Forum Replies Created
No, But I have it open on my screen all day.
Is that what you are asking?
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
If you come into IPCHAT make sure you say hello to me!
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments 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 called a split. Whereas it is one loan the bank will seperate it on a statement to show Split 1, Split 2 etc. These can all relate to different loans and even to personal borrowings to make things easier at tax time.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
If you are using them to produce taxable income them should be deductible.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Milo,
If this is your plkan might I suggest you have splits on the loan which aportion directly to the existing loans. Then you can easily see where you are with each property.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Myydral,
The loan is the same.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Sonja,
Everything is open to justification.
Some lenders are better than others for different situations. If I knew your situation I might be able to suggest a lender who will be open to something.
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Gatsby,
I think you need to see a decent tax advisor ASAP.
I believe that you can claim holding costs incurred during a vacancy period if the property is available to rent.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
What do you do – find a lender that wants your business. Or find a broker who can do it for you. Both cost the same.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Absolutely will affect your serviceability.
You didn’t seek this increase so obviously you don’t need it.
Toss it in the same place as all the other junk mail you get.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
504 – The poison was in the ice
507 – 64 spaces
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Not without more details.
Can you email me the story?
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
This will be allowed as long as you meet all the criteria for the second lender.
Are you certain there isn’t a third lender who can give you everything you need at the most competitive rate?
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
If you allow the lease to expire many tenants are happy to go onto a month to month arrangement.
This will allow you to sell the property to both an investor or a home buyer.
Places often present better furnished than empty, but this will depend upon the tidiness and willingness of the tenant to allow agents and prospective buyers through.
Perhaps a rent discount might be an incentive here?
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Westan,
I can make it go away!
Anything else I can do for you?
[biggrin]
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Harro,
My figures above were just an example to show you how you can use your home equity without using (and risking) it as security.
Just introducing a concept.
Subsitute what figures you wish.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Harro,
This is what you need to consider.
Establish a facility against your home. Say $100K.
Draw 20% deposits from this and also costs.
Take seperate loans for each new property.
Result – all loans are deductible and your home isn’t used as security for anything but the $100K.
What do you think?
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
There are NODOC loans available from 6.85% and as Terry points out will be limited to 65% of the total value of both properties.
I am unsure whether a business setup will be required. You probaly need to speak to an accountant to ensure you have the most appropriate structure.
All the best with your plans.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
There are a couple on my website under links.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I believe that interest on capitalised interest is not deductible.
Please seek a tax experts advice on this one.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
