I don’t know about both of you being able to claim a PPOR. I beleive that each couple can only have one PPOR between them, and have even heard of people pretending they were separated so they could save tax (or evade tax?). You had better talk to an accountant about this, but you can probably claim a PPOR each up until you become a spouses (defacto?).

Terryw
Discover Home Loans
North Sydney
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Peter

Just going from memory, I beleive Bluestone will lend up to $2mil per security at 80% LVR- even on a low doc.

Terryw
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North Sydney
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Yes, GE Finance will also do 90% LVR low docs, but rates are over 10%. In these cases it may be better for you to be a wrappee, as the rate would be lower and the exit fees less. Exit fees on the non conforming lenders can be up to 4% of the loan amount.

Adelaide will do up to 80% LVR with mortgage insurance or up to 75% without. Same with ING. Suncorp will go up to 80% LVR with non LMI too. Then there is St George, ANZ that do low docs without LMI, but at a lower LVR – 60% to 65%.

Terryw
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North Sydney
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You probably don;t have any savings or cash as you have been putting everything into your home loan??

If you want to go ahead, then increasing your existing loan or refinancing would be the best way to go. Saving up a deposit would not be an efficient way to go as you could be putting htat money off your non deductible debt.

Terryw
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North Sydney
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hmm

Whoever said that may mean increasing the loans as the equity increases and using these funds as deposits on further cashflow positive property.

You could actually keep increasing your loans and using the money as tax free living expenses IF your property is growing much faster than you are using it.

Terryw
Discover Home Loans
North Sydney
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Sebastian

the limit is AUD $10,000, so us$9000 would be over.

but you could deposit whatever amount overseas, and then withdraw it here from ATMs. That shouldn’t show up.

If you wanted to make several deposits in Australia less than $10,000 than that would be an offence against the FTR Act, but it 4 transactions is not something very large!

Do a search on google on ‘tax havens’.

Terryw
Discover Home Loans
North Sydney
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St George are not very generous with serviceability. If you LVR is too high (not your equity), then you may just have to lower it a bit to get over the loan.

Terryw
Discover Home Loans
North Sydney
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also try the API magazine http://www.apimagazine.com.au

Terryw
Discover Home Loans
North Sydney
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Col

Standard is 42 days in NSW, but can be whatever you negoitate. Just remember, any shorter and some banks will have problems settling the loans in time.

Terryw
Discover Home Loans
North Sydney
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Some lenders would consider vendor finance. The ones that do not require genuine savings should be able to do it! But they will have to take into account the interest you will be paying on the second mortgage into account for serviceability calculations.

Terryw
Discover Home Loans
North Sydney
[email protected]