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  • Profile photo of Richard TaylorRichard Taylor
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    August 4, 2007 - 9:34 pm

    Dependant on the current lender is you may find that they will not do a construction loan as some nodoc / lodoc lenders will not.

    Also hard to comment without any specific information on what you currently have.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    August 4, 2007 - 9:32 pm

    I am not Gold Coast based but have many clients all over SE Qld and hold a decent property portfolio myself so understand the needs of investors.

    Shoot me an email and I would be happy to offer some suggestions and assistance.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    August 3, 2007 - 4:14 am

    This so called crash has bought the All Ord's back to where it was in Feb 07.

    Hardly a ripple in the water. There is more to come but this can only be good news as it gives shorting opportunities on the way down and then buying  thereafter.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    August 3, 2007 - 4:10 am

    Your position shouldnt be too much of a problem dependant on what the LVR requirement is.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    August 3, 2007 - 12:35 am

    You wont be able to borrow too much against the security of the business unless it has a freehold security of some sort.

    Certainly with certain lenders you can use a residential property to raise funds for business purposes.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    August 1, 2007 - 9:44 am

    Yes good isnt it if you have been short for a fortnight.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    August 1, 2007 - 2:02 am

    Yes you should be able to do on a nodoc / lodoc bridging basis with the interest capitalised as long as the total LVR does not exceed 76%.

    By the way holding the property for 6 months will not illiminate the CGT.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 31, 2007 - 11:32 pm

    The 10% discount Capital Gain rate is only applicable if the asset is held for 366 days otherwise it is also taxed at 15%.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 31, 2007 - 11:30 pm

    Will the new house be a PPOR or a reno ?

    Can you show evidence of income to support the end loan.

    If so then it should be fairly straight forward.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 31, 2007 - 11:24 pm

    100% investment loans are readily available.

    There is no credit scoring at all in Australia although a clear Veda Advantage report will be required.

    In all cases income verification is required.

    Richard Taylor | Australia's leading private lender

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    July 31, 2007 - 5:26 am

    Yes you are right Blue it is a standard Put & Call Deed however the explanation by Hutch was a little off and the facts not quiet correct in regards to costs depending on which State you are in.

    In Qld for example there is no stamp duty payable on the Option Contract at all.

    We use P & C Deeds for a lot of our developmments but unlikely to be accepted by the average mum annd dad vendor on a simple residential deal. 

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 31, 2007 - 5:19 am

    Wow what a sweeping statement

     Ask any settlement clerk (or conveyancer) in the country, what the Number 1 reason for settlement delays or postponements is…..and hands down they will tell you one of the settling parties are going through a broker. 

    I have to say i totally disagree with you. In most cases it is the settlement departments of the lenders requiring a given time frame to book in settlement and most purchasers solicitors not complying with this or documents returned incorrectly or borrowers not advising their current lender they are refinancing or doing a partial discharge.

    Whilst a decent broker will follow through the whole process he / she will have little control over the settlement process.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 31, 2007 - 5:14 am

    Some lenders take 100% of the rent into consideration where they are not taking the property as security and calculate your repayments at the actual charged rate rather than using a sensitised rate. 

    This alone will increase your serviceability Big Time.

    Richard Taylor | Australia's leading private lender

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    July 31, 2007 - 1:42 am

    May seem like a good strategy if it was legal.

    Unfortunately you are unable to transfer residential property into your SMSF.

    Certainly you can buy a residential property in your Super Fund however you cannot transfer a property like you can a Commercial security or share portfolio so a sale will trigger CGT.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 30, 2007 - 11:28 am

    Sound like a case of cross collaterilisation itus.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 30, 2007 - 3:58 am

    Certainly does.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 30, 2007 - 2:10 am

    Hi Cameron

    Point taken. Must admit hardly ever do a deal with NAB.

    Cheers for the update.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 29, 2007 - 9:44 pm

    Which State are you referring to.

    If in Qld I can help you there.

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 29, 2007 - 9:05 am

    I have been involved in raising funds for both our own projects and on behalf of other investors over the last 10 years so am aware of the Managed Investment Requirment 

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 29, 2007 - 3:14 am

    raddles is correct a residential property cannot be transferred into your SMSF.

    Certainly you can purchase a resdiential property within the SMSF but not transfer the security in like you can a commercial property or share portfolio. 

    Richard Taylor | Australia's leading private lender

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