Are these posts referring to my post (re: greater discount for owner occupy property and less for investment)?

If so, as a Chartered Accountant, I don’t think there will be any issues:

1. The differential is not extreme (5.97% for owner-occupier and 6.57% for investment).
2. NAB (the lender) has less ability to discount interest only loans…[Read more]

Sapphire will do (normally have good fixed rates):

3 years fixed: 6.79%
5 years fixed: 6.99%

http://www.sapphiremortgageservices.com.au/rates.asp

Cheers

Stu

This is not relevant. To answer your original questions depends on your preferences, objectives, etc, etc.

It’s like me asking where I should invest my money? No one can answer that question until they know what risk I want to take and my objectives, etc.

Therefore, contact a broker and get a second opinion.

Cheers

Stu

God help you Wilko… I think the suns getting to you. Honestly, they should just build a big wall along the NSW border and isolate you guys.

Cheers

Stu

Pisces & Rob, play nice… I have deleted those 2 posts… any further defamatory posts will be deleted.

Both you guys add a lot to this forum. It would be a shame to see you two banned.

Please, please refrain from saying anything to each other!

Cheers

Stu

I don’t care for Rugby! I am Victorian. We only like AFL.

Cheers

Stu

I would agree with Rob (based on his assumptions). (although it is hard to comment as we don’t know what’s important to you, your objectives, loan structure, amounts, etc.)

Cheers

Stu

Rob, Wilko is in QLD. Therefore, anything over $250,000 gets 0.70% (NSW & ACT it has to be over $500k).

St George has break fees of $1,000 for 3 years. Their Portfolio loan encourages you to cross-securities (in fact it’s all in one) and can be expensive every time you add another property to the loan.

St George is ok if you aren’t going to c…[Read more]

Yes, you are correct. However, the second point is moot. You can direct you income wherever you like. However, if you choose not to make repayments on your tax deductible interest then you can’t keep on claiming interest on interest.

Cheers

Stu

Well it’s good that you are here to correct us Nat.

Are you saying that a securitised lender has just as much flexibility as a non-securitised lender? For example, CBA will do 80% just about anywhere. However, ING will not. It was my understanding that this is because of the securitisation process in that they mortgage insure all or some of t…[Read more]

So I guess you’re not going to stop it!

Remember that defamatory comments are not allowed on the site so I will just delete any response that contains these statements. Maybe then you will see this silliness is futile.

Cheers

Stu

Pisces, Rob… settle down you too. Stop being childish and unprofessional! We all have to respect our differences of opinion and there are make ways to skin a cat. There is no right or wrong… just different approaches.

Your constant digging at each other ruins the feeling of the forum. It would be great if you could stop it. Thanks.

Cheers

Stu

Personal loans can be arranged very quickly especially for this amount… usually within a week. Don’t use the same lender. CBA are advertising that you can apply over the Internet and you never have to meet in person and they say they will give you an answer in two days. See http://www.commbank.com.au/getitfaster/

Cheers

Stu

I guess you could always do your own but it’s often best to get a professional one.

If you are going to claim depreciation you need to have a basis for your calculation. The schedule is normally a good basis.

So in short the one time you don’t need one is when you’re not going to claim depreciation.

Cheers

Stu

Rob

I understand what you are saying however perhaps they make an exception where family trusts are concerned. Perhaps they “look through” the structure to realise that the trust and individual are essentially the same people. Maybe if there is a relationship between beneficiaries and the individual (i.e. same people) then they are happy.

I…[Read more]

Hi Rob

The lender still takes the first mortgage over the property but this is taken through a guarantee (provided by the trust). Therefore, the loan is fully secured.

This is similar to St George’s Family Pledge loan where parents can provide additional security via a guarantee.

Cheers

Stu

Thank you to everyone for their input. To answer a few questions…

Jo, CGT is a good idea. I am a Chartered Accountant and worked for two Big 4 firms so I am qualified to write on this topic (Derek – not a financial advisor).

Mark, some good ideas. Thanks. I did an article on borrowing capacity and the effect of purchases. It’s called Unlimited…[Read more]

Rob

The loan is in the investors personal name and the Trust provides a guarantee (the guarantee provides the security).

This is also a good structure where two investors are purchasing a property together. The property is owned by the Trust and each investor gets a loan in their name for their share of the debt only. The Trust provides a…[Read more]

Liz, in my opinion, there are enough honest clients around not to waste my time with dishonest ones. Honesty and integrity is something that is of utmost importance to me.

Cheers

Stu

It’s happened to me also. If a client knowingly lies to me I will never deal with them again (and I probably won’t help them with the deal we’re working on). There are no excuses. I only want to deal with honest and ethical people. I am honest with every client so they should pay me the same respect.

Brahms, stand firm on this one. Too many p…[Read more]