrastructure in the particular municipality. Apparently she physically makes appointments with various councils and flys all over Australia interviewing the manager for her research.

Hydra

Ask QLD007 for a property report and it will list about 40 comparable sales in the local area. Drive around and check them out doing your own roadside val.

Hydra

65ens
It may have had something to do with the postcode. It may help to check what LVR your'e allowed in that particular postcode.

Hydra

Nitro

All new customers with St George are able to apply for Negotiated Basic Home Loan. The idea is to attract new customers to the bank.
The 2 loans are exactly the same. The 09% discount is for the life of the loan. For current customers to be able to apply they need to increase their lending and then they can convert to the Neg. rate. Just remember a basic HL has minimal features.
But from my understanding it's there to attract new customers.

Hydra

Hi Richard,
Thankyou also from me.
As always your advice is very informative and professional. I appreciate your great support to this forum.
I have not been a member for long and I along with others really look forward to the help you provide
Hydra

Richard, would this help Mimi or not?
PPOR loan would be P/I with offset and 1 split
20% deposit placed in split, this money to come from PPOR loan account not offset.
Borrow 80% for IP at I/O
All 100% of IP purchase is identified, no problem with ATO and interest for all 100% of purchase tax deductible.
Rent from IP deposited straight into offset to help reduce non-deductible debt and of course interest is paid out  when due.
Have I got this right or not?
Appreciate your input
Hydramax 
,

Terry would investor sponge need the LOC if he had the 3 IO loans and an offset with the PPOR?

Would he and his wife be better to pour their salaries and all their rental incomes into the offset?

Would that maximise their deductions on non ded. debt and at the same time maximise the deductible benefit of the IO loans?

I value your input, and I may be wrong, would that be reasonable advice.

Hydramax

You could both apply and be on title, and just use his income for serviceability. Problem you will face is the large c/c limit.
The bank will automatically take 3% ie $400 per month from your serviceability which means you may not pass. You may also be up for LMI. If your credit cd limit is not maxed out have them reduced by ringing the bank, this will improve your serviceability.
Once the loan is settled ring the bank and have your cds increased to their previous limits. They will do it for you in 5 mins.