Not happy with refinanced home loan results
- Thread starter acorn123
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- loan structure refinance
acorn it doesn't work that way and you are creating more of an issue by not fixing the current problem correctly.
I wouldn't say that even the guidance provide may be 100% correct because we don't have visibility on all the numbers - the point is make sure you don't dig yourself a deeper hole.
I wouldn't say that even the guidance provide may be 100% correct because we don't have visibility on all the numbers - the point is make sure you don't dig yourself a deeper hole.
The good news is that WBC are a decent lender so fixing it will be no drama.
This won't change anything about loans or deductibility of interest.
What you are talking about is claiming stamp duty.
The issue isnt about Worstpac, the issue is more likely with the person that helped you do the application I guess.
Within reason, they should be able to reverse the deals and redo it in your preferred way
In the bankers defence - they arent there to provide you taxation advice OR indeed to represent your needs specifically.
As I always recommend to clients, dont take my stuff as counsel. take it to someone licensed and qualified in the area of specific interest, be it income tax, land tax, asset protection etc
ta
rolf
Within reason, they should be able to reverse the deals and redo it in your preferred way
In the bankers defence - they arent there to provide you taxation advice OR indeed to represent your needs specifically.
As I always recommend to clients, dont take my stuff as counsel. take it to someone licensed and qualified in the area of specific interest, be it income tax, land tax, asset protection etc
ta
rolf
You do realise the people that are pointing out the issues here, can actually fix them for you also. Free of charge to you generally too as they are paid by the banks.
If the person at the bank stuffed it up so badly from the beginning then I don't know why you'd expect they will be able to fix their mistakes easily.
The problem with this is you're going back to the people who gave you some really bad advice and trusting them to make good on it. If they really understood the implications of what they're doing, they would have done it properly in the first place.
The structure that's been outlined for you appears to be quite appropriate for your needs you've outlined, but this is based on one very brief post, not a more comprehensive investigation. An in depth discussion with any of the brokers might reveal more information and the end result might actually be significantly different to what has been suggested.
You mentioned you've read the forums for 2 years. Cross collaeralisation and contamination of deductibility are common topics that are discussed here daily.
Good mortgage brokers and lenders do more than get loans approved, they give advice. You need good advice. Going back to the source of bad advice is unlikely to get the best result.
But you need tax advice - how do you know how to split the loans. They are already mixed so you need to work out the relevant portions and split.
Those who cannot listen will feel, is a phrase that comes to mind.
Your structure sounds confusing and that's usually not a good start.
This doesn't sound good. Can you explain?
