I set up a trust and from my lawyers advice I put my fiance' as a beneficiary.
I applied for a loan through RAMS. On my approval form it states that my fiance' has to sign as guarantor. This was not explained to me by RAMS or my broker. RAMS will not budge on my fiance not signing as guarantor.
Have spoken to another lawyer, he strongly advises for my fiance not sign as guarantor as she is responsible for the debt and also effects her borrowing capacity for future properties.
I thought the solution was for me to put the title in my own individual name. After seeking advice from both my conveyancers and me ringing state revenue with the 2 interstate properties (WA and Tas) I will have to pay double stamp duty on each property, even though the properties have not settled. This is going to leave me out of pocket $10-12k.
From what I've been told state revenue basically want as much cash as possible and will not listen to any excuse or "to be seen as avoid paying stamp duty"
I applied for a loan through RAMS. On my approval form it states that my fiance' has to sign as guarantor. This was not explained to me by RAMS or my broker. RAMS will not budge on my fiance not signing as guarantor.
Have spoken to another lawyer, he strongly advises for my fiance not sign as guarantor as she is responsible for the debt and also effects her borrowing capacity for future properties.
I thought the solution was for me to put the title in my own individual name. After seeking advice from both my conveyancers and me ringing state revenue with the 2 interstate properties (WA and Tas) I will have to pay double stamp duty on each property, even though the properties have not settled. This is going to leave me out of pocket $10-12k.
From what I've been told state revenue basically want as much cash as possible and will not listen to any excuse or "to be seen as avoid paying stamp duty"