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thanks rolf, you can still borrow 90% though for a purchase through a unit trust? also do banks allow borrowing to buy the units in the unit trust, so that one can effectively negative gear the property bought by the trust?

what lenders would you use if there were 2 beneficiaries (not related) and the 2 beneficiaries were the directors of the corporate trustee? Would you still use the big 4 in this case? and also, is it okay for the banks if you have discretionary trusts as unit holders instead of the individuals...

bump. Basically, the main question im asking is where is the 0.9 meter to side boundary measured from, the eave of the roof or the side of the building? Thanks

Hi, I was thinking of purchasing a property in the Campbelltown area and was planning it to subdivide it and build another house, in addition to the existing house. I had some questions, and thought that Somersoft with all its knowledgeable posters might be able to help. I have been...

How does Minto have nothing going for it? Its going through gentrification through the demolition of a large part of the housing commission which has led to Minto One. Prices have gone up a fair bit in Minto as well as rentals as it is close to the train line. It's not the best place to...

Rolf, Thanks for your help. What I was looking at doing was refinancing my current IP, which is only valued at $178,000, with a current loan balance of $117,500. I was looking at getting the maximum amount of equity for the next purchase. I guess with such a small loan amount even at...

Hi Rolf, Is that offer that you posted from Bankwest for all loan sizes or does your total loan balance have to be over a certain amount? With regards to LMI, is QBE LMI a lot cheaper than Genworth on all loans, and not just the First Home Owner loans? Also, I have tried to find this on...

Thats probably the wiser and safer option. The stock market hasnt been kind to me in the past year and i think we might have more of the same this year. I've got around $8K saved up and need to buy a car as well. The Toyota 2.9% finance offer seems enticing to me, but not sure if its worth...

Hi Television, Most of my equity comes from capital gains. I bought my property at December 2008 for $132K, and since the government was then giving the $14K FHOG, it was more than enough to cover the deposit and other purchasing expenses. While I was living in the property for 6 months...

Hi, I don't think paying board to parents limits the ability for kids to invest their savings by a large degree. Being 21 myself, i've payed 2/3 of my income to my parents as board for the last three years which is about $1400 a month going to my parents. Paying this hasn't stopped me from...

hi, wouldn't the CUA 3 year fixed loan be a better product than the AMP one? Interest rate is 6.75% and comes with a 100% offset account, which is a rare thing for fixed loans

I was working full time for 2 years with my current employer, so i can show my group certificates for the last two years. Its just for the last six months that I have been working part time and will be starting full time work again from the start of September. Since I cannot provide...

Part time to full time employment So it varies from Lender to lender. How about in the case of a person going from part time employment to full time employment? Will the banks approve loans even though the wage has not been received for the full time employment (i.e. can only show in the...

so it could possibly be better to move out and rent yourself, which would allow you to rent the whole property (granny flat + main house), especially if there will be large capital gains in the 6 years?

Hi Terry, Say a person purchased their main residence and lived in it for a year. They then built a granny flat which they rented out. Is that person entitled to the 6 years main residence CGT exemption and if he/she sold the property within 6 years of building the granny flat, will there...

Thanks for clearing it up. Will have to wait till November till I start working full time then. Btw, what other changes occurred as a result of the new gvt legislation and which bank is the best for serviceability for a low income earner? I also have the option to start working full time...

Hi all, I was interested in a purchasing a positively geared property, and since I am at uni now, I get youth allowance. What i'm interested to know is if the banks take into account youth allowance in calculating loan serviceability? If so, which lenders take into account youth allowance...

Hi Gnome, I am assuming you go to UNSW, cause I go there too. With regards to the housing commission in Hillsdale, I never knew there was one in Denison street because that street is mostly Orica on the one side and mosty commercial property on the other. The Housing Commission that I am...

Thanks guys. Still not sure whether or not to buy the place. On one hand, theres the risk that the council will order to demolish the g/f but on the other hand the reward of having a good yield with a house for under $300k seems hard to pass up (the house itself without the granny flat is a...

This is the pic of the granny flat. Uploaded with ImageShack.us As you can see, it doesn't meet the required side setback of 0.9 metres and the rear setback of 5 metres. I was reading in another post that Brazen, was able to get a building certificate for an unapproved granny flat...