| Questions and Answers

Ian L.

Rouse Hill, NSW

1 Likes
0 Followers

Home Loan is 590k and our home is around 900k. I called our lender and they dropped our rate from 4.34% to 4.04% this week. Is that enough, could they do better or should I look to refinance?

View responses or answer (5)

8 years ago

Michael C.

Edith, NSW

31 Likes
6 Followers

Just bought a pub freehold and we will be owner-operators. We are going through the insurance process and been told we need to insure the pub for 60% more than the purchase price. Does that sound right or would we be paying a higher premium unnecessarily?

View responses or answer (3)

8 years ago

John C.

Revesby Heights, NSW

3 Likes
0 Followers

We have a small loan, 150k on our home probably value about 900k and an investment loan for 460k and value of property 600k. We spoke to a broker about refinancing and they suggested combining the two loans into one loan over our home and leaving the investment property with no debt. Is that a good idea?

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8 years ago

Sammy T.

Cabarita, NSW

6 Likes
0 Followers

I have been wanting to refinance but for whatever reason didn’t get around to doing it – now I started a new job 2 weeks ago …. same profession but new company.
Could I still refinance … loan amount $630,000?

View responses or answer (4)

8 years ago

Bill S.

Mortdale, NSW

0 Likes
0 Followers

My wife and I are in our early 70’s and concerned about the money coming in and how it is impacting the things we want to do. We own our family home and would like to ask about the implications of our 2 kids buying into our home? Are there tax issues for us or them?

View responses or answer (1)

8 years ago

Marcus E.

Petersham, NSW

6 Likes
0 Followers

I have stable employment and earn $220,000 a year. Unfortunately, I made a poor decision to get involved in one of those investment schemes where you get tax deductions up front.

The tax department has since closed down this scheme and I now have to pay $180,000 to the ATO. I have 2 properties but there isn’t enough equity to refinance and pay the ATO.
I don’t want to declare myself bankrupt and would like to know what other options are available?

View responses or answer (8)

8 years ago

P M.

Fortitude Valley, QLD

2 Likes
0 Followers

Is it possible to apply for a commercial loan when investing in a block of 6-8 units (residential tenancy, units registered together as one). I understand there would be a lower LVR in this scenario but just wondering if this is possible.

Would a commercial loan take into consideration my own serviceability from my own personal income?

Thanks.

View responses or answer (2)

8 years ago

Rikki W.

Caringbah, NSW

2 Likes
0 Followers

I have an interest-only loan with Westpac at 4.84% and owe $680,000. If I change to principal and interest what is the best rate I could get without paying an annual fee?

View responses or answer (5)

8 years ago

AnneMarie K.

Burnside Heights, VIC

4 Likes
0 Followers

Any feedback would be greatly appreciated. There was a mobile speeding camera that was attached to the car and it was at night time that I went past it at the opposite direction. Now, my question is, because I was going opposite direction, and their was a very island in the middle of the road with big trees that was separating the road, do you think the speeding camera would of caught me if I was speeding (considering there was a long island in the middle of the road with trees in the way)?

View responses or answer (2)

8 years ago

Chris T.

Edgecliff, NSW

0 Likes
0 Followers

Hi, there’s a property in Glebe I’m thinking of buying …….. it is a townhouse with a commercial zoning and a business operating on ground floor…I would live upstairs. My question is what percentage of the purchase price could I borrow?

View responses or answer (3)

8 years ago

Tim A.

Liverpool, NSW

1 Likes
0 Followers

Is it possible to minimise tax when you receive a TPD payment? I’m 53 and expecting about $300,000 – do I put into super and will that stop me from being able to access fund when I need it?

View responses or answer (4)

8 years ago

David B.

Hornsby, NSW

3 Likes
0 Followers

We are looking at retirement village options for our parents and wanted to know if stamp duty is payable at any time, thank you?

View responses or answer (2)

8 years ago

Ben B.

Frankston, VIC

3 Likes
0 Followers

I have the 15% plus the cost to buy a property, $850,000 – is there a way around having to pay mortgage insurance?

View responses or answer (3)

8 years ago

Sam P.

Penrith, NSW

4 Likes
0 Followers

My boss has asked if want to have a car allowance incorporated into my salary. As I understand it means less take home pay but are their real benefits for me. Is it better to get paid my full salary and just claim the car business vehicle expenses. Who benefits most, me or my employer?

View responses or answer (1)

8 years ago

Pete A.

