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    Correct Finance Structure for HDT

    Update: It has been clarified by our accountant that the guarantor is irrelevant, as long as the borrowing is in my personal name, and the property ownership is in the company name. This is what I understood from the start, but the lender and broker is saying that mainstream lenders wont do...
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    Correct Finance Structure for HDT

    Hi Pat nice to hear from you ;-) So just to clarify what you are saying, the trustee (the P/L company) holds the security, so therefore should not require a personal name on the title! I don't have a problem with this at al,l but Im being told by the lender, and a broker who has asked 3 of...
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    Correct Finance Structure for HDT

    Yes, I am the borrower and also the director of the Trustee company that will own the property. Are you saying they shouldn't have to have my personal name on the title at all?
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    Correct Finance Structure for HDT

    This makes sense to me too... I will have to check that there hasn't been a miscommunication between the lender and accountant as this doesn't sound right. Thanks, Adam
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    Correct Finance Structure for HDT

    We recently set up a HDT and have now signed to purchase a new property to owned under it. I have received approval from a lender, but our accountant is suggesting that the lender is structuring the documentation incorrectly. The HDT has a company as trustee of which I am the sole...
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    GST Registration for finance

    From what I can gather, because of sub-prime etc, one of the mortgage insurers are now just doing a simple GST registration test on Low Doc Applications if a business claims more than $75k. This seems fair, I just thought this included any Salary and Rental income, which didn't seem fair.
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    GST Registration for finance

    This makes much more sense and wish it was explained to me earlier... I wonder if putting Salary, Self Employed income and Rental Income (as I have all 3) on a loan application would help, or whether I should just stick to stating the self employed income and keep it under $75k.... Any...
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    GST Registration for finance

    I have just re-read your post and just want to clarify what you mean... are you saying that you can therefore theorectically say: $74k Self Employed Income $50k Salary $20k Rent and and therefore you would not be required to register for GST?
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    GST Registration for finance

    I dont plan on selling within 5 years so this should be fine then. As an employee, I dont really make sales, although I have sold other property owned in my own name last tax year. I should clarify that he is not suggesting I claim more than I earn, but much of my income such as rent...
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    GST Registration for finance

    My broker tells me in order to get finance to fund our next IP, I will need to register for GST as my declared income will be greater than $74K, however our accountant suggests we do not register for GST on the ABN under my own name which I have had for more than 2 years. I feel caught...
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    "Tentative On Completion" valuations and finance

    75-80% sounds fine, but what sort of rates?
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    "Tentative On Completion" valuations and finance

    This will be just 3 units, so perhaps not too complicated... I wonder if there are any banks doing TOC vals on Low Docs loans...???
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    "Tentative On Completion" valuations and finance

    Thanks for all your replies! Sounds like I should be looking to commercial finance if I want to go up this road then, or perhaps I may be able to do it with a low doc at 80% of cost. Adam
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    "Tentative On Completion" valuations and finance

    Hello, We are looking at building some units and have heard of getting "Tentative On Completion" valuations in order to borrow against the completed value of the development, rather than just borrowing a percentage of the building costs. Developer Martin Ayles mentions this type of...
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    Purchasing in VIC - Frankston Area

    Thanks.... I couldn't see it while not logged in. Cheers, Adam
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    Purchasing in VIC - Frankston Area

    Great thread - First Post I think this is my first post on SS, and thought this was a great thread. Keep it up. (I believe this is how I subscribe to it):confused:
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