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We are currently at 81% LVR on our PPOR and we'll be on fixed rates of 5.99 and 4.99 for another 17 months. Last val was $585k in August. We were originally going to buy an IP in the new year (around $200k pricepoint) but we'd have to have high LVRs to do it (not to mention LMI) Now...

Hi all. My question is simply: Can a lender charge you LMI on the same property twice even though a new valuation is higher and therefore your LVR reduced? We got a mortgage with RAMS for a 90% lend on our land and construction valued at $495k on completion. We also put in an extra $27k of...

Hello everyone! So following our PPR valuation (HTW, not a RA appraisal), this is our position: PPR $585,000 Owe $434,000 Estimated 2013 taxable incomes: Husband: $60k+ Me: $40k+ We have been self employed for 4 years (2013 will be our fifth return in self employment) Our...

Hi all, in reference to my earlier thread regarding our PPOR being valued during the construction phase, can someone (perhaps a Valuer?) please explain to me the difference between valuing a property TOC (tentative on completion) and valuing the completely finished home? We are hoping to get a...

Hi all. We are 3/4 through building our PPOR and hope to buy an IP quite soon using equity from this home. As we needed more money to complete the build (the fencing budget was only $3k, quotes have come in at $15-$20k) we asked the bank (RAMS) to get a valuation done to finance the increase...

Hi everyone, we are currently about to build our PPOR on a block so we can stop renting, pay down our mortgage ASAP and start investing in property. Our Land cost is $151500, our Construction cost will be $320000 (we are aiming at a bit over $300k with a buffer). So the Total Lend would be...

Hi all. This may seem like a really dumb question but should we put our funds in our ANZ Progress Saver account ($22400) onto our RAMS Rate Shearer Loan (our Land Loan) rather than keep it in the ANZ account temporarily? We are currently working out a house plan with our chosen builder and will...

Hi all. We built a home in 2002 which was our PPOR until end of February 2009 when we relocated to start our Small Business. So our PPOR became an IP by default. Our IP was available for rent from March 2009 until the end of a tenancy which went from May 2009 til December 2010. I didn't know...

Hi everyone! We are self employed and having just sold our IP have a cash Deposit of $45k to purchase a block of land. We were originally informed by ANZ that we could borrow enough to buy the land and then build. However, they have now changed their position on this and will only lend us...

As the title suggests, my mother can no longer manage the home she owns (parents divorced many years ago, Dad signed the house over to her). It's very rundown and not safely livable, as Mum is a Disabled Pensioner, she is financially burdened by the house and also in poor health. The family...

Hi everyone in Property land! As the title suggests, we are self employed (ABN is 2 years old with 2 Tax Returns under our belt so far). We currently have our tenented IP on the market with a keen buyer waiting on the sale of his PPOR before submitting an offer on our property. So it's a...

Hi everyone, Our problem relates to what happened with our IP's gas supply after we had vacated and cancelled our account with the supplier. The IP has Gas hot water and heating, we left our heater there for tenants use. We vacated the property on Feb 27 2009 and moved to another town an...

Hi all! We are seriously thinking of selling our IP so we can buy locally and stop renting (IP is in another town as we have relocated). I have no idea how much the agents commission is, what fees and charges are payable etc. As IP was our PPOR until a year ago, I know that we are CGT...

Hi everyone, just a couple of queries regarding deductions for an IP. As the ATO site only states the word 'insurance' as a legal deduction, does that include Buildings/Contents or just the Landlord Insurance? Also, while still living in our IP (as PPOR before we moved out) our air con caught...

Hi all, I have previously posted a thread 'Using IP to buy PPOR' we are still considering selling our IP to get into our PPOR this decade instead of maybe never! IP was valued at $300k 2 1/2 yrs ago, mortgage owing $216k ($170k fixed at 7.74% til Oct 2010, $50k var at 5.89%) Rental return...

Hi all, here's our situation: We have our IP (former PPOR in another town) currently tennented at $350 pw. We have moved and have been self employed for a year. IP was valued at $300,000 2 1/2 yrs ago, currently owe $216,000 on mortgage. Mortgage consists of $170,000 fixed at 7.74 % til...