Knowing Mic and Debbie as i do it will be well run and informative.

Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]

Whilst the Investors Club seminars are free the properties they offer you tend to be considerably overpriced.

I was involved in both assisting Investor Club clients with finance when they started the so called “Club” in the 1995 as well as prividing them with development stock in Brisbane.

Most of the deals I did for the client were overpriced and still today many SE Qlder client hold property which has not reached the value of what they paid for the property when they bought it.

As Alistair mentioned there are many good free sources of valuable information available without having to purchase an overpriced property through a marketing organisation.

Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]

Hi Sarah

To give a little bit more information I would need to now :

1) The sort of property you are thinking of buying and the likely purchase price.
2) Whether it will be a PPOR or IP. (assume if you are after + cash flow)
3) Whether you are putting down any deposit into the property.
4) Details on income so we could work out serviceability.
5) Whether you have any other equity.

Hope this helps for starters.

Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]

As Alistair mentions there are so many ways to calculate serviceability that one thing is for certain there is no rule of thumb.

If you compare serviceability across say a dozen lenders you will undoubtedly get a dozen different results.

Each loan should be tailored to your individual needs and requirements at the time and also in consideration of future circumstances.

A good independant mortgage broker can access literally dozens of lenders for you offering 000’s of loan products and will be able to offer you a couple of options to suit your requirements.

Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]

The loan through Devine is funded through a company called First Permanent a based Brisbane Company.

Yes the rates of interest are slightly higher than the standard Bank rate but in saying that those lenders offering a 100% loan charge a higher rate anyway.

All i would say is you have to ask yourself if they pay my stamp duty (well thats what they advertise in Brissie) and i keep the FHOG then i have to be paying for it somewhere.

The other point is with First Permanent they try and encourage you to refinance away after a couple of years but what happens if the house hasnt gone up in value to enable a traditional lender to take them out.

All i would say is the loan is available on existing homes as well albeit with post code restrictions so why not find an established house where you can get value for money and then you can always add your own touches and increase the value.

If you are happy to borrow 100-106% then either go through First Permanent (they only take applications through approved brokers) or one of the traditional lenders offering 100% loans.

Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]

It has nothing to do with the dates of settlement more importantly the date of the purchase contract.

You would assessed under the emerging profits ruling.

Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]

Again the is post is not to be seen in any way as financial advice but to elaborate on what has been stated before.

All investment transactions of superannuation entities must be made and maintained on an arm’s length basis. Transactions need not necessarily be at arm’s length (i.e they maybe between related parties) but investment transactions must be an arm’s length (commercial) basis.

Prior to the 23rd December 1990 Super Funds were prohibited (with limited exceptions) from acquiring assets from members or relatives of members. After the royal ascent Superannuation Legislation Amendment Act this was extended to related parties of the fund.

There are however some exceptions to the rule where the assets is acquiried at market value.

Prior to Royal Ascent of SLAA above there were 2 exemptions being

1) Listed securities
2) Business real property upto 40% of the value of the fund

These exemptions have been extended to enable Super Funds to acquire certain assets from members.

With regards to In house assets these are often confused with acquiring an asset from a related party. In house assets are generally investments or elases between the superannuation fund and related party of the fund.

These rules were designed to attack arrangements where the employer sponsor of the fund made contributions to the superannuation fund and the proceeds of those contributions were loan back to the employer. Tax mimimisation on other words.

Under the SIS Act the limit of in house assets is 5% phased in dependant on the year.

Whilst, i would not say your Financial Advisor is wrong i would want to gain a lot more information before making a judgement.

Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]

pyramid

Another good reason to wrap in the Sunshine State – lol

Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]

Lady Bug

Have a look at http://www.cleardocs.com.au they have a great online site and does not cost a fortune. if you now what you want completion of the information is a breeze.

Hope it helps.

Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]

The Contract should be UCCC compliant and therefore you should get specialist advice from a wrap savy lawyer.

The first point you raise depends on you. If you purchaser defaults it is upto you whether you take any further action in this respect.

There is no such thing as a standard deposit. In most cases they have little or no deposit to put into the deal.

Finally there is nothing to prevent the purchaser refinancing the deal at any time. Certainly you are entitled to insert a clause making a early payment penalty but cannot stop the client repaying your debt.

In fact under the Property Act if they have repaid 1/3 of the original principal they can ask you to transfer title into their name and you take a motgage against the property.

Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]