BUYER AFFORDABILITY
Buyer Affordability
Whats New:
This is La Grande's New Web Site.
February 2011
Please feel free to give your comments on La Grande's new website, by clicking on Contact Us in the Main Menu.
Current News
Interest rate Cut
November 2010
On 18 November 2010 The Reserve Bank has anounced that the repo rate is reduced by 50 basis points. This means that the banks will reduce their prime lending rate down to 9%.
Recent Events
No Transfer Duty or Capital Gain Tax?
February 2011
For those of you who have their primary residence registered in a CC., Trust or Company, now have the opportunity to transfer the property into your own name, with out paying transfer duty or capital gain tax. Before you take any action, consult with your finacial advisor to establish whether this will be to your advantage. Then consult with your transferring attorney to establish whether you will qualify not to pay transfer duty and capital gain tax. Then establish with your bank wheteher you will qualify for the outstanding bond amount. You have to take action before the end of 2011.
BOND REPAYMENT CALCULATORS
• Banks will calculate your maksimum bond repayments based on 30% of both your and your partner's gross income.
• The interest rate will be based on your existing credit risk profile.
• Your present debt and the way you are servicing these debts also do play a role as to whether the bank will grant you a bond.
• To calculate the maximum bond you may qualify for, click on Maximum Bond.
• To calculate the minimum income required to qualify for a bond, click on Income Required.
• To calculate the transfer fees and costs (i.e. Transfer Duty Fees, Attorney Fees etc.) click here.
MAXIMUM BOND
- Calculate the maximum bond you qualify for
Tip for Buyers
Tip
Make sure that you have a back up plan in place, for in the event that you may loose your present income source.
