thanks paul,i have a deposit available to use, im just trying to get my head around how it all works. if i have any luck il be in touch.thanks againnatalie

thanks so much luke and paul for your responses. yes i guess i need to establish that first. the property is currently managed through a property manager – is it wrong / rude to bypass him and deal with the owners direcly though ?? their contact details are not on any of the lease forms i have. would the local council be able to provide these…[Read more]

thanks so much for the clarification guys!!! much appreciated!!

so is it just the portion i use that wont be tax deductible or the whole loan ???i dont expect to claim the interest on the part i use for personal use, i just want to be able to access funds without having to have to sell my original PPOR .is that were the split loan thing comes in handy ? so it keeps the loans separate so i (and my accountant)…[Read more]

hi dan thanks for the reply.  so even if the money has been sitting there in offset for a considerable period of time (months) i still cant use it for private use ?? The original purpose of the refinance was to get access to our equity in case we ever needed emergency money or for if we were to buy another investment property.  is there any o…[Read more]

thanks JT7 – i forgot to mention the 6 year thing!!

hi wattoette,  i read that same article, and i think it WAS about her now choosing to rent where she lives as apposed to having a massive mortgage herself.  that way, she has a larger amount of money available to fund other investment properties. – a common strategy used by some if they are happy renting themselves.for your other question – do y…[Read more]

thanks so much dan42!!!just the answer i was after. much appreciated!!!!

wow! glad im in vic!!!! good job on the negotiations then!!! good luck

12% agents fee !!!!!!! wow what state are you in ?? that seems really steep to me. ours charges 6% (melbourne SE suburbs) I would be trying to negotiage a better deal!! otherwise goodluck with everything and well done for taking the first step with your first IP!!!

thanks so much guys. currently with st.george. Annual package fee of $395 with offset and credit card facility included

so let me get this straight – (sorry im still new to this!)if loan is i/o my repayments would stay the same ($1840/month) but the amount of interest charged monthly would slowly decrease over time and with the more i had in my offset account. yeah? so although not paying the loan 'off' , my equity in the place would still increase provided market…[Read more]

thanks v8ghia, loan does already have an offset account but accountant thinks i should drop it ( they say that in reducing the amount of interest we get charged monthly it reduces our tax deductible expenses) i read that as we would expect a bigger tax return if we dropped the offset, but not sure i agree with this move. we are not in it for the…[Read more]