If it is the document number of the certificate of title, then you can get a copy of the mortgage document to find out the original amount lend. (I did this last week in Sydney re an investigation into a family law matter). But it won’t tell you how uch is currently owing and you cannot get that from the lender for privacy reasons. Cost is about $10 and you could probably do it online too.

Terryw
Discover Home Loans
North Sydney
[email protected]

Hi

1) I think that having a guarrantor for a loan in which you put down a 10% deposit like this is rare. Maybe it was done to save LMI fees?

2) you could have even put down a 5% deposit without your wife or other property being utilised. Using your other property ties things up unnecessarily and using your wife adds risk unnecessarily.

3) It will affect your future borrowings. You could not go to CBA etc while ANZ has a mortgage over your house.

A better way to have done this may have been to setup a LOC against your home, and take the deposit from this for the new home. Keeping them totally separate – avoiding cross collateralisation.

4. If you wish to sell your home, you will need to apply for a release of security. This basically means ANZ has to let you remove the home as security for the investment property. It should not be a problem if prices are going up, if they drop, ANZ may require you to pay money off the investment property loan for them to release the home.

Terryw
Discover Home Loans
North Sydney
[email protected]

It should work as a way to claim extra deductions early on and to save tax. But you may lose the CGT exemption and it may end up costing you more than you save in the long run, if not done properly.

Terryw
Discover Home Loans
North Sydney
[email protected]

Hi Carlin

That sounds strange. A super fund is really just a trust. The trustee can be a company of individuals as with a discretionary trust. The same trustee could possibly be used with both your discretionary trust and the super trust, but a super trust could not be a trustee of a trust.

I don’t think there is any way of getting money out of a superfund once you put it in there, other than selling something to the trust. And there are various rules governing this.

So this sounds rather strange, if not interesting!

Terryw
Discover Home Loans
North Sydney
[email protected]

I wonder why he just didn’t get the AFS licence?

Terryw
Discover Home Loans
North Sydney
[email protected]

They are out there, you just have to look.

Just this week I heard of someone who just purchased and is getting a 19% yield (in outer Sydney).

Terryw
Discover Home Loans
North Sydney
[email protected]

Cata, how did break his back? Is he alright now?

Terryw
Discover Home Loans
North Sydney
[email protected]

Hi Jen

These should keep your busy:

Freehills Lawyers
http://www.freehills.com.au/tax_2772.asp

Moores Legal
http://www.mooreslegal.com.au/expertise_notforprofit.htm

Brett Davies Lawyers
http://www.taxlawyers.com.au/manuals/Charity.htm

Philanthropy Australia
http://www.philanthropy.org.au/advocacy/draft.htm

Charitable Fundraising in NSW
http://www.dgr.nsw.gov.au/HTML/CHARITIES/charities_fundraising.html

Terryw
Discover Home Loans
North Sydney
[email protected]

Allan

I think you should probably fight for your fair share of things, but that will come later.

My parents were divorced when I was young. My dad married another divorcese with 3 children,set up a new home etc, and then he was killed in a accident (nearly 20 years ago). Before he died they talked about this topic and it was decided that if either died, the house etc would go to the other spouse and then when the other spouse died all would be equally divided between her children (3) and his (2).

His will left everything to her. She also received an insurance payout of a couple of hundered thousand. The house was almost paid off at the time of death, so she bought a new car and went on a new holiday, then found a new boyfriend. She eventually signed over half the house to him, and then they sold it a few years later – possibly to avoid any being left to me and my brother.

The trouble was there was no written agreement to backup there verbal agreement about the remaining spouse leaving everything to the children equally.

My suggestion would be to wait until your father dies. It would not be nice to be generationg these thoughts while he is still lying there. Wait to see what is in the will and then to seek legal advice. You should gather eidence – witness names etc and this will would probably be able to be over turned.

But that would probably mean most would go to his surviving wife. you may be able to put in a claim and get something.

Terryw
Discover Home Loans
North Sydney
[email protected]