Take CBA. Let’s assume the bridge is only for a short period. That is, you have already sold house, but won’t settle until (say) 2 months after...
Do most banks (take big 4) assess bridging loans for servicing based on end debt (ie. final debt following sale of property?)
Terry, if the company buys, you are still required to pay 10% on fall of hammer, so liability still quite high (you will lose at least your 10%)....
I suppose you could sign the contract as XYZ Pty Ltd and/or nominees to allow the property to go into different names at settlement.
In Victoria, many in demand properties go to auction, which makes it difficult to bid subject to conditions (eg. subject to finance). I say...
Having just sold a PPOR, we have decided to rent for a period of time. I was close to signing a 6 month lease for a rental, only to baulk at the...
I thought it was all the vogue to label something as ‘once off 30th wedding anniversary OS trip’ as opposed to ‘recurring private school fees’.
Person who owns 20 Worseley Rd studied at Oxford as a Rhodes Scholar. Among his many achievements!
[ATTACH] You could buy this one in Melbourne. Asking $45m. Been on the market for some time, probably overpriced.
An employer must contribute at least 9.5% of your pre-tax to super as I understand it. If you are salary sacrificing more than the 9.5%, then...
Is this change (including direct property related costs) across the board with all banks?
I always thought the 80% shading was to account for property related costs. Now it appears to be for ‘volatility’. On that note, a PAYG income is...
A question for the savvy mortgage brokers out there. I am thinking a establishing a company to assist with managing my property portfolio. I am...
Another related issue. You can always put in offers ahead of the auction ‘subject to finance’. Provided the period you ask for (to get full...
Thanks Peter. I thought as much. I once purchased a property with conditional approval and the bank would not proceed once I had a CoS as the...
When buying properties, it is prudent to have your finance conditionally approved ahead of making an offer. You then make an offer ‘subject to...
Of course, when you sell, the purchaser will generally release the deposit early to the vendor. This needs to be invested, and the best way to do...
Apart from selling, breaking is also a way of bringing tax deductions forward as I see it. If the break costs are equivalent to the capitalised...
If you sell an IP that is funded through a fixed rate loan (and pay off loan in its entirety), the bank will ordinarily charge you a break cost....
I remember the recession in 1991. Was at uni at the time but needed a part time job to keep the wolves from the door. Forget about sending CVs...
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