Anyone recommend a broker in Sydney western suburbs
- Thread starter Connie
- Start date
I do what I want
I use Terry myself, CJay from Adelaide is also pretty switched on, I had the pleasure of meeting him last weekend.
I'd highly recommend either. You said Sydney so I said Terry.
Connie - speak to Shahin Aafrin (TheFinanceShop) on this forum - a number of investors (some really experienced!) on the forum are Shahin's clients.
What's the purpose of your funding? Brokers can be strong in certain areas and not as strong in others.
I believe nhg - Navid, does mortgage brokering, and believe he's in western Sydney too.
What is the cost of interest on your car over 5yrs at 14% vs the cost of interest over 25yrs @ 5% inclusive of all the fees etc?
I wouldnt think it would be possible to consolidate a car loan into an IP loan and that portion of interest be deductable anyway....unless you are getting a PPOR loan....in any case, refer my question above.
pinkboy
It's no problem to consolidate a car loan using an IP as security, you just need to ensure it's a separate loan account from the original IP loan so the interest can be deducted appropriately.
You do raise a very good point however, most car loans tend to be a short or medium term at high interest, as opposed to low interest over the long term. If you consolidate any personal loan into a home loan it will almost certainly cost more in the long term, unless you do something useful with the month to month savings.
Hi Peter, you mentioned that the car loan be set up as a different loan, separate to the deductible debt. I know most people wouldn't do this, but wouldn't it be ideal to put the money that was going to pay the car loan off into the new loan until such time as it's paid off in full?
For eg: the car loan repayment is $100 per month. A new loan is set up against an I.P. and the repayment is $50 per month. However, you deposit $100 per month into the loan until such time as it gets to $0, then fold it into the I.P. loan and the funds can then be used for additional investment purposes.
For eg: the car loan repayment is $100 per month. A new loan is set up against an I.P. and the repayment is $50 per month. However, you deposit $100 per month into the loan until such time as it gets to $0, then fold it into the I.P. loan and the funds can then be used for additional investment purposes.
Haha, the signature needs an update. My business is evolving and I have found a few role model businesses I hadn't even considered in the first place.
http://www.jims.net/request-a-quote.html
http://www.generaltrades.com.au/
To give you an idea of where I am heading. Though I have some more interesting related projects in the works.
