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glenglen
52 Posts
glenglen
52 Posts
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glenglen

Joined 8 October 2009
Loyal Member
8 years8 yearsglenglenglenglen posted:
Purchasing IP with PPOR Redraw & Tax Implications

what is the tax implication if you
a. Don't change the redraw facility's balance at all.
b. Frequently change redraw facility's balance.
Hi Gary,
Unsure what exactly you are asking, weather you are redrawing…

8 years8 yearsglenglenglenglen posted:
Should I change lender?

Police and Nurses are very good but you must be careful of what you are actually signing up for with their products. It costs extra for an offset account to…

8 years8 yearsglenglenglenglen posted:
Your take on non-bank lenders (eg MyRate, Homestar..)?

I remember a company called 'wizard' that was exactly the same as the non bank lenders you mentioned initially. Ask any ex wizard customer how that turned out? I like…

8 years8 yearsglenglenglenglen posted:
Bank West

Never had any problems in regards to Bankwest releasing mnies etc. There service is quite good as well. If only they would bring back some of their decent products and…

8 years8 yearsglenglenglenglen posted:
Help!! Construction Loan: Land title not due till June 2011

Hi kktan9812,
Think you are flirting with danger if you are going to sign a contract not subject to finance but you will actually need finance for the purchase, especially if…

8 years8 yearsglenglenglenglen posted:
Financing options without enough deposit

Hi Geo,
Would need more info on your situation but you may be able to use some of the $50k equity as the deposit. Suggest you use two different lenders, one…

8 years8 yearsglenglenglenglen posted:
Bank valuations

The lender doesn't usually value the house at completion, there is no reason why? They have already lent u the money etc so it doesn't do much for them.
If you…

8 years8 yearsglenglenglenglen posted:
Question about joint loans

Hi KT+2,
Go see them again. They must have misunderstood you as I can't understand why they would say that? If they say that they wont do it again, go to…

8 years8 yearsglenglenglenglen posted:
Loan to repay family members post construction)

Hi guys,
Not a general comment at all. For a start try AMP, they openly advertise the fact that they will go 80% with no questions asked on the purpose.
There…

8 years8 yearsglenglenglenglen posted:
Loan to repay family members post construction)

Hi dave,
Couple of ways you can do it. There are a number of lenders out there that will give you cash out up to 80% with no questions asked, and…

8 years8 yearsglenglenglenglen posted:
What's your mortgage interest rate?

With fixed interest rates down to 6.49% (6.67% comparison) for one year and 7.39% (6.95% comparison) for 3 years at the moemnt, you would think more people would be looking…

8 years8 yearsglenglenglenglen posted:
Principal or interest only? need some help/ advice

Agree with 75etd in regards to the 6 year rule for CGT excemption except you only need to prove you lived in the house, that is a utility bill or…

8 years8 yearsglenglenglenglen posted:
Change loan/Bank after settlement

With the CBA's rate at the moment and i think it costs $700 early repayment fee along with the settlement fees, it wouldn't take you long to get your money…

8 years8 yearsglenglenglenglen posted:
What's your mortgage interest rate?

Choicelend...6.3%...no monthly fees...no annual fees.....no fees at all......very happy and the service is second to none.....

9 years9 yearsglenglenglenglen posted:
Mortgage Insurance query

Cheapest way for MI is too use two completely different lenders but you need to have that set up initially otherwise you get into this type of situation.

9 years9 yearsglenglenglenglen posted:
Land Tax rebate in SA

Look at this site
http://www.revenuesa.sa.gov.au/
From what I can see, the answer is that you would get a refund since this is going to be your PPOR.
(iii) where…

9 years9 yearsglenglenglenglen posted:
Newbie for House & Land Package

Look up Galilee solicitors, they are in all the capital cities. Im in Perth and only know there number here

9 years9 yearsglenglenglenglen posted:
Mortgage Insurance query

The mortgage insurers charge the lender different amounts depending on the lender. As soon as you know the value and your loan amount (and he lender), you should know how…

9 years9 yearsglenglenglenglen posted:
Changing principal place of residence finance query

Hi Zac,
Go see an accountant and expain your situation. Unfortunately they will most probably say that if you are using the $70k for private use, no tax benifiet as 75etd…

9 years9 yearsglenglenglenglen posted:
Changing loan from Investment to Standard loan

mqtutor,
Vic has the threshold of $250k so you probably will have to pay the land tax. Early next month the Henry review of the Federal tax system gets released and…

9 years9 yearsglenglenglenglen posted:
Mortgage Insurance query

Hi ELH05,
Probable answer would be no however would require a lot more information.
Glen

9 years9 yearsglenglenglenglen posted:
Changing loan from Investment to Standard loan

Hi mqtutor,
Would need to know a little bit more information however you wont need to change your loan at all. The only thing with the lender would be if you…

9 years9 yearsglenglenglenglen posted:
Bridging loans - help!!!!

Hi Penny,
Depending on which bank you go to depends on how they work their bridging finance. Most lenders length of time is 6 months, there are some that go to…

9 years9 yearsglenglenglenglen posted:
Buying my first land

First time,
Different states different rules for FHO. In WA the rule is that the FHOG and the stamp duty concession isn't given until you build on the land. therefore, if…

9 years9 yearsglenglenglenglen posted:
Wat is the common method for investment?

First time,
You seem to be doing everything correct in regards to investing, that is getting the information you need to make a decision.
3 people you need around you that you…

9 years9 yearsglenglenglenglen posted:
Is it worth having redraw on the Home Loan?

Be carefull if paying your martgage off quicker and using the redraw facility if you need cash.
Depending on what you do with this property later in life means you being…

9 years9 yearsglenglenglenglen posted:
Confused about using Land Equity on a Construction Loan?

Different lenders use different percentages as to what they will refinance up to. Depending where the land is situated depends what that percentage is.
Normally, if you have a loan of…

9 years9 yearsglenglenglenglen posted:
Redrawing on an Investment Loan

Best thing to do would be to use the equity in purchasing another investment property. The funds will therefore be deemed for investment and become tax deductable. The maximum interest…

9 years9 yearsglenglenglenglen posted:
Principal or interest only? need some help/ advice

Uncle Tonsky,
Ensuring your loan is structured correctly from the beginning can save you thousands of dollars later on. Since you already know that you are going to be renting this…

9 years9 yearsglenglenglenglen posted:
FHOG as deposit?

Depends which state you are in. In WA you can go to Keystart who requires a 4% deposit, 2% gen savings and the rest can be made up of FHOG.…

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Joined homeone
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