newday7

newday7 replied to the topic Caveat on Title in the forum Help Needed! 14 years, 3 months 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, 3 months 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, 3 months 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, 3 months 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, 3 months 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]