澳洲Australia property 90% LVR as cash out/equity in offset? | S


在澳大利亚 This has been on RE.com.au for ages. Not a bad rental return. Low PP. Why hasnt it sold? http://www.realestate.com.au/property-unit-nsw-mount+druitt-112536595 评论 ab100 said: This has been on RE.com.au for ages. Not a bad rental return. L Hello everyone, first-time poster, long-time lurker. My wife and I have just bought a house in Hamilton, Newcastle (also own an apartment - or a bit of one at least - in Sydneys inner west which well rent out once we manage to relocate). As


Hi all

Anyone have experience with lenders out there who allow this? Or is increasing LVR to, say, 90%, with the reasoning 'for future investment when and if it shows up' too vague of a reason and therefore will be denied?

Was considering upping LVR and copping the LMI to pursue a more aggressive purchasing strategy...

Comments appreciated....  

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Depends on the lender. Some will do it with almost no questions asked, others will want something more concrete such as a contract of sale for the proposed purchase.

Whatever the requirements, it's usually posible to find a way around them if you've got a good understanding of the individual lenders policy.  

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It's easy, which lender are you with?  

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some lenders have cash out policies that allow this but sometimes they do not follow their own policies and ask for evidence. Which lender are you currently with? and when was the valuation last completed ?  

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Aaron_C said: ↑
It's easy, which lender are you with?Click to expand...
I wouldnt say easy...........possible yes, easy no

ta
rolf  

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Agree love Aaron's optimism but possible rather than easy would have been the word i would have used.  

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what about the tax consequences of borrowing money and parking it in an offset...  

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Thanks for advice, much appreciated, esp the differing points if view. :)  

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Terry_w said: ↑
what about the tax consequences of borrowing money and parking it in an offset...Click to expand...
What do you mean Terry?
Been trying to understand what consequences there are for doing this..

Are you able to elaborate just a bit further please ?  

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Futurist said: ↑
What do you mean Terry?
Been trying to understand what consequences there are for doing this..

Are you able to elaborate just a bit further please ?Click to expand...
You won't able to deduct that money..  

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Futurist said: ↑
What do you mean Terry?
Been trying to understand what consequences there are for doing this..

Are you able to elaborate just a bit further please ?Click to expand...
I've explained this many times recently. As Rawna says - don't expect the interest on money borrowed and placed into an offset account to be deductible.  

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If you're worried about it just stick the money from the loan back into it and save the redraw for later.  

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