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  1. Terry_w

    Equity loan payout when selling

    Need security values and loan amounts to work it out
  2. Terry_w

    Equity loan payout when selling

    They could pass control of the trust to you. But under the social security Act there are 2 tests which would capture trust assets and deem them assets of the person - the source test (e.g tomato or BBQ) and the control test.
  3. Terry_w

    Equity loan payout when selling

    Consider your parents keeping their house and renting one you own. Need to work out effects on pension though. But when you factor in selling costs and buying costs it will be around 10% of the value gone. You also have your costs of purchasing it too. It could still be CGT exempt for up to 6...
  4. Terry_w

    Equity loan payout when selling

    Best to do it all at the same time maybe. Or settle on the PPoR purchase and set up a separate LOC at the same time. Once settled use the LOC to pay down the investment split on the one you are selling.
  5. Terry_w

    Equity loan payout when selling

    As long as there is enough LVR in the IP. Will your PPOR settle before you discharge the mortgage on the sale IP?
  6. Terry_w

    Equity loan payout when selling

    If you sell a property which is mortgaged and securing a loan then the mortgage must be discharged before settlement. This generally means the loan must be paid off. But you can also keep the loan open and substitute the security to a different property. Tricky sometimes. Paying off the...
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