I am about to commence my investing in +ve property. I intend to buy my property through discretionary trusts.
I have set up a company as trustee of the trust and I am sole director.
my question is, How will the mortgage application be handled, e.g. if I apply for the mortgage on behalf of the trust I assume the mortgage will be in the trusts name e.g. abc pty ltd as trustee for def Trust?
The trust will pay the mortgage and receive all rent and be eligible for all relevant tax deductions is this right?
many thanks[
]The loan will be in the name of the trustee and the directors of the trustee will be required to personally guarrantee the loan. It works out to be virtually the same as getting a loan in your own name, but you may have to supply a copy of the trust deed as well.
Trust will pay mortgage and all deductions, any profit left over will be distributed as per the trust deed.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
many thanks Terry.[^]
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