Thanks Kris & Amanda for the words of praise.

You are so right electonic communication has a lot to answer.

If you tell me what you are trying to achieve cathy would be happy to help.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
New Shared Equity scheme has arrived – Email us for details.

Hi LC

Yes to both questions.

Dependant on the stock you are holding in your share portfolio you would be able to margin loan to a level of between 70-80% although the rate maybe slightly higher than a good lodoc loan secured against your IP.

Be careful not to use the redraw facility on your current loan but try and establish a separate LOC or IP loan from which you can draw down the deposit and acquisition costs for the 2nd IP.

Then take out a new loan (you could go to 95% lodoc but wouldnt suggest that due to the interest rate) so circa 80-85% will see you alright.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
New Shared Equity scheme has arrived – Email us for details.

I agree with Marc to sell all of the properties and then rebuild your portfoli could be financial suiside given the CGT and stamp duty costs.

If you want to upgrade and assuming the loans are not all cross collalteralised (Cringe at the thought they maybe) why not consider a shared equity style loan.

You could upgrade the PPOR to a more expensive house but not actually have to pay interest or make repayments on 20% of the loan. Your cash flow could be the same as it is at the moment yet you still enjoy a better house.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
New Shared Equity scheme has arrived – Email us for details.

Dave

A bridging loan with capitalised interest maybe the way to go for him as he could make no repayments and then repay the loan out of the net sales proceeds.

He could roll the interest upto 12 month.

In saying all this a 25 year standard loan would certainly be available to him.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
New Shared Equity scheme has arrived – Email us for details.

Yes sounds like the way to go.

Any saving your lender offers at no cost is worth it.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
New Shared Equity scheme has arrived – Email us for details.

Just out of curiousity how long have you worked for them ?

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
New Shared Equity scheme has arrived – Email us for details.

Tracka

You could always sell the property to a Trust and use the funds raised to pay for your new PPOR however still be able to fully claim the entire amount of interest charged on the new loan as Tax deduction.

You would incur Stamp duty and there is another consideration or two but an easy solution to a problem.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
New Shared Equity scheme has arrived – Email us for details.

For those of you rushing out to sign up with the new loan take a quick look at the website extract.

Application fee – $585 for loans upto $150,000 thereafter 0.66% for loans upto $500K Not bad for a $499K loan the application fee is $3293.

Document Preparation Fee – $275

Valuation Fee – $220 Metro only

And guess what there is more

ALL loans mortgage insured irrespective of the loan amount. (Might like to check out the premiums)

And the early repayment fee only last for the first 5 years of upto 2% + a further $550.

It gets better $2 for an over the counter deposit.

Oh by the way they insist on Title insurance and it is only $121.

Yes the interest rate is definately the most important feature of any loan.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
New Shared Equity scheme has arrived – Email us for details.

Hi Will

No no other vehicle will give you a combination of Asset protection as well as the benefit of being able to personally claim the interest deductions as a tax benefit.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
New Shared Equity scheme has arrived – Email us for details.

dacium

Perhaps all the other lenders should look at closing down if ratebusters is going to take the lending market by storm.

Wonder if the Big 4 realise they might be out of business with all of these fancy features they offer.

Seriously mate think before you post like that.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
New Shared Equity scheme has arrived – Email us for details.