Our fees are clearly stated on our website firstly this includes custodian trustee (including ASIC fees) plus custody deed.

Let me clarify $1750 is for bare trust or Limited Recourse Borrowing Agreement (LRBA) set up NOT SMSF set up.

Are you saying $1750 is steep? please prove me wrong here.

As you know ASIC fees are just under $500. Excuse me if we are on different pages, however, I will stand by our fees 100% as has been mentioned in the thread, many others charge much higher for these services (up to $5k) and many of our clients are extremely attracted by our fees and more importantly our experience in the area.

Please clarify what your quote of $950 involved as if it was for custody deed plus custodian trustee it just would not be sensible in my opinion in consideration of ASIC fees for setting up a company plus labour.

Because I am not sure if I will rent it out or live in there, am I best to get an I.O loan?

My mum has generously offered to but her savings into my offset account (as she is currently taxed too much), provided I get a will prepared to outline that it is her money. Can anyone see anything wrong with this? I believe if it is in an offset account, I can take her money in/ out whenever she asks for it and I won’t get penalized and while it is sitting in their it is helping me?

I’m looking to start to buy an IP so any advice on structures would be appreciated

Thanx

Cheers

Yours in Finance

Glad that you can provide such helpful hints and advice for us all.

All these new accounts I've suddenly acquired from my mortgage broker after refinancing/restructuring was really confusing me.

Very different to the simple days I used to have things where each accounts only corresponded to its property. It was neat.

Decided to map this out in a diagram today at work to get my head around how things used to be and possible options how I can go about things moving forward (see below). Hopefully i've got things right now *fingers crossed*

https://drive.google.com/file/d/0B027-SCim7iANlJLVVJELVhOTEE/edit?usp=sharing

Let me know if you got some better tips/suggestions?

I suspect sanasar may have been given incorrect advice at branch level in regards to offset v redraw as they will tell people it is the same thing?

I had a bizarre conversation with a branch staff member just yesterday when one of my clients went into a branch to transfer IP funds from a PPOR offset back into the redraw of the IP loan. She said what I was doing was "very strange". I attempted to explain contamination of funds to her after she asked why I wanted to transfer the funds back to redraw but she was not interested in the answer. One staff member at a previous branch she visited the same day refused to do it as it 'wasn't necessary to move the funds as she was offsetting interest on her PPOR therefore it balanced itself out!"  What the!!!!

Not one for bank bashing as I see them as business partners but the general ignorance is astounding. I guess you don't know what you don't know but then hearing the correct strategy and not being interested in the answer is what perplexes me even more so.