Surely we could use the land that is not common property as security for the loan?

Another question:I was thinking a small deposit from each owner would be sufficient to fund a construction loan and pay for the works. Would this be the best way? How could this be structured to minimise capital gains tax upon completion.Michael

Thanks Scott.I've considered most of the items you have mentioned. The only one I'm not certain about is if the existing structure has to be brought up to current BCA standards. Would this be a council requirement?Speaking with a town planner may be a good idea as a starting point. I'll investigate further.Michael

Thanks Guys,Do you know of any good spreadsheets available that would allow me to model different scenarios?I'd like to work out the pros and cons of paying off more of the loan now while I live at my current address.E.g. Paying more now reduces my interest payments in the short term but when I move and the property is rented out there will be…[Read more]