Search results

It will be interesting to find out how guarantees will be treated under the new credit reporting that has just come in. Will lenders be able to know the balance of each loan an individual has guaranteed for example?

No, it never worked like this. It was a myth perpetrated by a well known property author. Back then I had clients with 30+ properties and guarantees were taken into account. I think some lenders didn't clearly ask on the forms and because of the number of credit enquiries involved things got...

Strictly speaking if the trust is a discretionary trust then there is no guarantee that the rental income would be distributed to anyone person, even you if you are the trustee or controller of the trustee. This is because of the discretionary nature. So they trusts should in fact hinder...

Receiving rent from properties you own is just seen as rent. Receiving rent from a trust is a trust distribution...

I've got one book with coastymike almost ready. I am waiting to tidy it up a bit and expect it out later in the year.

Doesn't work like that I am afraid. Since each trust loan requires a person was guarantor if that person has guaranteed other loans setting up a new entity will not change anything - they are still restricted by serviceability.