Forum Replies Created
correction to above
should read
higher than expected LVRRegards
Rob Brown
Rachel77
Don’t be so quick to shoot your Accoutant
Take on board what he said.
But, Do your own research and prove him wrong.
So just be careful.
Depending on circumstances Neg. Gearing may suit some peoples income better and some N.G. property goes up in value easier then N.N.G. property.
You don’t need him to agree with you, but advise you.Regards
Rob Brown
CPA/Mortgage Broker
[email protected]Regarding LMI, GE and PMI are the main two coys however a guy from PMI said, “some banks cover through offshore insurers” Some banks vary the premium based on whether the loan is PI or IO (more expensive for IO) and some banks charge for 100% of loan where others use a lower percentage.
eg., Have a look at the St. George Handbook.It always annoys me when some Banks come in with low valuations and then due to lower then expected LVR figures ,guess what they then charge for LMI.
A LICENCE TO PRINT MONEY,Because of the late timing in the finance routine to get a valuation, most people usually end up paying the one off fee.
Even though they may have been attracted to that bank, not which bank, by the lower interest rate or professional discout offer.
COMMENTS PLEASE.Regards
Rob Brown
CPA/Mortgage Broker
[email protected]NEO
My suggestion depends on the type of accounts your using, and if you prefer to keep the IP.
If your PPOR is say on a LOC or converted to one, then you are only incurring NTDI on the balance. So have the rent paid in here and arrange the cycle so the interest on the IP is paid out about a month later,
Have a C/C tagged to the LOC as well and again live thru the C/C only paying the C/C before the interest free period runs out and of course have your income paid to here as well.
This way you are minimising your NTDI.
Try not to sell your IP.Regards
Rob Brown
CPA/Mortgage Broker
[email protected]Leigh-Ann,
This may be a basic question,
you say ” buy our first investment property”
If you and/or other interested person/s have previously purchased a property as a residence etc., that person/s will be denied a FHOG and that property will be ineligible for FHOG if they are going to participate.Regards
Rob Brown
Hi Kiwi-Fulla,
I’m a CPA/ Mortgage Broker Ring me or email me, run it by me, if I can help you I will. Cost you nothing to find out.I’m in Sydney, It doesn’t matter where you are.
[email protected] or 02-9790-6846Regards
Rob Brown
