PropertyInvesting.com | danandel | Activity https://www.propertyinvesting.com/members/danandel/activity/ Activity feed for danandel. Wed, 08 Apr 2026 16:38:34 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 769bcb97419f106a8b4db381fb9f16bb danandel replied to the topic Extra repayments or offset facility? in the forum Finance https://www.propertyinvesting.com/topic/4407190-extra-repayments-or-offset-facility/#post-4674182 Sun, 22 Jul 2012 10:01:15 +0000 Thanks Richard & Terry, that’s great advice.
So, this may be a really silly question, but what would really be the difference between the setup you suggested Terry, and the way they are planning to set it up? As it is still a split loan, with the offset facility being on the main residence property, and IO on the investment/LOC portion? And the…[Read more]

]]> 20172df861d27600cd6a5903ed1a702d danandel replied to the topic Extra repayments or offset facility? in the forum Finance https://www.propertyinvesting.com/topic/4407190-extra-repayments-or-offset-facility/#post-4674181 Sun, 22 Jul 2012 09:56:20 +0000 Yes, I suppose that is exactly what they’re proposing, as we haven’t bought or even found an investment property yet.

Terryw wrote:
So are they proposing you buy the investment property solely with the LOC and that it wouldn't be used as security?

]]> 910a198c0550150ebd08ac14aac361e5 danandel replied to the topic Extra repayments or offset facility? in the forum Finance https://www.propertyinvesting.com/topic/4407190-extra-repayments-or-offset-facility/#post-4674177 Sun, 22 Jul 2012 03:33:47 +0000 The way State Custodians are going to set it up is a two way split, 1 for the current mortgage with 100% offset account, and 1 Line of Credit for the investment property. If we were to setup a new loan when the investment property comes along, we would incur all the application fees etc. again, which is why they recommended setting this up…[Read more]

]]> a64c8e6d7a8ed1f111e84dabba495da4 danandel replied to the topic Extra repayments or offset facility? in the forum Finance https://www.propertyinvesting.com/topic/4407190-extra-repayments-or-offset-facility/#post-4674175 Sun, 22 Jul 2012 02:45:33 +0000 Thanks Terryw,
We run an online nursery business from home.
We have about $125000 left on the current loan, with property being worth around $400000.
At the moment we have everything going into a goal saver account at 5% interest, and make some extra repayments into the loan aswell, every week. We could put everything into the loan, but there is a…[Read more]

]]> d93449b9004d47f0df0bc55d5ca8f090 danandel replied to the topic Extra repayments or offset facility? in the forum Finance https://www.propertyinvesting.com/topic/4407190-extra-repayments-or-offset-facility/#post-4674174 Sun, 22 Jul 2012 02:40:50 +0000 And is it worth switching to State Custodians, or better to stay put with CBA?

]]> 4bd85844adaaa456e9f379865ad44f68 danandel replied to the topic Extra repayments or offset facility? in the forum Finance https://www.propertyinvesting.com/topic/4407190-extra-repayments-or-offset-facility/#post-4674172 Sun, 22 Jul 2012 02:30:13 +0000 I forgot to ask;Would it be worth switching from the 6.29% economiser loan to the 6.8% standard variable loan just to get the offset facility? 

]]> 17bf9de7fd550d76f5728cfa0797eeae danandel replied to the topic Extra repayments or offset facility? in the forum Finance https://www.propertyinvesting.com/topic/4407190-extra-repayments-or-offset-facility/#post-4674171 Sun, 22 Jul 2012 02:23:39 +0000 Thanks so much Terry,There's a lot of info there we need to look at. We were recommended by our account to keep the business as sole trader in my husbands name, possibly pay me a wage if that suits tax. How could we not have it in our own name?We wanted to have the business income go into the offset as this will be our main income over summer and…[Read more]

]]> e61804ab907fd97b7318ff81f091ac74 danandel replied to the topic Extra repayments or offset facility? in the forum Finance https://www.propertyinvesting.com/topic/4407190-extra-repayments-or-offset-facility/#post-4674170 Sun, 22 Jul 2012 02:17:20 +0000 Thanks Jamie!I'm going to get my husband to have a look at this info to see what he thinks – looks like we need to do some reshuffling! As the current mortgage left is very small we don't qualify for CBA's wealth package, but if we were to go for an IP we definately would. Cheers, Elle

Jamie M wrote:
Hi Elle Without knowing too much of your…[Read more]

]]> 8e2c9827b88ca50c409e0bdd4e1b62e8 danandel replied to the topic Extra repayments or offset facility? in the forum Finance https://www.propertyinvesting.com/topic/4407190-extra-repayments-or-offset-facility/#post-4674169 Sun, 22 Jul 2012 02:11:32 +0000 Thanks Tom,We don't qualify for their wealth package unfortunately as we have only $125000 left on the current mortgage. Their wealth package starts at $150000, and they told me it wouldn't be worth it anyway for loans under $150000. If we were to get additional funds through them for an IP than it's definately something to look at. The tax…[Read more]

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