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Hi there
Get him to email me his contact details and I might be able to assist with a wrap / LTO.
Cheers
Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
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Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Might like to look at the following
http://www.shanghaivision.com.au/
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
You are right that the reverse style mortgage came out in the UK many years ago.
In fact Stewart Caryle the largest provider of Reverse Mortgages in England started in 1983 and are still going strong.
Must admit i don’t know of too many Pensioners forced into the streets because their equity elapsed but do accept that certain mortgage deeds have this in their conditions.
To avoid this I refer to my previous post concerning negative equity.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Hi again
In saying that Interstar No Doc is actually 70% it is the Lodoc deal that they will do at 80%.
GE do not check ABN ‘s and Interstar until recently have been in the same boat. You do however need to declare an Income and a source of where the income is coming from.
Email me if you want further details.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Hi there
We deal with Internstar wo would be happy to give you quote from them.
Sorry could have told Carrington require 2 Years ABN.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
D
Hate to disagree with you but that is not actually correct
“Any body giving finance advice on home loans and mortgage reductions programs will need to be licienced either now or in the future.”
In most States you don’t need to be licensed to offer home loan advice (I wish you did) and the same with mortgage reduction advice.
You are unable to offer advice on offset products unless you are PS 146 compliant and the same goes with any other form of financial planning advice from life cover to Superanuation.
In many States they have actually watered down over the last few years the licencing requirments for mortgage brokers.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
K ^ R
No none at all. You can set you margin and interest using any set format and I am sure that your wrappees will welcome a lower interest rate.
Only thing to bear in mind is what happens when you leave the Bank or the benefit is changed how do you increase the rate of your wrappees loan.
By using a particular index and we alsway use the Australian Reserve Bank Cash Rate your borrowers can easily identify when there is a rate change.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Exactly. Read and ask questions.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
One consideration is to choice a lender that has a no negative equity clause to avoid any problems for you or your father.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Personally i would never purchase a wrap pack but i guess it is an individual decision.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Yes certainly your broker can organise this for you.
Just remember that if you repay your loan in the first 12 months maybe even 18 months your brokers commission will be clawed back so he might not be too keen in assisting again.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
I understand, and may be wrong, that if one generates an income from PI then capital gains can be classed as taxable income and not limited to being offset against against capital losses… This is only the case when developing or property investing is your main occupation.
Can the expense of SD only be used to reduce CGT or can it in any circumstances be offset against taxable income ?. Duty charge don the Contract value is added to the cost base when calculating CGT however mortgage stamp duty is classed as a borrowing cost and is deductible over a 5 year period or the lenght of the loan whichever is the lesser.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Most developers including myself would borrow on Commercial development rates which are negotiated between you and your lender.
The rate and upfront fee is something that reduces after time and when you have proved to the lender you can successfully complete a project or two.
Just bear in mind that most lenders have wised up to borrowers trying to complete residential development projects by using variable rate residential terms loans. You will find the majority of lenders have early repayment penalties or deferred establishment fees or call them what you will on their standard variable rate products.
It is like anything you might get away with it as a one off deal but for longevity it is better to ensure that you structure it properly.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Yes they can.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
BE
No i am not. I live in Chapel Hill and married to Debra but is is a good name all the same.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Stu something i tell my clients all day long.
Also just an excuse to say QUEENSLANDER.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
The big disadvantage with buying property in a company is that you don’t get the 50% CGT deduction if you sell. Only applicable if the Contract dates are 1 year and 1 day apart and hence i asked anna if she was looking at trading or buying and holding.
A disadvantage in buying investment property in a trust is the extra land tax. This varies from State to State and is only applicable for properties held as at the 30th June each year.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Yes Luke both income and CG needs to remain inside the SMSF but then given the favourable Tax treatment (10% on CG after 1year 1 day) i like this type of vehicle for the odd wrap or subdivision.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Company or Trust Structure there is not much difference in price these days.
At least with a Trust you could like at the children / grandchildren as being beneficiaries with maybe you the sole Trustee.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
Hi Luke
Regretfully you cannot get round this issue now.
A transitional arrangment existed for funds with less than 5 members that allowed the SMSF to invest in a Unit Trust or Company after 11 Aug 99 and before 1 July 09.
Such arrangements only apply if the Trustees made written election no later than 23 Dec 2000.
Any present arrangement needs to be unwound by the Jul 09 date.
All my dealings i transact in my SMSF whether they be a development / wrap or similar are all done with cash funds.
There is no legal way around this unfortunately.
Richard Taylor
Residential & Commercial Finance Broker
**NODOC loans from 7.14%**
Licensed Financial Planner
http://www.yourstatefinance.com
[email protected]
Ph: 07-3720 1888Richard Taylor | Australia's leading private lender
