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  • Profile photo of pg2205pg2205
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    @pg2205
    Join Date: 2007
    Post Count: 6

    Thanks everyone for your replies, much appreciated.

    Yes Richard I received a letter from one direct suggesting they are no longer taking on any new business. My loan (3yrs fixed) on my PPOR is currently fixed at 7.49% but that ends in Sept 2010. So I either have to wait until then, or talk to ANZ now and see what deal they can do for me to refinance without any penalties.

    Elisa yes the broker was trying to avoid LMI, but doing some quick numbers, I figured even if I paid LMI buying multiple properties (lets say I buy 2 properties using my equity at 90% and pay LMI) , the capital gain alone (using a conservative 5% growth per year) will outstrip the cost of LMI in its first year. I'm looking at buying next to booming areas of Melbourne (Coburg and Reservoir in Melbournes north) so capital appreciation isnt an issue now or in the long term.
    Thanks

    Profile photo of pg2205pg2205
    Participant
    @pg2205
    Join Date: 2007
    Post Count: 6

    thanks for your reply terryw.

    How could I structure it so I could limit my captial gains exposure?

    I am looking to do this on a regular basis (about every 2 years) but I want to make sure I am not whopped with a massive tax bill everytime I sell my home and move onto the next one.

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