Total Members: 158,085

Chickenhawk6451

  • Chickenhawk6451 replied to the topic No deposit, no hope?? in the forum Help Needed! 10 years, 2 months ago

    Qlds007 wrote:
    Option 3 Take out a 105% standalone loan with a 15% personal loan and 90% traditional loan.

    Thanks for the help so far everyone, I'm keeping all options open. Wouldn't the above option not be possible because when you apply for a home loan you need to declare all debts? So if you can't use a loan to fund another loan? I thought…[Read more]

  • Chickenhawk6451 replied to the topic No deposit, no hope?? in the forum Help Needed! 10 years, 2 months ago

    Benny wrote:
    Since you have started saving a Deposit, keep on going.  Is it in an Offset account?  (I hope so).   If not, that one little change could make a big difference within 12 months.

    I note that you are paying 6.65% – is that a rather high IO?  Or are you paying P&I?  If the latter, look at changing to IO and save the Principal…[Read more]

  • Chickenhawk6451 replied to the topic First home loan structure; plan to invest in future in the forum Help Needed! 11 years, 3 months ago

    Hi Jamie,

    Thanks for your reply. :-)

    Just a quick question with your plan though; When I move to my next residence would I then be able to claim the interest as a tax deduction or would I have to re-finance the loan? As I understand the deduction is based on the purpose of the loan, not the security so if the original purpose is a "place of…[Read more]

Chickenhawk6451

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