Forum Replies Created
Well done mate.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
If the repairs are being done to bring it back to the standard it was when first rented the they are deductable.
Otherwise as Monopoly suggested they may offset the CGT – or even a combination of both.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
It is exactly how the Chinese spoke in Malaysia when we lived there – they called it Manglish…..some suggested this meant Malay English others Mangled English!
They poke more fun at it than we do!
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Karen,
Any of the brokers will be able to give your situation a look from a new perspective.
Please give one of us a call just to see if we can make any other suggestions.
I hope it all works out,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
This is correct.
It is considered as paying off the loan. Taking it back out is seen as a new loan and the purpose wil determine the deductibility.
Redraw is the same.
An offset is the only safe place.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
You need to speak to a mortgage broker. There are too many variables to give a reasonable reply here given the information provided.
Perhaps you have enough equity for a loan? If rent is high enough to service the debt?
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Not all lenders are the same.
Some are very flexible – esp if LMI isn’t required.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I have a LODOC/NODOC at 6.85%…possibly the same product.
It will be Mortgage Insured even below 80%
Also check the deferred establishment fee.
It is a great product all the same – esp the NODOC which has got several of my clients out of bother in the past.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
After the IO period has finished the repayments are caculated over the remaining term.
This means the P&I repayments will be higher as the loan has 5 years less term to be repaid than would have been the case had you not gone IO.
This can often be enough to make serviceability fail if things were close to start with.
Hope my explanation makes sense.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I have had clients ask for a IO loan and the MI came back with the requirement for a P&I product.
Your broker may be telling the truth here mate.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Nope.
Only repairs to bring the property back to the condition it was in when it was first rented.
All is not lost though. Can claim it against CGT when you do sell – if CGT is payable.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Write to your lender requesting it.
Explain the reasons why.
It will take a while to get through but is possible.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Unless the money is spent repairing wear and tear or damage as a result of tenancy money spent isn’t deductable.
So in a year or two you should be able to claim minor repairs.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
That poor lady that sued mcdonalds has been ridiculed by them as part of their defence against the lawsuit.
The Judge was horrified that McDonalds were superheating the coffee with steam so it stayed hot on the servery longer. The doctor who treated her said he had never seen such burns and she needed skin grafts etc and was scarred for life. He awarded punitive damages because of McDonalds behaviour towards the poor woman.
They made her out to be an idiot in their defence and unfortunately the popular press over there jumped on it.
Some of those other cases aren’t really true I suspect. That cruise control one has been doing the rounds for years now.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Read the legislation for yourself at:
http://www.mortgagehunter.com.au/first-home-owner-grant.html
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Age discrimination is a thing of the past with most lenders.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Is a hard one for sure.
I am not sure how I would have approached it.
Glad I wasn’t the agent involved.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Go for 30 years.
You can pay more as you choose.
But your minimum payment will be lower which is handy when planning for your next purchases.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Equity.
As the values of the properties rise, the loan can be increased and the new amount used as a deposit.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Contact an insurance broker.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
