Thank you Mike, Very useful reports. and you are a good man.Appreciate it.I'll keep in mind your service for future financing need.

Thanks Michael and Terryw, I’ll try to ask and see if there is any way I can escape.

I further query the loan provider, they have additional Mortgage Insurance policy adjustment fee $670 for the top-up on top of that $1300, even thou in the end the total amount of the loan (existing+top-up) is not over 80% of the valuation.I did pay my LMI when I took the original loan, but my logic says when the loan is less than 80% of the…[Read more]

Thanks Richard  for your recommendation. I'll keep this contact detail and give them a call when I'm ready.Thanks a lot to you too Michael, you've been very helpful, surely there are a lot of thing I need to learn. And yes I'm going to start by reading Scott's book.I don't actually use excel extensively, but I think I can and should be able to…[Read more]

Thanks Terryw for your reply. You're absolutely right, that things may changed in the future, and what ever I decided may not be suitable for the long run. I never heard about discretionary trust, what is this and how does this actually works ?.Just out of curiosity, out of this two scenario which one is better, more tax deduction with higher CGT…[Read more]

Thanks Richard, I am based in Melbourne.

Thanks Michael and Richard, surely your discussion are very informative and have benefited me.I'll have to re-read them again and again tho, to digest them completely, as I'm not very familiar with a lot of the terms.Just to clarify my understanding about my offset account. To me I don't actually earn interest from my money/funds in my offset…[Read more]

Thanks Michael for your suggestion, that's very helpful for me.Now I have a checklist in my hand to watch for.I'm using http://www.ratebusters.com.au/ my rates was a bit better compared to what they have now.I think they are a brokerage firm, but they don't reveal who is the real lender to me.I paid over $2K for establishment fees , but with the…[Read more]

Terryw wrote:
Even better, move in for 6 months initially, and then out again and have the ability to claim CGT exemption on the place as well.

Hi all, I'm learning here as well, can we still have the tax benefit with this method ? Thanks.

Thanks Richard and Michael for your reply,Richard, I may be one of those people who are rate driven and didn't see what the future like, I think this is because my lack of knowledge and understanding and also this was my first loan. However, I'm learning now.What are those other information would be ? thanks.Michael, I think my loan is quite basic…[Read more]

I've spoken to the lender. they said they can do it for $1300From what I can think of is I have two options now for this equity access without selling the PPOR.And I also have a couple of question in regards to both.1.Pay $1300 to the lender and get 80K if I borrow 80% and no LMI paid or pay LMI and borrow up to 90% or over.   I actually paid L…[Read more]

Thanks Matt, Michael and Terryw, for the explanation, now I understand a little bit more about my situation.I'll talk again to the lender and also look around for some other option to get away from this lender.Hopefully, I found something attractive out there, may talk to some broker as well.I read someone using LOC in this forum, what is this LOC…[Read more]

I am interested to know about this too, does it help if the first home title is fully under my name?.Thanks.