Forum Replies Created
Hi Carol
Good to hear.
Yes he is very Professional in the way he works and hopefully if you go that route he can assist.Always good to hear good feedback.
Richard Taylor | Australia's leading private lender
Yes got to watch these scams.
Anyway have to go as I have just heard that i have won the Irish Lottery and need to send them an email with my Bank Acocunt details to they can deposit the funds directly.
Very friendly customer service. And the best part is i was drawn out at random and didnt even have to buy a ticket.
Richard Taylor | Australia's leading private lender
Ok point taken. Assumed it had to be credit or lack of savings.
Not sure you will find any lender knowingly allow the deposit to be borrowed from the Vendor these days so dropping the loan back 80% wont do you much good anyway.
Richard Taylor | Australia's leading private lender
Please advise why you cannot get finance from a traditional source ?
Is it income, credit, lack of savings etc etc etc
Most traditional lenders will not allow the 20% deposit to be borrowed even at a 80% lend so i am curious as to why you think this way would be easier.
Even though the loan in most cases at 80% or less is not mortgage insured there are other considerations which lenders will look at.
If you look at an instalment contract you will not receive the First Home Owners Grant at Settlement so i can understand why you dont want to go that way but wonder why you believe a VF loan will be easier.
Richard Taylor | Australia's leading private lender
Alistair Yes thanks for that started in 1984 in the UK and 1994 here in Oz but i guess ASIC doesnt show that when you do a Company Search.
I thing we are all still waiting for Michael to tell us what or who he is in depth.
Richard Taylor | Australia's leading private lender
Jean & Mel
As the purchaser you are legally required to pay the Stamp Duty 30 days after the Instalment Contract date and not on the date of settlement which could be 25 years time.
Richard Taylor | Australia's leading private lender
Hi John
Maybe the FHOG will have something to do with it but also supply and demand from investors at the cheaper end of the market.
In a nutshell everything is getting snapped up.
Yes the Disclosure Statement from the Seller should have details on the Body Corporate or alternatively merely request a copy of the last AGM Minutes and see for yourself.
Richard Taylor | Australia's leading private lender
Hi Matt
Sorry firstly let me just adjust my eyesight after having read the above post. (Caps lock release button is the one on the left next to the letter A).
I dont want to appear flipant but you have asked about a dozen questions in your post and to answer them in a 1 line post would not do the question justice.
Your summary of purchasing in a Company name is correct and switching any existing asset class to Trust ownership will trigger both CGT as well as Stamp Duty depending on what it is so not worth considering.
There are some options about doing a project in the Pty Ltd name however i am not sure I would be confortable about using the same vehicle for your investing as you have used for your business.
Really should be checking with your Accountant about such an action.
Richard Taylor | Australia's leading private lender
Hi Jaz
Sorry cant recommend anyone in Melbourne but for Brissie and SE Qld why not try
Tony de Latour at Results Realty
0403 115 973
email me at [email protected] to be put on our list.
http://www.resultsrealty.net.au
Tony is a forum member and regularly contributes to posts raised by members.
Richard Taylor | Australia's leading private lender
OMG A Bank manager told you it could be ok.
Heard it all now.
Another reason not to listen to your Bank but to your Accountant instead.
Next thing they will be trying to convince us the world is flat.
Richard Taylor | Australia's leading private lender
Suprised it hasnt been suggested we rebate all of our upfront and trail commission back to the borrower.
Richard Taylor | Australia's leading private lender
No worries John.
Just emailed this back to you.
Richard Taylor | Australia's leading private lender
Wise
Hate to say your Broker is right in that Mac Bank withdrew from the lending market well over a year ago now and is merely managing the loans that it has and looking at exiting the market as quickly as possible. They are not considering any new advances whatsover.
Must say i have to disagree with you in your statement that every new loan has large establishment fees / ongoing costs.
The Mac Bank full doc loan was never that competitive and even now unless the loan amount is well over $1M most existing clients can save $$$ by refinancing elsewhere.
It is a matter of horses for courses and Mac B wanted the Lodoc / Nodoc market so ended up with those jockeys to ride.
Richard Taylor | Australia's leading private lender
SM
No worries that makes sense why i couldnt find it.
Just emailed it thru to you.
Richard Taylor | Australia's leading private lender
SM
No dramas i sending you another report but it doesnt like the address you have given me as there doesnt appear to be Poplar Pde in Risdon Vale only Youngtown.
Shoot me an email and let me now and I can do it straight away.
Richard Taylor | Australia's leading private lender
Why not try someone like
Alan FoxReal Estate Buyers Agent Propertunity Pty Ltd "Investigating Opportunity In Property"
| E: [email protected]
Phone: 0407 933 500Alan is a forum member based in NSW and has acted for dozens of my clients in locating them a property.
In fact i am financing a deal for him right now where the client is buying in the Newcastle area.Give him a ring and tell him i sent you and I am sure he will look after you.
Richard Taylor | Australia's leading private lender
YI
Hardly any difference in setting cost at all.
Adding a Corporate Trustee will add a little to the bill but not much.
Richard Taylor | Australia's leading private lender
No worries Ben.
Richard Taylor | Australia's leading private lender
Ok sorry cant help you there.
Richard Taylor | Australia's leading private lender
Ring the local branch and ask them as i doubt they publish fixed rate movements on their website.
Altenatively your mortgage broker can probably tell you the changes from his own records.
Richard Taylor | Australia's leading private lender
