No.

I'm saying that if your new job is in the same industry as your old job than its still possible to get a loan – even after only being in the new job for a very short period.

It all depends on the loan to value ration as well – if there's no mortgage insurance involved, than it will make things a little easier. If there is mortgage insurance involved, it's still doable.

Cheers

Jamie

Generally speaking, if you're next job is in a similar role and the LVR isn't ridiculously high than all should be fine on that front. As I mentioned though, there's so many other variables at play when applying for a home loan – employment history is just one so it's hard to give a definitive answer.

Cheers

Jamie

Good old bank logic

Cheers

Jamie

If cashflow is an issue you could look into the ATO PAYG variation form which will allow you to pay less tax each pay rather than make a large claim at EOFY.

Cheers

Jamie

Richard's your man – he'll sort it out for you.

Cheers

Jamie

Hi Tesst

Welcome aboard.

Your current lender will probably try and use your entire owner occupied property as collateral for your investment property. This is what we call cross collaterisation.

To avoid this, you should be able to set-up a second loan against your owner ocuppied property which will act as the 20% deposit and costs on your investment property, you would then arrange for a separate 80% loan to be set-up to cover the remaining portion. In this scenario, you have three loans set-up but the properties remain uncross collaterised.

Since you've got an owner occupied debt, it would be ideal to set up your investment loans (the equity release and subsequent 80% loan) as interest only.

James from House of Wealth is a good accountant in Melbourne.

Cheers

Jamie

Hi Jenny

There’s a tonne of info on studio apartments on this forum – do a quick search and you’ll be able to read up about the pros and cons (there’s much more of the latter).

Cheers

Jamie

Hi Max

Welcome to the forum.

You can access equity in your IP which will be used as the deposit/costs on your next owner occupied purchase.

The only issue is that these funds won't be deductible. You'll still retain the deductibility on the current $280k loan but won't be able to deduct any of the equity release because it's being used for an owner occupied purchase.

In hindsight, you should have placed the money into an offset account instead. That would have achieved the same result but would have been much more beneficial from a tax perspective. Here's a blog entry that explains the concept.

If you do decide to keep your current IP – you'd be best of converting the loan to interest only now and stop paying off any more fo the principle.

Hope that helps.

Cheers

Jamie

I'm biased – I do a fair bit of writing for API so they get my vote.

I also think there's more content rather than advertising in comparison to some of the others – particuarly YIP. I could be wrong but that's my general perception.

I like the API databank as well – very handy.

Cheers

Jamie

BA's can be a good option – I cross paths with them quite a bit due to having mutual clients and some of the deals they can source look pretty good.

Choose carefully though – like any profession, the quality will vary.

You also need to make sure that they're truely independent and not spruiking off the plan stock in over priced high rise developments in QLD (a generalisation but I think you'll get the point).

Where are you looking to buy?

Cheers

Jamie