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  • Profile photo of lealea
    Member
    @lea
    Join Date: 2004
    Post Count: 26
    February 5, 2004 - 12:50 am

    Thanks for the suggestion Nat. I’ve maxed out GE and PMI. I’ve also found two regular banks at 75% with no LMI. (ABL and ING)

    I’ve used St George, but at a 65% LVR client is not thrilled. He wanted higher LVR’s.

    I’ve got two non-conforming lenders thinking about it – but again, GE won’t play, coz of the MI already involved. Again, client is not thrilled about non-conforming lenders and their higher rates – he says it eats into his +ve profits and would prefer not to use this path.

    I’m thinking he doesn’t have much choice.
    [:I]

    Lea

    Remember: This post is just my ‘two cents’ and should not be construed as legal, financial, investment, taxation or even general advice in any way. Always seek independent advice pertinent to your OWN situation before jumping into the deep end.

    Profile photo of lealea
    Member
    @lea
    Join Date: 2004
    Post Count: 26
    February 5, 2004 - 12:29 am
    Originally posted by skidaveski:
    I am thinking of starting off by buying IP. Now I realise I don’t get FHOG for these, but when I come round to purchasing a property that I will live, am I still entitled to the FHOG at that point?
    Cheers!

    Honestly, I would check with your local Revenue dept. In South Australia, the FHOG application front page questions ask (among other things:

    “Are you a person who has NEVER owned a residential property?”

    “Are you a person who has never owned and lived in residential property?”

    “Do you intend to live in the home as your principal place of residence within 12 months of settlement date or completion of construction?”

    There are six questions on the front page in total – and you MUST answer yes to all six in order to receive the FHOG in SA.

    Of course, if you live elsewhere in Aus, then ignore this!

    Lea

    Remember: This post is just my ‘two cents’ and should not be construed as legal, financial, investment, taxation or even general advice in any way. Always seek independent advice pertinent to your OWN situation before jumping into the deep end.

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