RAMS will do up to 80% on No Docs, and Maquarie up to 70%. Macquarie have reduced their rates as well for loans over $200K – now 6.98% with No LMI payable.

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Keeping all properties may limit how far you can go because of servicing problems. So you may have to sell a few, eg. do 4 keep 3 and sell 1, using the profit of this one to go further.

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Hi Carpe_Diem

Derek had a few good ideas. I love the living on equity concept as you get to keep a property which you would otherwise have sold. If you keep it you get all future growth as well, which you would love if selling (plus all the costs etc).

Hopefully your properties are in high growth areas.

Just keep in mind that most No Doc lenders will only lend for investment purposes. You can borrow against your own home, but must be for further investments.

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Hi

There is usually a sunset clause in the contract. If the building is not complete by this date, either party can usually pull out without penalty. You can use it to your advantage, but so can developers – many have delayed the construction process so they could pull out of the contract and resell at higher prices.

As for deposits, you can try and do some negotiating to get this down.

Also be careful, now may not be the ideal time for buying off hte plan if the market stays flat.

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ANZ may consider it residential.

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You will probably find the rates for private lending are much higher than normal. Why do you want to go down this path?

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Hi MJ

The ATO will want to look at what the funds were used for. in this case reducing non investment related expenses. Therefore if audited, you may be in trouble if you were to claim interest on the 80% LVR.

(I am not an accountant)

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Even Hybrid trusts cannot distribute losses. What they can do is allow you to borrow money to buy units in the trust, and you can then personally claim the interest against your personal income.

But hybrids still do not allow you to claim the expenses – unless may be you can argue the trip etc were related to your investments in your units in the hybrid trust.

Normally money spent on trips etc to see a property you do not yet own are not immediately deductible – but may be claimable if you sell.

If a trust is in the business of property, then maybe you could claim the expenses through the trust.

Best to check with an accountant – and let us know the answer.

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It may depend on how much you are after.

ANZ still offer low docs at normal rates for all products for up to 60% LVR, and allow package discountsof up to 0.70%, making the rate from 6.62%. For 80% LVR they only allow certain products, but the package is not available.

RAMS are currently offering 6.72% with no application fee if 70% LVR or at 80% if over $500,000.

St George offer up to a 0.70% discount on low docs if over $350,000, making it 6.62% on the standard variable product. up to 80% LVR

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Hi Patrick

What sort of prices ranges are the properties up there?

You may be better off buying a property, getting the grant, living in it for 6months and then renting it out, claiming the deductions – tho you are on a low income so the tax savings would be limited.

You could still claim the property as your main residence and avoid CGT for up to 6 years.

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