capitalisation of stamp duty on purchase of property

Viewing 4 posts - 1 through 4 (of 4 total)

zep90210
Member
@zep90210
Join Date: 2007
Post Count: 3
October 3, 2007 - 4:25 am
hi guys, if i wanted to buy a house for myself to live in, will i be able to capitalise or incorporate stamp duty on the purchase of property ($18,000) into my loan amount of $420,000 for a house worth $450,000.
thanks fellas, erica.
Administrator
Keymaster
@piadmin
Join Date: 2013
Post Count: 3,225
October 3, 2007 - 4:27 am
Dear Erica,
Depending on your financial situation the bank should be able to incorporate the stamp duty and other associated costs of the purchase.
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
October 3, 2007 - 9:47 am
You can generally borrow up to 95% of the value of the property. 95% x $450,000 = $427,500 which wouldn't be enough.
There are some lenders that can lend to 97% and some can even lend 100%. Don't forget you will be up for LMI as well and this will be another 2-3% of the loan amount.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
rinve
Member
@rinve
Join Date: 2007
Post Count: 2
October 5, 2007 - 2:03 am
Hi Erica
I have just joined the forum and have found lots of useful information in the process.
I have found some good info about how to deal with property tax
http://rspark79.1ifbyland.hop.clickbank.net/
hope its helpful to you…
Goodluck
Cheers
Rinve