Hi BMW

PAYG Lodoc is available at 80% lvr at a rate of 9.55%.

Westpac now verify your ABN & GST and require this to 2 years +

Terry yes slightly typing error their. Comes of typing when your tired.

All night watching the Premier Leaugue and seeing Chelsea (wow) beat Man Utd doesnt make for ideal conditions to responding to questions.

Yes possible but whether your employer would be prepared to do that i doubt.

Other consideration is who is the Trustee of the Trust. If it is a personal trustee /s then when you distribute the funds from the Trust at year end the benficiary will be taxed at the rate at  their own marginal rate. If all of the funds are distributed to your wife then she will still be on the same marginal rate as you would be.

If you have a Corporate Trustee then you could possibly save yourself 16% off in Tax.

Barney

Nothing to stop you paying cash for a block of land using funds from your SMSF but be aware you are unable to do a geared construction loan under a SMSF due to the legislative restrictions. 

Yes how non conforming does the loan need to be ?

Keo

Which area in Brissie are you looking to buy in.

Have a couple of excellent buyer agents contacts that offer an excellent service to clients.

Wow 9.9% i can see why you want to refinance. Was the deal a lodoc deal ?

There are couple of things you could do depending on your current position in regards to other areas:

You could always look to refinance and then make interest only repayments 12 months in advance so you can cliam the deduction in this financial year. Certainly a consideration if your husband has had a good year and dependant on your tax position (I assume the property is Jointly Owned).

It is difficult to give you much information without further income / expenditure figures.

Hi Terry

When i was there (12 years ago) Banks paid around 0.4% commission and Brokers charged upto 1% Brokerage Fee. 

Dont agree at all.

Certainly a few of the smaller less experienced brokers will fall by the wayside but i believe we will start to follow the UK & US system where it is standard practice for a Broker to charge an upfront fee as well as receive a commission.

Although like Terry if Westpac shut up shop tomorrow wouldn't worry me in the slightest. SGB & NAB are about to follow suit and i think they all will reduce eventually.

The new FInance Bill will not eradicate Nodoc / Lodoc loans it will merely place more emphasis on a Broker to now the information he is providing to the lender is correct. I think it will be borrowers that loose out over Brokers.

Yes NSL and why would you bother when you can get 0.8% without really trying if the loan size is big enough.