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Trent

2 years ago

Hi Dan, I assume that you are operating under the professional advice of your accountant or lawyer given you are looking to structure your loan under a trust. You most certainly need the assistance of a broker who can effectively liaise with your accountant or lawyer to ascertain the most appropriate product for your specific needs, goals and circumstances. Most brokers can secure you a competitive interest rate on your loan, however I suggest you find one that will delve a little deeper into your situation to ensure you are recommended a loan that provides you with the best value rather the lowest rate. Interest rates are only one piece of the puzzle when working with complex loan structures and a thorough assessment of your overall situation is required to ensure you receive a loan tailored to your individual needs. Stokes & Maker Financial Services is a boutique financial services broker focused on bespoke, individually tailored lending solutions and premium service. We are based in Brighton but can come to you to discuss your requirements. We do not charge our clients for any aspect of our services as all service related fees are charged to the lender. If you have yet to secure a broker to assist you, please get in contact for a confidential and obligation free discussion. Kind regards, Trent Stokes

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Daniel

2 years ago

Hi Dan. Special on at 3.88 with as you say with a 20 to 30% deposit P&I repayments regardless of the borrowing entity. I assume your accountant has provided you with taxation advice and has set up the trust for you. You will need two years financials for the best rates. Glad to assist. Regards

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LEZLI

2 years ago

Hi Dan. No problem. Doing similar right now. Great rates also. Contact me & I can help you. Kindest regards. Lezli

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Simon

2 years ago

Hi Dan, Sorry to add to that, I would strongly suggest getting some financial and legal advice prior to setting up the trust. For example, if you were to distribute money from the trust to your parents (which it sounds like is the intention) would that affect their entitlement under DVA, Centrelink etc. Unfortunately I have seen where people have gotten it wrong!

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Simon

2 years ago

Hi Dan, Before I comment I just want to be clear that the best structuring from a borrowing perspective may not be the best from a other viewpoints (tax, estate planning etc.) If you were to go as the sole trustee or sole director of the trustee company then most banks will only look at you (and your dependents) when calculating borrowing power. Your parents being beneficiaries won't effect most banks calculations. Borrowing in your capacity as a trustee reduces the number of banks that will lend to you, and if you have a trustee company it will reduce that number again. You will have generally have access to the standard loan products for banks that support lending to trustees (with some exception where the product is more expensive). Regarding interest rate, if you are concerned with getting the 'best' deal I would suggest staying away from a trust structure. You are restricting the lenders that will look at the loan and will be hit with ~$750 in additional upfront fees from the lender (this is not even to mention accounting and legal fees). Additionally interest rates for investment lending and especially interest only lending are in a state of flux at the moment. By the time the trust is set up and you have found a property everything will have changed again. I would suggest focusing on finding a trusted adviser that can help you through the process and get you the 'best' deal available when the time comes. I'm located in the Melbourne CBD. If you would like to discuss your situation on more detail please click through to my profile and select 'Contact Me'.

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