newday7 replied to the topic Caveat on Title in the forum Help Needed! 14 years ago
Thanks Terry. I now understand this more. As I don't know the financial state of the person selling the property (except that she has moved interstate), I suppose, protecting my interest is important ……..somewhat like buying "insurance" for the "unexpected"? My conveyancer is charging $220 for me to lodge.newday7
newday7 replied to the topic Caveat on Title in the forum Help Needed! 14 years ago
Thanks heaps for the links, it is certainly very informative. I'd definitely consider lodging a caveat.Everyday I learn something new!
newday7 replied to the topic LOC for maintainence and repayment surplus in the forum Finance 14 years ago
Thanks Terry. Will do.newday7
newday7 replied to the topic LOC for maintainence and repayment surplus in the forum Terryw wrote:say you have 14 years ago
Terryw wrote:
say you have loan on your home and a loan on your IP. Your IP is rented and you have equity in your home and the ability to service and qualify for a LOC.What you could do, after careful structuring advice, is this:1. Put all rent from the IP into your 100% offset account attached to your home loan.2. Pay the interest on the IP…[Read more]newday7 replied to the topic Cross Collateralisation – IP Loan in the forum Help Needed! 14 years ago
Banker wrote:
RISK IF YOU CROSSIf you sell your PPOR and the investment property has reduced in value to 280k. The bank may ask you to reduce the loan to 80% of the reduced value of the investment. If you don’t understand your loan structure this can be confusing.Thanks Banker for pointing this out to me. Infact I do plan to sell my PPOR in t…[Read more]