Forum Replies Created
Hi all
I read recently that townhouses in SA do not attract stamp duty. Only the land component does.
Its a loophole some developers have been using. However apartments do attract stamp duty.
regards
alfHi all
Thanks for you suggestions. I figured maybe he was talking about refinancing to another loan would incur stamp duty.
He was indicating that x collat is not a big issue and its going to cost to do it.
Where do you find this team that looks after your interests.
Its interesting that every time i’ve let my guard down and let what i thought were good people that i was paying look after my interests ive been screwed or given limited information that has cost me.
I’ve tried to get a team to work with but at this stage no luck. Maybe now i am too guarded?
People on the Forum are great the responses are genuine in most cases.
regards
alfHi Bill
Yeah i was really annoyed he is my persoanl banker dont really want to get him offside. I just went in with a LOC increase application so i had to smile…lol
When something comes up with another lender then i’ll have something to say. You know every dog has his day.
regards
alfHi Terry
Thats what i was thinking he through it in as we were talking.
This guy comes up with clauses all the time pulls then out of his u know what i reckon.
I told him i was peaved that they were going to charge me for the 360 for each loan as mine are split in three ways. He just laughed and said “well the bank may introduce additonal charges from time to time as we see fit”.
Then he threw in the stamp duty. What got me from the meeting is that my ppor and IP are at this stage x collat. He casually talked about my PPOR as if it was nothing he said well we decide what property we will sell first to get our money i dare say it would be your PPOR.
I am looking to refinance but im not sure what product to go with at this stage. Have had a few quotes etc. Break costs were quite high, now they have come down. So maybe a window of opportunity.
Unless the stamp duty is an SA thing i dont know. You got me thinking now?
cheers
alfHi all
Yes i am in a similar boat with fixed rates a few months ago break costs 3500 now 1100. But hey listen to this for greed. The bank said they now would charge me 360 as an additional fee which they are entitled to do according to them under some clause for each loan.
Then they said plus your stamp duty of 1100 so get a very clear picture of the total cost.
regards
alfHi all
I read this somewhere and it has helped me at times.
“I thought i had the blues because i had no shoes until i met a man that had no feet”
alf
Hi
Thought Bill was riding a pushbike?
cheers
alfHi
Maybe Westan means refinance to 180000 and leave it as is so you still pay the interest on the 1000000 as you haven’t used the extra 80000 as yet.
I think this sounds like a LOC.
Went a bit blank for a while but i think thats correct Westan?
Tnanks for the input Bill not familiar with the offset arrangements. I the words of a famous Australian Please explain?
regards
alfHi Westan
I still don’t follow what types of accounts is it LOC for example.
Is this the same account or create a different account for the refinancing?
For example if you pay the 80000 in then interest would have to be charged on the 80000?
because its being used.I am a bit confused on this one.
regards
alf (thick as a brick)lolHi Bill
You can count me in for $100 no problem.
regards
alfHi Bill
Well Bill another feather in your cap reckon you should start your own forum.
How to invest without contemplating suicide when things go bad.
invest safe and smart the Bill O’mara way.
have fun
alfHi Westan
How do you mean refinance and put the money back into the loan and pay no interest. Can you give an example.
regards
alfHi all
well i possibly am thinking that one could make a case to opt for renting for a while. Rent their own PPOR and then if they want within 6 years move back in still CGT exempt.
Doing the numbers would be interesting.
regards
alfHi Bill
Thats exactly the point when a salesperson tries to sell people feel pressured etc.
But a master salesperson is polished he is genuine. He/she is not overly concerned with the sale but to accomodate or as you say find a solution for the respective clients or friends whatever.
So when dealing with a master salesperson one never feels like they are being sold because his/she is so eloquent.
Hope i am making sense..lol it wasnt a swipe at you not at all.
regards
alfHi all
how about putting some effort in. I cant believe with all the FREE help Bill has given and the amount of E mails he would’ve received and phone calls only 10 took time to respond and acknowledge his efforts.
Lets do better than that recognition is important for ones efforts. Dont take anything for granted and appreciate this experience and knowledge Bill is sharing FREE on a one on one.
regards
alfHi Bill
Great stuff seems like a science. How to be a master salesperson without knowing you are being sold.
cheers
alfHi Bill
Well its just a thought at this stage.
But looking at it the PPOR becomes and IP.
The interest on the loan becaomes tax deductable
With a good quantity surveyor should be some depreciation there house only 2 years old
The house would be positively geared
If still have other IP would then help with the negative on that one.
My personal taxable income after depreciation etc would be lower.
Can always move back after a year if it doesnt work.
I have heard that as along as you move back within six years then no CGT if sell. But i would never sell this particular property.
I am looking at contingency plans if rates start to move aggressively and sitting on a variable arrangement is not comfortable. Even though i know over a long term it may be better.
regards
alfCongrats Leigh
Enjo enjo enjo a moderating we will go
cheers
alfHi
When do these new rates come into force.
regards
alfHi Bill
you can send me that info much appreciated
regards
alf
