OK They are an originator using funds from Bendigo Bank.

http://www.sapphiremortgageservices.com.au

Very competitive rates.

I am sorry but I have had no experience with them.

Let us know how they go.

Simon Macks
Mortgage Hunter
[email protected]
0425 228 985

Mary,

A bit hard to give any advice without specifics…

Are you saying you need another $10 000 equity to draw for the next purchase?

There are a few banks that value only to confirm that your valuation is in the ballpark. I have one banker I use that sent his valuer out again with the instruction to find another $40 K so the next deal would fly!

The best way is to be able to demonstrate a reason why the valuation should be higher ie added an extra bedroom or a carport or done other work.

Don’t forget you have two properties growing for you now!

Going to another lender may help but dare I suggest you find a broker that knows all the lenders well[]

Simon Macks
Mortgage Hunter
[email protected]
0425 228 985

Exploring Terry’s idea further perhaps you could build on them and realise a higher profit or keep them as rental properties?

Simon Macks
Mortgage Hunter
[email protected]
0425 228 985

Fellow Novocastrians,

Lets set this up.

Email me with the subject Newcastle Meeting and we can organise a sunday lunch at the Brewery or somewhere similar.

Or a BBQ at my house, I am fairly central in New Lambton and now that Spring is here and I am itching to fire the BBQ up.

I am an investor myself and well networked into the local market – I love talking property with like minded folk.

Simon Macks
Mortgage Hunter
[email protected]
0425 228 985

Lynchy,

You must be aware that your debt and equities are in the wrong places for tax effectiveness.

Ideally you need to be living in the property that is unencumbered….but that probably isn’t practical.

One suggestion is to transfer ownership of the unencumbered property to either a spouse or to a trust and take out a 100% loan on it which you use to pay out your home. This tidies up deductability. But it will be a CGT event and incur Stamp duty so only you and your accountant can decide if it is a solution worth considering.

Alternatively sell the unencumbered property and place the proceeds in your home loan. Then repurchase using 100% debt.

There are also LODOC loans available that are at standard market rates of 6.47%.

I hope you can find a solution without having to sell.

Simon Macks
Mortgage Hunter
[email protected]
0425 228 985

Harold,

I would recommend offset rather than redraw. That way if the property becomes an IP and you need the funds for a new PPOR then you will preserve the deductability.

I can recommend two lenders who will give you a LODOC at a normal Fulldoc rate so you wont need to wait two years for it to drop.

Good luck,

Simon Macks
Mortgage Hunter
[email protected]
0425 228 985

They will be multi level marketing or even pyramid selling. You will be required to enlist three or more folks under you and then help them do the same to build an expanding baseline.

To then build the cash to pay everyone you will each need to either invest a sum of money or buy products on a monthly basis.

It isn’t an easy path to wealth. They will make it sound easy to find three people then all they have to do is find three etc etc but the reality is that most people fail and make little or no money.

But if you do suceed then you it will be because you are a great salesman and able to motivate people to do things they don’t feel like doing!

Can be a great learning ground.

Good luck

Simon Macks
Mortgage Hunter
[email protected]
0425 228 985

aiyaaz,

I wont go into the problems faced with enforcing family agreements like this.

You need to consider whether you think the market is going to continue to climb or settle down.

If you thing the prices will rise then you would be better buying at todays prices.

One idea might be for you to keep the money in the family members offset thereby helping them in the short term until you are ready to buy.

Good luck,

Simon Macks
Mortgage Hunter
[email protected]
0425 228 985

Aruna,

You are correct except I am not too certain about the second 6 year period. I think you may need to reoccupy it between the two periods.

Cheers,

Simon Macks
Mortgage Hunter
[email protected]
0425 228 985

We were just talking about this the other day.

Our newspapers are starting to be filled with ads for share, options and futures trading seminars. Is this the smart scammers moving into the next boom?

Cheers

Simon Macks
Mortgage Hunter
[email protected]
0425 228 985