Get Rich

It would depend on a lot of factors however ideally a lender that helps you grow and grows with you.

Sausage factories like Mortgage Choice merely place loans with whoever they deem fit.

Most of the consultants have limited knowledge on structures on how to get the most out of a loan and take the easy route.

Just make sure they dont recommend a non traditional securitised lender who pays them a nice fat commission.

Get rich

Hate to say you will certainly not find our mates at the NAB as competitive as many others especially if you intend to eventually rent the property out down the track.

Due to the banks size interest rate negotiation is not high on the agenda and the rijid way they do things is slightly behind the 8 ball.

I certainly use the bank for deals but there are other reasons.

You could do better.

Gav,

I think you will the value of the asset at the time of the sale will treated as hers rather than mere disposal figure.

Under the Assets Test you are only able to Transfer an asset to a related party where you receive a financial benefit when the valuation of the asset is taken into account and not the amount of consideration.

This stops you selling you property to your son or daughter or Trust to claim a higher pension allowance. 

Ben, Yes certainly does.

Just remember the requirement to be GST registered is a turnover > 75,000 not an income. Big difference.

DaFiz

Yes you are better of to use the Banks money for a non tax deductible expense and your money to offset or reduce your own home loan.

Without knowing the details of the property (age, amount of depreciation available etc) i am unable to advise you what the weekly shortfall would be but you are not going to be a million miles away.

Remember any loan costs and mortgage stamp duty (if payable) are deductible over a 5 year period or the term of the loan whichever is the shorter. Whilst these are borrowed upfront they will be able to be offset against your Taxable Income immediately.

These deals are done on a deal by deal basis.

Normally you are looking at circa 67-75% of GR, interest rates can vary from 9.5- 20% depending on the strength of the deal and on how much mez funding is involved.

If you have equity in another security why not use a line of credit rather than a deposit bond.

Mary, I am glad you feel it is working for you but I hate to say that you would not have saved $7000 in your first year. As both Alistair and I have pointed out before any broker would have provided you with the same service for nothing.

Brett

A good mortgage broker will be able to do this for you for nothing for you asit is part of their service.

Make sure you find one who is experienced in Trust & loan structures as when you buy a new PPOR the interest on the loan will not normally be tax deductible. If the existing property is sold to a Trust structure then there are ways around this.

On your sorts of combined incomes a nice portfolio should easily be achieveable.

Let us know if you need any advice.

Dan

In the case where you are borrowing 100% + on the security of the purchased property alone you will not find any lender will advance any of the funds until such time as settlement has taken place and he has title to the property hence i would suggestion your broker has suggested a Deposit Bond.

If you are also offering equity in another property as additional security then you would be able to draw down on the equity prior to settlement.

Also watch out for the early repayment penalties on a 100% + loan as they will be high. Not aware of any lender that advances renovation costs on the security of the property itself upfront so your broker maybe confused as to what you are trying to achieve.