Stop saying that, please note at the top of the page is says "Property Investors Forum"
As Terry said. Super is just a different a legal entity with different rules. It can own property.
Buying a property through a trust - FHO / stamp duty / CGT implications etc
- Thread starter aweb031
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As Terry said. Super is just a different a legal entity with different rules. It can own property.
Stop saying that, please note at the top of the page is says "Property Investors Forum"
so we shouldnt comment at all because this is going to be a PPOR and not an investment property?
Thanks all, I've just met with a broker & laid it all out and he seemed quite positive that we will find a loan (though like PT Bear said a few lenders won't consider us as an option)... but all good so far.
At this stage, we are going to go down the route of the property in my name only, though with a joint loan (as I can't afford in on just my salary). So asset protection wise, it probably helps a little bit, but not necessarily a lot - more like you say Terry in that the creditor would have to take us to court to get the court to determine that I hold it on trust for both of us, so they are unlikely to do that (well fingers crossed anyway!).
Thanks everyone for your help, its been much appreciated!
Anna
At this stage, we are going to go down the route of the property in my name only, though with a joint loan (as I can't afford in on just my salary). So asset protection wise, it probably helps a little bit, but not necessarily a lot - more like you say Terry in that the creditor would have to take us to court to get the court to determine that I hold it on trust for both of us, so they are unlikely to do that (well fingers crossed anyway!).
Thanks everyone for your help, its been much appreciated!
Anna
make sure all the repayments come from your bank account, this would be hard to argue against surely.
Hi Marty,
That's a good point - though just thinking this through, if he is a joint applicant on the loan, it probably doesn't make any difference (and may just become more complicated as we want an offset account so would prefer his pay to go directly into that account, rather than via me - though likely only a day or so's difference each time).
I DO think it would make a BIG difference if he wasn't on the loan in which case he would definitely need to be paying me rent effectively...
Will have a think about it, though it can't hurt
That's a good point - though just thinking this through, if he is a joint applicant on the loan, it probably doesn't make any difference (and may just become more complicated as we want an offset account so would prefer his pay to go directly into that account, rather than via me - though likely only a day or so's difference each time).
I DO think it would make a BIG difference if he wasn't on the loan in which case he would definitely need to be paying me rent effectively...
Will have a think about it, though it can't hurt
