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  1. M

    Same lender, new IP, no xcol?

    Trying to learn how these things work :o - I'm still setting up for the future, and the following has been suggested: PPOR - Bank 1 - 80% LVR, IO IP1 - Bank 2 - 90% LVR with LMI, <$500,000, IO IP2 - Bank 3 - 90% LVR with LMI, <$500,000, IO and in the future, to go: IP3...
  2. M

    LOC & buy/reno/hold

    I'm organising a LOC on my existing PPOR. I understand the purchase costs can come straight out of that, and the interest will be tax deductible. Is that right? In implementing a buy-reno-hold strategy, I was also going to take the reno expenses out of the LOC. The reno will happen either...
  3. M

    LMI or not?

    Problem is howto finance first IP... I don't think it matters about PPOR, but the info is: - PPOR is at 80% LVR, Commbank, in my name only. - PPOR is being reno'ed, so can't do a valuation at the moment (eek if a valuer looked inside and saw missing kitchen, tornup bathroom, etc). - PPOR...
  4. M

    Engineer: star rating MUST increase during reno - true?

    I'm in Canberra, and my new engineer for a house reno says that I have to increase the star rating during the renovation - "it's the law". Now, I didn't push it at the time, but thinking back I don't remember reading anything that says this. Does anyone know if the ACT law is that a renovation...
  5. M

    PPOR to PPOR

    I have a tenants-in-common property held for 8 years (as my PPOR) The other party is now buying me out. I bought another property during sale discussions to be ready to move in, intending to reno the new one and move in (becoming new PPOR). However, due to solicitors taking time and xmas...
  6. M

    Bank valuations

    I'm trying to help some people who have been scared by a low bank valuation on a property. I think bank valuers tend to get the property low by about 5-15% (or more) to give the bank room for a fire sale if needed. How much would you say bank valuers "usually" go under based on what later...
  7. M

    IP then PPOR + renovation - how CGT calculated

    Background I have an existing property, PPOR, tenants in common (house1). I will buy a new property worth say $500,000 (house2). House2 will be 105% funded by loan (with surety from house1). Once my co-owner of house1 is ready in 6 months or so, they will buy me out and I will put the money...
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