As Terry has mentioned they are and far between at the moment.

Have done a few over the last couple of months and it is more a case by case answer than something that is written into policy.

Sell the property into Trust as mentioned previously.

There wont be any CGT as it was formally a PPOR but Yes there will be Stamp Duty.

It all depends on a number of conditions as to whether it is worth it.

You cant.

I think Vicky was referring to the fact that it was only possible if they were strata titled.

Hi Paulie

Yes you are right you certainly have a fair amount of equity so need to structure it correctly to maximise the use.

Depending on how active you want to be in your investing path will determine the strategy for going forward.

I would be looking at taking out a line of credit against the security of your PPOR from which you will draw down the 20% deposit and acquisition costs for each new IP.

Then probably with a separate lender you would look to fund 80% of the new purchase price on interest only.

Structuring the deal you would look to buy either in your sole name or as tenants in common with you holding say 99% of the shares.

There are a few other strategies depending on your future income whether the property will be positively / negatively geared etc etc but unfortunately it is not a matter of one hat fits all.

Each client has individual requirements.

Hard to comment as i dont now what he will do.

I now what we would do but cant comment for someone else.

Has he not given you a copy of the FHOG form with your details on it.

Hate to be the bearer of bad news but non of the interest on the new loan will be tax deductible as the purpose of the new funds is not for investment.

The security offered is imaterial the ATO look at the purpose of the borrowings.

Only alternatve would be to look at crunching the numbers on selling the property to a Unit Trust where you both are Unit holders.

Terry is bang on but you need to be a wee bit careful as most lenders now want to sight where the deposit funds are coming from so might have to just box a little clever.

Hate to say mortgage insurers do not like Professional sportman due to the nature of their Contracts.

Anyway good luck.

Not in todays climate.

Maybe if the mortgage was registered after the first mortgage was registered then they wouldnt be aware of the loan however would want you to show you had sufficient funds to settle on the deal by sighting your savings statements or availble credit thru a line of credit.

How many times can you post the same answers …………..