Not as optimistic as Terry.

There none that i am aware of.

I agree with Asia and the like but not the US or UK.

On the basis that you have no non decuctible personal debt then set up a 100% offset account and place the funds in there.

You will have the double advantage of having the funds at call but also receiving the same rate of interest as you are being charged on your mortgage account tax free.

Also try and trim back that interest rate you are currently paying as it is higher than the norm.

Mr FG

I would take the 11.5% PA.
We charge considerably more than that on our SMSF loan book and have no problems filling the quota each month.

Also with all of our wraps and we have a few more than 15 we had Anz provide us with a totally unsecured overdraft facility for  times such as this where we could write a cheque and settle and they could worry about the letter of offer and mortgage documents when their systems allowed for it. Might be worth getting CBA to offer you similar.

I am with Foundation at 10% per month i might be interested.

My SMSF looks at opportunities for a quick turnaround. Be interested to see a Balance Sheet for the Company. 

Hi Wodnee

Firstly welcome to the forum and congratulations on your forthcoming engagement.

On the basis that you are both going to live in the new property this will be your PPOR and the property in West Brunswick wil be an IP. I am unsure as to whether her boys will be paying any rent on the property (and if so will this be market rent) so it is difficult to now the extent to which she will receive an entitlement to any negative gearing deductions.

Unfortunately the way you want to proceed means that the interest on your new home will not be tax deductible as the purpose of the loan is for owner occupied use. 

However in saying this the structure of the loan is important given your idea to possible retain both properties down the track.

With regards to the CGT concession she is entitled to this may help:

The first major point of the six-year rule is that you cannot apply it until after you’ve lived in the house. Factors the Australian Tax Office (ATO) considers relevant in determining if you have lived in a house include your address on the electoral roll, where your family resides, whether utilities are connected in your name and where your personal effects are kept.

Assuming you’ve lived in the home, you can rent it out for up to six years at a time and continue to give it your main residence exemption. Of course during this time you cannot exempt another property as your main residence even if you’re living in it. Couples are only entitled to one main residence between them. If you move back in after renting the property out for six years and then move out and rent it again you’re entitled to another six years and so on.

If you vacate the property for more than six years in a row you can still use the six-year rule to exempt it for the first six years.

Let’s assume you have “property one” which you’ve lived in since you purchased it and “property two” which has been a rental property since you purchased it. Due to urban renewal that has just begun around property one, you expect it to make better capital gains and earn a better rent than property two. So you decide to move from property one into property two. By leaving your main residence exemption with property one, in six years’ time you could sell it and not be subject to any capital gains tax (CGT) on it.

If you ever sell property two you will be subject to CGT on it for the period you owned property one. You can move your main residence exemption across to property two as soon as you have sold property one. You don’t have to move back into property one before you sell it, nor do you have to justify to the ATO why you arranged your affairs that way, it is your choice.

You don’t have to decide which property is covered by your main residence exemption until you prepare your tax return for the year you sell property one. If you intend to live in property two for the rest of your life, the sleeping CGT liability on it will never bother you or your heirs.

Hope this helps.

Xpine

As this was before yesterday decision by SG

Today French giant Societe General have pulled the plug on funding many smaller lenders in Australia including:

Members Equity / AMP / Resimac / and a host of smaller mortgage managers.

Guess the lending market is getting smaller by the day.

As a Director of Qlds largest provider of Vendor Finance with First Home Owners Group Pty Ltd I like to thing all of the deal we have done over the last 10 years have been ethical.

Only yesterday i was checking out an interest rate for a credit imparied client wanting to go lodoc on a rural property to be quoted 14.75% by 1 non conforming lender. At a margin over the Cash Rate i think we are Angels in comparison.

One issue has been the rising price of property in most of the major towns making affordability difficult for many first home buyers. Whilst the regional towns have also enjoyed good growth over the last 5-6 years you cannot compare one with the other.

If you are starting out on your wrapping career you need to work out a business plan and how many deals you really intend or feel you can do. To do a couple is probably not worth the time or energy for you or your introducers. Just as they get warm to the idea you will be pulling the pin.

There is not much educational material written about VF arrangements so talk to a few people in your area who have offered the product and see what they have to say about the results.

The introduction of Short Selling was the best thing that ever happened to a Trader / Investor as you can play both sides of the market.

One thing is for sure you make money quicker on the way down than you do on the way especially if you are on the right side of the market.

Having spent over 25 years in the markets and 9 years of that in the UK on the Trading Floor in London this Bear market (And Yes i was there in 87) is not like any seen before.

Many young and inexperienced investors have never seen share values fall as quickly and this time around it is not only the mums and dads who are running for the hills in fear of protecting their capital but also some of the larger Fund Managers.

The market is made up of tqo types of stocks those that have fallen from grace and favour and lost investor a lot of money and those that are sitting on or above all time highs.

Yes there are stocks you can buy and make money on them but there are just as many you can loose on.

Seek professional advice before you through 10K into the market on a couple of so called Blue Chips.

By the way with the amount you are considering investing you wont buy many of the mentioned stocks due to their current prices still be a high $$$ amount.

Yes it would be a ME issue as this si not the norm.

The circumstances under which you withdraw upon your Super are extremely limited and extreem hardship is one of the cases. 

Switching lenders and getting a better LVr would be easier.