Forum Replies Created
Paul,
If the new place is to be your PPOR then change your current loan to IO and start saving a deposit. By all means buy it now using equity but only pay down the PPOR loan.
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 depends entirely on your timeframes and comfort.
But for tax effectiveness borrow the deposit as well and pay what you save into your PPOR loan.
Maximise the IP debt and minimise the PPOR debt.
I can explain further if 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.
Sandy,
Are you 100% sure you cannot get it on your own?
Please post some detail, conntact a good broker or email me.
I would hate to see you enter into a vendor finance agreement if you don’t need to.
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.
Yes.
http://www.mortgagehunter.com.au/first-home-owner-grant.html
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 am pretty sure that the CGT exemption applies to your home.
Check it out at the ATO.
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.
Darren,
Have you exhausted all options for buying into a property yourself?
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.
Bruce,
You can get the FHOG after buying an IP in this situation.
Check
http://www.mortgagehunter.com.au/first-home-owner-grant.html
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.
Lucifer has made some very valid points.
This can be achieved if she has a high enough deposit.
Can you provide some figures that we can look at?
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.
Does he have a serious buyer or is he just trawling for a listing?
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.
Personally I would buy the home first. But there are many variables and itis a decision you need to weigh carefully.
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.
Nat,
Your analogy is flawed. If you dispose of a car or no longer require insurance during the insured period then you will get a refund of any unused premium.
The same applies to LMI.
I have clients who have been successful in getting a partial trefund under certain circumstances.
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 often use the NAB even though they apy a fraction of the brokerage others do. Why? They are often more understanding when a deal is a little unusual.
I think they are great.
My priority is to get the loan placed with the lender that best satifies the clients needs. I usually get paid something down the line but sometimes nothing if the lender doesn’t use a broker. But what goes around comes around and I always find my clients referring others 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.
One safe place that many folks use is http://www.ingdirect.com.au
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.
Keep in mind that most banks require a 6 month savings history.
If you pay out the ATO in one hit you will need to start this over.
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.
However there is no requirement to wait any minimum period before a next purchase.
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 had this recently. We switched to another lender who’s valuer “found” another $60K iot win the deal.
I can only suggest you ask your broker for a lender with a compliant valuer. He should have one he uses for these cases.
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 may be an avenue but I would need figures to see if it would work.
Ask him to email or call me if he is interested.
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 wonder if Queanbeyan will get a bit of a nudge along from the ACT first home buyers?
Might be worth a look.
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.
Does he have someone who can help him out with a personal loan or some equity?
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.
Shushar,
I wouldn’t use the word laziness.
We all have our favourite products to suit certain situations.
I imagine like many things we use 20% of our lenders for 80% of our clients.
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.
