Terry,

I think they can do cocktail loans with a combination of lending as you described topped up with private funds.

I imagine it would be at a significantly higher rate.

Also a 100% lend may be possible if the client has additional security as you know.

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.

TC,

Very good 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.

Sorry I meant three.

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.

Every commercial deal is assessed individually.

You will need to contact a commercial broker to have him assess the deal.

If you cannot find one then email me and I will refer you to someone I use.

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.

Six years is from when you move out and start renting it out.

If you buy another place to live in then you have to change the exemption to the new one.

The exception is if you sell the original one then they can overlap for up to 6 months.

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.

Eski,

If your total loan size is 65% or less of both property valuations then a NODOC is possible.

But talk to a broker first and find out exactly what your options are.

I don’t like to give advice without sufficient detail.

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.

Toowoomba is a great little spot. I lived there about 15 years ago!

I imagine you will easily buy a great renovator there with your funds.

You can also explore the area around there and collect a few IPs as well!

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 are ideally placed to buy a renovator and do it up whilst you live there.

Any profit you make will be tax free as it is your home.

Also depends which city you are off to? I imagine $400K goes a long way in Hobart but would buy a pretty average home in Sydney[]

All the best,

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 the funds were paid additional into a loan then redrawing them creates a new loan. The purpose of this loan determines deductibility. If for a PPOR then the answer is no.

If, however the additional funds were in an offset account then the original loan is preserved and the funds can be used as you wish.

This doesn’t help you.

Where it is good is if you are paying down a PPOR and decide to upgrade it by buying a new one and renting the old one.

By drawing the equity for a new home it isn’t deductible.

If, however the old PPOR was IO and extra repayments were made into an offset account then the offset amount may be used freely.

There is no way you can draw the equity (capital growth) from an IP and use it for your PPOR. Unless of course you sell it. You can sell it to a trust or a spouse and borrow 105% to do so.

You will incur stamp duty again so weigh it up carefully.

Hope this helps,

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.