If it was me then I would borrow 100% of the purchase price and also purchase costs.

If there was no other suitable place for the $40K I would consider an offset account but would not put the money into redraw.

Regards,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

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 specif scenario doesn’t have enough detail for an answer. $150K income and a LVR under 80% sounds like it should be possible – depending on how much you wish to borrow.

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

They are general, up to a specific figure that you apply for.

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

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 often have OTPs come up from my developer clients.

Maybe I should start a email list for them as they come available?

What do people think?

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Why are you being advised to move to a LOC?

Is it a broker advising you?

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Might I urge you to sek preapproval before you offer?

Just avoids another deadline.

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

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 you didn’t buy another home then you have until 2010 before you have to pay any CGT.

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

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 lived in the house in 1997? For 12 months?

Assuming you didn’t own another home you have 6 years from when you moved out to sell with a full CGT exemption. If you occupied it again this 6 years starts again.

You will need to ascertain the total profit after all purchase and selling costs.

Pro rata it for the period after the CGT exemption. ie if you own it for 8 years and ran out of CGT exemption in the 7 th year then 1/8 the profit.

Halve this figure for the 50% discount as you held it for over 12 months.

Add this figure to your income and calculate the tax.

As you can see there are too many unknowns to give you an accurate idea.

Cheers,

Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.