You mention that you have a house on the back of the place you subdivided but don't mention any debt against that do you have finance against that property?  How much? When do you expect that to be complete?

Dustin McMahon
dustin@yourbroker
0430 110 304

Hi Ozman, as it seems that you would understand a bit about finance and purchasing property.  My best case scenario for my client would be they get, a loan from one of the many lenders out there,  that suits their financial needs now and into the future, I'm sure all other brokers on hear would agree.  For example if you looking for the absolute…[Read more]

With your $52k it sounds like it was borrowed against the investment so the bank would want it paid back if the investment was sold.  Depending on if the new property has increased in value at the time you are selling the investment you may be able to keep access to the funds.  Depend on the lender you are with, but also what you are looking to…[Read more]

Hi Adam,

With the refinance unfortunately it is not determined by when you redraw the money.

The simplest way to look at it is what the money is used for not what the money is secured against.

eg. it appears from the information you have given you are borrowing an additional $50k against your current property to use on your future PPOR.  As the…[Read more]

Hi Adam

how much is the current loan on your property? It will only be that amount that you can claim on the IP. 

Generally you are better off putting  spare cash in an offset against PPOR.  If you pay down the loan and down the track decide to make that property an investment property you will lose the tax deduction on the repaid…[Read more]

Terryw wrote:
Must be a non bank lender – these are often best avoided.

I don't think that this is a case of the lender charging for the vals i think it's the broker charging a service fees.  Why do you say non bank lenders are best avoided?  I think they definitely have their place in the market and there are some great products they…[Read more]

Hi Conolly, 

As Jamie said it depend is the broker charging you for his service or is it a case of he is charging as the lender charges for the valuations.  If he is charging to order the vals I think you could find a broker on here who would do just as good a job without looking for a quick cash grab charging for vals.   

Being an ongoing…[Read more]

BUYER BEWARE!!

Basically it is the buyers responsibility to do their own due diligence and make a decision based on that.

I probably wouldn't even go to the extent of getting a lawyer to do a letter.  Contact your conveyancor who attended settlement and discuss it with them.  They will be in the best position to go through your concerns and…[Read more]

Generally you will want to have your investment property interest only and work on paying off the debt against your PPOR.  I think you may be getting a bit confused about negative gearing. 

Regardless of whether the investment property is negatively or positively geared you want to pay off your PPOR first.  Your PPOR debt can't be claimed on tax…[Read more]

I use Doug Napier his company is Doug Napier Insurance 0407 772 174, he does an great job.  He's got a couple of tough ones over the line for me.

Dustin McMahon
Your Broker
[email protected] | 0430 110 304

With the mortgage for Off the plan it can be near impossible to get through SMSF.  It's my understanding that this is not just because of the lenders but also because of SMSF compliance.  When purchasing a property in a SMSF you cannot not borrow to improve this property.When you purchase of the plan you essentially purchase the land then lat…[Read more]

As Jamie said there are lenders who will take into account permanent employment if you've only been there for 1 day.  So to say whether your better buying prior to moving it is very hard to answer without knowing.  What employment you are moving to?  eg.casual, permanent Is it same industry,  large pay increase/ decrease.  How much equity do you h…[Read more]

Ultimately whether you use an agent or not what you sell it for is a negotiation.  I would let the tenants know that the listing price is $449K .  Then  leave it to them to make an offer.  If you get a valuation done yes you are going to get a more conservative value, but accurate that could be questionable the way valuations are coming back at t…[Read more]

really personal loan to complete 95% purchase???Dustin McMahon0430 110 304[email protected]

Depending on how you plan on working deposit and other expenses it may be worth looking at getting a property share loan.  These are two seperate loans set up individually.  This way down the track you are only responsible for the loan you take out over the property, and your sister would be responsible for the loan she takes out over the pro…[Read more]

I am one for thinking outside the square when needed.  But if you don't have to why would you.  Ashley you have already said you have significant equity.  DOn't over complicate the finance.  There are lenders that will do good lvr's  to an owner builder with builders licence.  I would go down this path.  no need for fraudulant documents and it&#…[Read more]

I would think in basic terms no you couldn’t do it. Generally to access the cash you would look at taking another mortgage to access the cash. As the client already has a $220k loan they could only access $20k at 80%. They may be able to go to 90% but then they would pay LMI.

Hope this clarifies. Without knowing the full situation and what…[Read more]

It is a very open question. For what purpose are they looking to do it? Eg. Assert protection, for some one else to get finance? There are ways to do both but they are both totally different.

You might need to elaborate on the situation.

Dustin McMahon
Your Broker
0430 110 304
[email protected]

it would be better to leave both loans seperate if you want to make ip2 loan i/o you can but keep it as it's own loan.   as ip1 is the one that you plan to live in this would definatly be the one you want paid off as you have done.  Dustin McMahon0430110304Your Broker

RachelI would agree with Mattsta it is not always best to have these loans cross colaterised.  It maybe best to speak to a broker as your bank is always going to tell you it's best to have all your egg in one basket (theirs!!)  Talking to a broker about what you plan to do can save you time and money down the track.A common problem people are s…[Read more]