valluvan replied to the topic First PPR/IP – Structure Question in the forum Help Needed! 6 years, 2 months ago
Thanks for the response Terry. However it has made me even more confused. Are you saying its better to retain the land/house in my wife’s name rather than trust/compant etc? Apologies we are very new to this and not sure If I follow you
valluvan started the topic First PPR/IP – Structure Question in the forum Help Needed! 6 years, 2 months ago
Hello,
We are first time buyers/builders and have recently purchased a land to build our own home to take advantage of the first home owner’s grant and no-stamp duty.
The land contract is on both mine and wife’s names and the mortgage is in our names, even though I am the income earner of the household. Our plan is to build our home, live in it…[Read more]
valluvan started the topic Buyers Agent in the forum Help Needed! 6 years, 10 months ago
Hello everyone,
What does the forumites think of the use of buyers agents. I am looking to buy my first IP this year and wondered if I need to use one to de-risk my adventure, as well as save on time and effort. I am looking to invest in either Victoria/ACT or Tasmania. Do I need to engage a buyer agent from the actual/territory I intend to…[Read more]
valluvan replied to the topic Bank Loan on Empty Plot of Land in the forum Help Needed! 6 years, 10 months ago
Hi Jaxon,
Thanks for your email
Yes the current land Mortage is at 80%LTV no LMI. I am told by my mortgage broker that I am eligible for Mortages upto 1M. We definitely don’t want to defraud the state or the government around stamp duty. So we will probably build a smaller home at a total land+build of around 700K(as we think that at 850K we are…[Read more]
valluvan started the topic Bank Loan on Empty Plot of Land in the forum Help Needed! 6 years, 11 months ago
Dear All,
Quick question and help please:
We purchased a plot of land in an estate in one of the south east suburbs of Melbourne with the original plan of building a PPOR. We had taken a 80% LTV mortgage for the land. The land has just settled and because we are first time buyers we were not required to pay any stamp duty costs. Talking to a few…[Read more]
valluvan started the topic First time Buyer/Investor – Land or House? in the forum Help Needed! 7 years ago
Dear All,
Sorry newbie here to everything…so please bear the long post…
We are would be first time investors and reading up a lot of material before we take the plunge.
We have recently purchased a block of land in SE Melbourne(settling next month) with the original intention of building our first PPOR. We are first time buyers and understand…[Read more]
valluvan replied to the topic 250K Cash — Investment options in the forum Help Needed! 7 years, 3 months ago
Warragul
valluvan replied to the topic 250K Cash — Investment options in the forum Help Needed! 7 years, 3 months ago
Thanks Corey and Jaxon. The mortgage broker has confirmed based on my current earnings, my borrowing potential is upto a million. However he has asked me to wait for atleast 3 months to get bank’s pre-approval. Meanwhile what do u guys think about the below plan:
We have seen a new estate in one of the regional town in the south east…[Read more]
valluvan replied to the topic 250K Cash — Investment options in the forum Help Needed! 7 years, 4 months ago
Hi Jaxon,
I am slightly confused now… are u saying both wife and I will qualify as first time buyers separately which means we can both buy our first properties separately and get 2 FGOG/Stamp duty benefits in total? I was under the impression only one FGOG/stamp duty exmeption applies for a couple who are buying their first property?
valluvan replied to the topic 250K Cash — Investment options in the forum Help Needed! 7 years, 4 months ago
Not sure why u think I will put only 100k into the house. Obviously I will top up my deposit with a mortgage for the investment property unless iam missing something from ur question?
valluvan replied to the topic 250K Cash — Investment options in the forum Help Needed! 7 years, 4 months ago
Dear Tony and Corey,
Thank you so much for your pointers. Met with a mortgage broker who has suggested to wait for at least 3 months to get some sort of bank pre-approval for mortgage(as I started employment only recently). So looks like realistically our PPOR may happen only after 3+ months…
However wife is concerned with the raising land…[Read more]
valluvan started the topic 250K Cash — Investment options in the forum Help Needed! 7 years, 4 months ago
Dear All,
We are currently renting at the moment in Melbourne’s south eastern suburbs having moved from overseas recently. We would like to get our own place soon, taking advantage of the favourable stamp duty terms and first time buyers grant. We have about 250K in the bank as result of selling our overseas home . We are thinking of Setting aside…[Read more]
valluvan became a registered member 7 years, 4 months ago