Paul,
Thanks for the response.
Sorry for the confusion caused. Yes its one duplex with two dwellings.
We spoke with council and the council would allow strata subdivision. Landcom advised me that they allow individuals name in the title.
It should be OK for us to buy land outright...
My friend's family with my family are buying a land from landcom in NSW which is suitable to build a strata titled duplex. We still haven't exchanged the contract. Currently the all the four names are in the contract.
Our end goal is to build two duplexes and hold long term. My friend's family...
Thanks Terry, Jamie and Peter. Unfortunately the lender don't have LOC facility. With the limitations, I think the best is to move the offset credits to loan account and pay investment expenses from loan account? I will keep minimal cash in the offset account (fees for the additional loan) so...
I have been approved with 100K equity from my loan provider.
The lender has created a new loan and offset account for the split. The funds are now released by the lender and they kept it in the offset account.
For investment purposed, should I draw down the loan and make the payment from...
Thanks Terry. I know there is not much savings but if the plan is to build and sell quickly probably there could be some saving and leverage the flexibility of the trust?
I am buying two lands and planning to build. Just found out from OSR website that NSW new home owners grant of $5000 be availed only once in a financial year.
http://www.osr.nsw.gov.au/grants/nhg/faq
By setting up a trust or company, could it be possible to avail the grant for the second...
Thanks Jon. This is one of the smaller lenders. They are very good otherwise. So I don't want to mention their name here. I am fine here as I am getting cheap money from my current lender.
My current lender approved a $200K equity loan but the funds only be released for buying a land (their credit policy). I am planning to buy a land costing 350K soon. Since the full equity has to used for the purpose of buying a land, I am going to use $200K equity and 150K loan from another...
I would like to get your advice to set up structure of two investment properties.
Below is my scenario.
1. I have just one PPOR with 500K IO loan. Offset credit of 300K. Current lender won?t allow equity loans but allows split loans.
2. I bought a land from landcom over the weekend. I also...
I have a competitive offer to a development site in regional NSW. The site comprise of 2 titles. Total cost around $800K.
I have just spoken with the town planner and it would be possible to build 16 town houses in the land.
I am going to join with a friend to build this property. We both...
I have a PPOR worth 700K. Loan 450K. I can get 20% equity loan from my current lender.
My broker advised me AMP/Homeside Lending/Westpac or CBA for my IP.
Not sure whom to choose. My plan is to buy an old house and build a granny flat.
Which lender is good for best interest rate and...