Jeff, how do you draw down 50% of negative growth?

What do you live on in the negative growth years?

Just trying to beat averages does not mean it will happen year in and year out for you!

The Mortgage Adviser

This is funny. Another great advertisement for using a mortgage adviser / broker!!! ))

You should send the money to your solicitor. If you put the vendors name on it and the amount is too much, you will have a nightmare getting it back. The solicitor will hold the money in trust on your behalf and only disburse what the vendor is entitled to. If you don’t trust your solicitor, why are you using them?

The Mortgage Adviser

My mummy said say nothing when you have nothing nice to say. So….

“NOTHING!”

I suggest you use a mortgage adviser / broker. You won’t get a Wizard Low Doc but you will get something a lot better!!!

The Mortgage Adviser

Foundation, the ‘living off equity’ (without income other than rental) advocates also forget by spending on non-deductible personal items would soon see them paying tax on the rental income due to the reducing portion of deductible interest being exceeded by the rental income. They also neglect the impact of inflation which you demonstrated.

The Mortgage Adviser

A couple of things…

There is also PAYG low doc and no doc loan options so ABNs are not always required.

As for rental income, if it is positive cashflow, declaring the income should not be a problem as you can also include the expected rental income. If you commence a job in the same field before applying, the lender will only want to see that no probation period exists before settlement. You would go very close to a full doc loan.

The Mortgage Adviser

Jeff, please go and read the earlier posts about this topic in the various threads. This ‘living off equity’ discussion relates to someone who has no income from work and a negative portfolio (meaning they are geared substantially). Then, go and look at the ability to borrow based on no employment and a negative rental position and then get back to me.

Until then, as far as I am concerned, this ‘structure’ is only useable by those who don’t need it or those with a huge equity position with low gearing. If either of these people ‘needed’ it, they must be doing something wrong. Using it to further invest is not what I am discussing. I am an advocate of ‘investing off equity’.

The Mortgage Adviser

2,500 a week is a lot. You should be fine. Of course, you could purchase under low doc or no doc if you have the income but not the documents to support it.

The Mortgage Adviser

See, I did not dismiss your response about the lenders. I have already sent two emails and will call the lenders tomorrow to confirm that they do this. Your ‘distraction’ comment is just ridiculous and reaching. My response after your naming of the banks was addressing other issues and expressing my views again.

As for linking to Somersoft, I think that is rude in PI.com and there is no need to do it. In regards to continuing a ‘debate’, there isn’t one as far as I am concerned. Managed Funds invest in shares and people buy them as an easy way to buy shares. I know I do. I only mentioned the example so you would understand the point I was trying to make. It obviously didn’t work.

As you may know, I ignored you over at Somersoft and I am disappointed that I cannot do the same here (that I know of). I will just endeavour to ignore all future posts you make.

Have fun ‘debating’ whatever it is you think is being ‘debated’.

PS: When posting straight after the message you are responding to, there is absolutely no need to quote the whole message and repost it. It is just a waste of space.

The Mortgage Adviser

This is one member asking another member about their business. Kay is actually questioning something on John’s website. This happens all the time.

The Mortgage Adviser

Nigel, you will be amazed what you could borrow with other lenders. ING are not the best on serviceability but they do have some decent products.

Sit down with a mortgage broker and you may be pleasantly surprised. It beats running around to every lender. They have already done this for you.

The Mortgage Adviser