Scruff

Your assumptions are correct as has been pointed out already however trust me there is a difference between making payments weekly or fortnightly. (small as it may be)

Believe it or not there are still one or two lenders who still calculate interest on quarterly rests but thankfully they are few and far between.

I guess one immediate question is why have your PPOR loan set up as a P & I loan when ideally it should be an interest only loan linked to an 100% offset account (with interest calculated daily).

Maybe bring this up with your lender in the morning especially if you are looking at increasing your wealth through property in the near future.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.

Hi there

Funny you should post your questions i ahve just come off the phone from a client in Singapore asking the same question.

It all boils down to the LMI and GE (the Country’s largest) have just withdrawn from the market which makes it hard.

90% is achievable so feel free to drop me an email and i can give you some more information.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.

Hi Sharon

I know i have acted for many expats on the forum so they are out there.

Hopefully we can get a few of them to show themselves.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.

I am sure Peter is a jolly good chap but as this referal was made on this forum i am a believer in recommending someone who contributes no end to this forum.

Terry W is a Life Member with over 5000 posts and spends a lot of time providing valuable and free advice.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.

Hi Agave

Yes your are able to change the Trustee of the Trust (Subject to the rules of the Trust with a minute) from a personal trustee to a corporate trustee.

Regretfully in Qld even if you transfer the property to your partner under the “Love and Affection” Terms you still incur the relevant stamp duty and also dependant on the property this could trigger a CGT issue.

You might be better to transfer it directly into the Trust.

I am no lawyer so think you are better off to get legal advice but think it will boil down to ther terms of the will. You should also consider taking out a Term Life policy on his life with yourself as the beneficial owner. This would at least mean if anything happened to him you would at least received the property debt free.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.

Hi Grant

Wow 2350 cover a big area

boorolong, dumaresq, argyle, hillgrove, bindawalla, donald creek, duval, jeogla, bundewallah, acacia park, ben venue, castle doyle, invergowrie, bona vista, kellys plains, aberfoyle, st patricks, west armidale, east armidale, exmouth, yooroonah, abington, dangarsleigh, enmore, metz, armidale dc, north hill, wards mistake, commissioners waters, lyndhurst, madgwick, tilbuster, yarrowyck, armidale, newling, puddledock, sumarez, wollomombi, wongwibinda, south hill, thalgarrah

Depends on which one it is seems acceptable but must admit would like to see a link to the selling agents listing to see more about the property.

Promise i am not interested in purchasing it.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.

Don’t want to appear picky but an insurance broker is unable to provide you with a life, income protection or any other risk related quotation unless he is licensed.

Only a Financial Planner can give you a quotation for the above.

If you know exactly what you are seeking and are after a comparible quotation we would be happy to provide you with one under a Nil Advice basis.

You are right the quotes vary considerably dependant on many things as well as the features and benefits offered by the Insurer.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.

I disagree with a couple of the previous posts.

As a multi unit dwelling the LVR will be totally different and whilst a 95% LVR would be achieveable with a post code of 4730 3 of the big 5 banks would not lend more than 80% if the units are one 1 title.

The remaining 2 majors will only accept 70% of the rent so serviceability is an obvious issue. GE will not provide cover which rules out 1 of the remaining 2 lenders and PMI is on an application basis with a prefered range of 80-90% LVR.

These properties are readily available in western parts of Qld but financing them is not as easy as first sounds.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.

Hi Kathleen

Welcome to the forum and good luck to you in your voyage into property investing.

This day and age many deals are done by email and over the phone so actually meeting up with your MB is not a necessity.

I have numerous clients both intra state and also overseas who I act for and most of them i have never met up with.

There are many considerations when starting out on a construction loan which most lenders look at as a Commercial proposition. The terms and conditions vary considerably with each so you are certainly better to shop around.

Without the full details of your position it is difficult to make a recommendation but I would be happy to help if you wanted to provide us with a little more information.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.

Hi russell

There are four possible ways to own investments:
• one name
• joint names
• company
• trust

The first two are problematic for a couple of reasons. They provide no asset protection and no flexibility. As time goes by and your circumstances change, we will rely on that flexibility to ensure that you are always in a strong position to achieve your goals. The company is not good because there is a potential for asset sales to be taxed twice…. A trust provides
• asset protection
• tax benefits
• flexibility

It is also a structure that the wealthy people use to own assets that produce wealth. Hence, if we wish to achieve the same results that the wealthy people achieve you really should do the same things that they do…and this is to use trusts to own the assets.

There are really only three types of trust:
• a family or discretionary trust
• a unit trust
• A hybrid trust, which is a cross between the first two.

A family trust works well when we buy businesses or cashflow positive assets. It is not good when the assets are negatively geared as the losses are trapped within the trust and carried forward to absorb future profits. In this way, the individuals do not gain any tax benefits from negative gearing.

A unit trust works well when two (or more) unrelated parties buy assets together.

A hybrid trust is best when the one family wants to buy assets that may be negatively geared as it enables the assets to be owned by the trust, but the individual to benefit from negative gearing against their other income such as salary.

Therefore, based on these simple rules…I would normally recommend a hybrid trust for property ownership when your intention is to build a decent portfolio of assets for the future.

The entity is one thing but setting up your loan structure is another. Both go equally hand in hand when setting out on your wealth creation goals.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.