Zetland, NSW

4 Likes
0 Followers

My partner and I are separating but I would like to try and keep the home. The property is valued at $1.3m and we currently owe $290k. We have agreed on a settlement amount of $700,000 and I would like to see if I can increase the loan to $1M. I have stable employment and earn $270k p.a. There are no other debts, no children and I could rent out the spare room for $110pw. Is this possible?

View responses or answer (5)

8 years ago

Linda R.

Loongana, TAS

0 Likes
1 Followers

A member of our sports club was cooking a BBQ as a volunteer. The BBQ began to catch fire as someone had removed the original fat catcher and replaced it with a smaller object. Fearing there would be injuries to children in close proximity 2 members decided to try and remove the source of the fire (the fat catcher). In doing so one member was seriously burnt. Now the club and insurance company are refusing to compensate saying they are not liable as they made the wrong decision. Is this correct?

View responses or answer (3)

8 years ago

Mary J.

Elsternwick, VIC

3 Likes
0 Followers

We just started to get things in place to sell our unit but we have found a house we would like to make an offer. We don’t have access to funds to exchange on the property straight away so if we apply to increase our home loan from $300,000 to $800,000 could they let us use the funds to exchange?

View responses or answer (3)

8 years ago

Theo S.

Chipping Norton, NSW

1 Likes
1 Followers

Can I ask what the best 3-year fixed rate is for the property I live in and can I pay extra into the loan when by bonus comes through?

View responses or answer (4)

8 years ago

Tim M.

Neutral Bay, NSW

1 Likes
0 Followers

I’m about to buy an investment property and will have to pay mortgage insurance to get the loan. Is the entire amount tax deductible and when can I claim it?

View responses or answer (2)

8 years ago

Marco A.

Rodd Point, NSW

1 Likes
0 Followers

Hi, I’m a small business owner about to buy a new car. What is the luxury tax threshold and what are the implications from a tax perspective if I’m $5-10k over the threshold?

View responses or answer (3)

8 years ago

Home Loan is 590k and our home is around 900k. I called our lender and they dropped our rate from 4.34% to 4.04% this week. Is that enough, could they do better or should I look to refinance?

Just bought a pub freehold and we will be owner-operators. We are going through the insurance process and been told we need to insure the pub for 60% more than the purchase price. Does that sound right or would we be paying a higher premium unnecessarily?

I have been wanting to refinance but for whatever reason didn’t get around to doing it – now I started a new job 2 weeks ago …. same profession but new company. Could I still refinance … loan amount $630,000?

My wife and I are in our early 70’s and concerned about the money coming in and how it is impacting the things we want to do. We own our family home and would like to ask about the implications of our 2 kids buying into our home? Are there tax issues for us or them?

I have an interest-only loan with Westpac at 4.84% and owe $680,000. If I change to principal and interest what is the best rate I could get without paying an annual fee?

Hi, there’s a property in Glebe I’m thinking of buying …….. it is a townhouse with a commercial zoning and a business operating on ground floor…I would live upstairs. My question is what percentage of the purchase price could I borrow?

Is it possible to minimise tax when you receive a TPD payment? I’m 53 and expecting about $300,000 – do I put into super and will that stop me from being able to access fund when I need it?

We are looking at retirement village options for our parents and wanted to know if stamp duty is payable at any time, thank you?

I have the 15% plus the cost to buy a property, $850,000 – is there a way around having to pay mortgage insurance?

My boss has asked if want to have a car allowance incorporated into my salary. As I understand it means less take home pay but are their real benefits for me. Is it better to get paid my full salary and just claim the car business vehicle expenses. Who benefits most, me or my employer?

We just started to get things in place to sell our unit but we have found a house we would like to make an offer. We don’t have access to funds to exchange on the property straight away so if we apply to increase our home loan from $300,000 to $800,000 could they let us use the funds to exchange?

Can I ask what the best 3-year fixed rate is for the property I live in and can I pay extra into the loan when by bonus comes through?

I’m about to buy an investment property and will have to pay mortgage insurance to get the loan. Is the entire amount tax deductible and when can I claim it?

Hi, I’m a small business owner about to buy a new car. What is the luxury tax threshold and what are the implications from a tax perspective if I’m $5-10k over the threshold?

I have been wanting to refinance but for whatever reason didn’t get around to doing it – now I started a new job 2 weeks ago …. same profession but new company.
Could I still refinance … loan amount $630,000?