Hi Everybody.
I’m trying to set up my structuring now to avoid maxing out. But i’m not sure how to go about it.
I currently have one investment house in my own name and i am still living at home for the time being. i don’t have any kids or a missus.
I’ve starting looking into trusts and the like but since i already have a loan in my name it seems like before long i will be maxed out and unable to borrow anymore.i’d love it if someone was able to point me into the right direction to start looking into or let me know if i have already stuffed up by having one in my own name.
You will max out at some point. Generally where a borrower is a company and you give a guarantee if you go and apply to borrow again, if your own name or under another company, the loan you have guaranteed will count the same as if you were the borrower yourself.
There are limited lenders where guarantees may not be counted as debts, if the borrow can demonstrate they can pay the loan without help from the guarantor.
Speak to a lawyer about ownership structure and a broker about borrowing.
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
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