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  • Profile photo of Richard TaylorRichard Taylor
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    July 24, 2014 - 11:27 pm

    Yes the interest would be Tax deductible at the rate your Mother in law is charging you.

    I assume that this is the same rate as she is paying on her loan.

    Fairly standard way of structuring.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 24, 2014 - 11:25 pm

    I am sure they either charge for their wonderful magic service or have something they sell you along the way.

    There are many ways to reduce your non tax deductible debt but buying over priced new property thru a marketing firm or refinancing to a line of credit etc are not recommended.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 20, 2014 - 11:01 pm

    Hi James

    Welcome to the forum and i hope you enjoy your time with us.

    Ensure that the sub loan secured against your PPOR is a separate loan and then you can look at a standalone loan on the new IP.

    With the equity you have in your PPOR you could always look at increasing the sub loan and looking at investing in a higher cash flow investment at the same using the increased income to pay down your non deductible debt.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 20, 2014 - 10:55 pm

    Thanks Jamie appreciate the comment.

    Jac is not buying in Newcastle at the moment but covering plenty of other areas.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 20, 2014 - 4:57 pm

    Hi David
    Big difference between a loan adviser or mortgage broker / financial planner so make sure you don’t mix up the 2 roles.

    Some of us are also Financial Planners but in the main they perform different functions.

    Probably need to see a Financial Planner face to face but not so a loan adviser / mortgage broker.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 18, 2014 - 9:47 pm

    At a 70% lvr you should be able to obtain a competitive rate especially if you are looking at fixing the rate.

    Done a couple of deals recently in the mid 5’s.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 17, 2014 - 9:45 am

    Hi Stephan

    It will depend on the lender.

    Some lenders will service the external borrowings at the actual rate / repayment whilst others will calculate it using a sensitised rate.

    Your Broker will be able to advise you.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 14, 2014 - 6:41 pm

    Nope wont help the situation at all unless they are also party to the Title.

    We do a lot of short term finance deals for flippers and developers.

    Sure the rate of interest is not cheap but you factor it in to your profit.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 10, 2014 - 10:24 pm

    Hi Mark

    If you post the information here we can assist you with the assessment.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 10, 2014 - 10:22 pm

    Appg happy to refer someone to you if you are happy to go to the Coast.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 10, 2014 - 10:16 pm

    Hi appg

    Point 1 – bang on
    Point 2 – Your Broker / Bank should help here.
    Point 3 – If you will go as far as the Gold Coast (You can claim the travel cost) let me know and I can recommend someone.
    Point 4 – No need to do this however you will need to change your postal address.
    Point 5 – No other than the address. In Brisbane you will be rates slightly differently anyway so they will be very happy to hear from you.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 10, 2014 - 10:10 pm

    If it does not increase your borrowing amount it will reduce your living allowance expenses which nets out to be positive going forward.

    Cheers

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    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 8, 2014 - 8:02 pm

    Driven it is called Spam.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 6, 2014 - 10:17 pm

    Would be neglible. Some lenders would not factor in your C/c limit if you have paid the balance outstanding on time 3 months running.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 6, 2014 - 6:17 pm

    Given that the Broker is giving you his time and expertise for free i think it would be an insult to go approach 2 separate Brokers and see which one comes up best.

    A good Broker will be able to give you a pretty good estimate of what you can borrow without making a full application.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 5, 2014 - 11:34 pm

    Just arranged finance for a forum member on a 8 pack at 80% lvr at resi rates and he had never purchased at investment property before.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    July 5, 2014 - 11:29 pm

    Simply ask the NAB Bank Manager if he will put in writing that if you draw the funds into an offset account for you the interest will still be deductible.

    Me thinks he talks the talks but won’t walk the walk.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    June 29, 2014 - 10:49 pm

    Depreciation, tax deductable expenses, income tax withholding variation, capitalising of interest.

    Non of these are taken into consideration on either a pre-approval or a formal approval as lenders ignore them when calculating serviceability.

    In regards to the potential rent lenders in the main will take their valuers rental assessment of the property as far as serviceability is concerned unless the property is already tenanted.

    Your Broker can factor in a standard yield return when working out how much you can borrow.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    June 28, 2014 - 9:20 pm

    Tomo, That is what a Mortgage Broker does for a living so i doubt any of us will be telling you which lender to approach directly.

    Not convinced you will find Gemworth touch it with a barge pole especially at 95% lvr.

    Why don’t you approach Mick C and get him to look after the deal for you.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    June 28, 2014 - 5:38 pm

    Hi Steve

    Yes hate to say under the SISA legislation that is correct.

    Some of the rules are crazy especially when you get into area of “in house assets”.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

Viewing 20 posts - 961 through 980 (of 11,968 total)
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