Resi Has Reduced Fix and Alt Doc Rates

Resi has reduced its rates on the Flexi Options Fixed and the Agility Alt Doc products

Resi Flexi options fixed 2 & 3 year up to 90% LVR 2.99%%

  • Offset account available on all loans including fixed

Product features:

  • NRAS properties up 80% Refinance
  • Construction up to 95% For O/O
  • Construction of up to 4 units on one title
  • O/O lending starting at 3.29% P & I Variable
  • Bridging Finance Servicing on end debt only
  • No Credit Scoring below 80% LVR
  • Investment lending. Starting at 3.59% P & I variable
  • Investment lending up to 90% I/O
  • Offset account available on all loans including fixed

Resi Agility Alt Doc (Lo Doc) product:

Alt Doc special:

One form of supporting income document required for all Alt Doc Products:

  • Accountants Declaration
  • 6 month BAS
  • 6 Months Business Bank Statements

Rates starting at 4.62% for LVR up to 70% and 4.72% for LVR up to 80%

Product Features:

  • Alt Doc funding
  • Defaults and Non-conforming
  • LVR's up to 90% on Alt Doc
  • Business Lending up to 80% LVR when security is by Residential property
  • Unlimited cash out up to 80% LVR

For all supporting document checklists, service calculators and rate cards please go to:

Vow Intranet

Or contact our sales team who will be more than happy to assist with any scenario or question:

For general enquiries, please call 1800 737 448 and select:

Option 1 for Sales team or

Craig Herden: National Sales Manager on 0478 537 841 or

Tony Wakim: NSW BDM on 0416 409 100 or

Option 2 for Credit team or

Matthew Cragg: National Credit Manager

Option 3 for Service team or

Celina Tramontini: National Service Manager

Last Chance to Register for the National Conference

We are closing registrations for the National Conference soon so now is the time to register. Don't miss out on this amazing opportunity to hear from some incredible speakers and to take part in the Disney Institute session. The conference is the perfect chance to hear about what is happening in our industry and we have added Peter White from the FBAA to the line-up to give us all an update.

If you haven't already registered NOW is the time to make the decision to invest in your business and to make the most of an opportunity to broaden your network.

To make sure that you are registered please reach out to Amy Dimech or your BDM.

Register now!

Property Taxes in NSW Surge to Over $12B

By Paul Bennion, Managing Director, DEPPRO

The huge amount of money that property owners are now paying in property taxes each year has been highlighted by the 2019/2020 Budget recently handed down by the New South Wales Government.

It shows that during this financial year, the New South Wales Government plans to collect more than $12 billion in property taxes - an increase of nearly $1 billion property taxes compared to the previous financial year.

This is made up of $7.72 billion in stamp duty and $4.60 billion in land tax collections.

Over the next two years these property taxes are expected to further surge to over $13 billion per annum.

Not only are property owners in New South Wales being hit hard by rising property taxes, but property owners throughout Australia are also feeling the pain.

It may surprise you to learn that property owners throughout Australia are paying collectively more than $3 million in property taxes every hour of each day.

According to the latest ABS data, State and local governments collected more than $30 billion in property taxes during the 2017-2018 financial year.

Property taxes have been a major source of growth income for state and local governments with the ABS data showing that these property taxes have increased by $9 billion over the preceding 5 years.

Their heavy reliance on these property taxes is underlined by the fact that local government relies exclusively on property taxes, while state governments draw around 14% of their tax revenues from property.

These figures highlight the need for property owners throughout Australia to fully claim their legitimate tax deductions especially relating to tax deprecation.

Tax depreciation benefits can substantially boost the cash flow of property investors which has been used to pay these property taxes.

For example, the generous tax refunds that can be obtained through undertaking a professional tax depreciation report can amount to thousands of dollars each year and help to offset these annual Government taxes.

DEPPRO has currently a large range of clients who annually receive very large tax refunds each year through claiming their legitimate deprecation tax benefit and use these refunds to help pay Government property taxes.

These generous tax depreciation benefits can equate to up to 60% of the property price of a property. That's means potential tax benefits of $300,000, for example, on a property purchased for $500,000.

Over the coming months, many investors will be looking at buying investment properties to coincide with the start of the new financial year.

If you buy an investment property, it is important to complete a tax depreciation schedule as soon as possible after settlement so that it complies with ATO guidelines.

For the initial cost of a tax depreciation report - which is tax deductible - by legitimately claiming their full depreciation allowances clients can achieve thousands of dollars in tax benefits each year from their investment. Even an older style home can also qualify for substantial tax depreciation benefits if a depreciation schedule is undertaken around the time of settlement.

To protect their interests and ensure the depreciation report is fully compliant with ATO rulings, property investors should select a company, like DEPPRO, that is a member of the Australian Institute of Quantity Surveyors (AIQS) and uses systems that are fully compliant with ATO rulings.

Why Investors with Multiple Properties Are a Rarity

By Paul Bennion, Managing Director, DEPPRO

The latest ABS figures on home ownership rates in Australia highlight that while many Australians own a home, very few go on to buy multiple properties.

Figures contained in the ABS Housing Occupancy and Costs report released in July 2019 show that some 66% of households owned their home with or without a mortgage while only 20% or one in five owned one or more properties.

Of those that owned other residential property, almost three quarters (71%) owned a single property, while one in twenty (5%) owned four or more properties.

These figures suggest that only a tiny minority of Australian ever on go to build a successful property portfolio.

The fact that only a tiny portion of people ever go on to build a successful property portfolio has also been confirmed by Australian Tax Office (ATO) figures.

ATO figures show that 72.8% of individuals who owned an investment property owned just one while 18.9% of individuals owned two. Only 0.9% individuals or less than one in a hundred owned six properties or more.

The ATO figures also reveal that for the more than 1.2 million of these individuals, two out of every three were negatively geared or reported a loss on their income.

Generating strong cash flow is therefore critical in the process of building a successful property portfolio especially if you are just starting off in the property investment market.

The main reason why so many individuals fail to own several properties is that they make mistakes with their very first property purchase. This then prevents them from moving on to buying additional properties.

However, individuals who do make the correct decisions at the start off stage in property investment can go on to amass a highly successful property portfolio which will help fund a comfortable retirement.

This is why is it critical to undertake extensive research before buying your first investment property to avoid simple mistakes that can undermine a long-term strategy of creating wealth through property investment.

Property still remains one of the best ways for mum and dad investors to create wealth and this has been proven over many years with Perth real estate achieving high level of capital growth consistently over several decades.

Many first-time investors never buy more than one investment property because they make simple mistakes which include:

  • Not claiming their full tax entitlements relating to negative gear and tax depreciation. Tax depreciation benefits alone can add up to 60% of the total purchase price of the property over time.
  • Deciding to buy an investment property close to their owner occupier home rather than looking at investment opportunities throughout Australia.
  • Overestimating rental returns and failing to get independent information on potential return returns.
  • Selecting a property based upon advice of friends or family rather than seeking independent information.
  • Buying into an area that is heavily marketed rather than focusing on overlooked suburbs that might present better long-term capital growth - i.e. sleeper suburbs.
  • Not undertaking a full assessment of the true cost of buying and holding the property. For example, if the property an apartment, there are additional cost issues compared to buying a standalone house such as strata fees.
  • Selecting the wrong home loan i.e. principal and interest rather than interest only which will help increase cash flow.
  • Buying a property in a location which is not attractive to tenants i.e. not close to amenities such as shops or transport.
  • Purchasing a property in an area where there is an oversupply of properties meaning rents will be low and capital growth rates limited.
  • Trying to select the tenant themselves rather than using the services of a number of reliable property management companies.