Course GOM silly me.

ImulgiPrecisely the reason why i asked the question.Seems to me like the office plants dont really understand how – gearing works.

I requested the info pack be sent to me over a week ago and as yet hasnt arrived.Maybe it takes 7 days in the mail to travel the 9 KM's from the City to where i am in the Western Suburbs.

JoanneWondered if Better Choice are related in anyway to Premier Finance ?

Hi JoanneSorry can you tell me how when the property is costing you a $130  / week you are intending to use it as a tool to pay off your mortgage.Call me slightly suspicious but are we getting an steady increase of these types of posts.Perhaps the high pressure property investment sales to unsuspecting buyers is a drying up market…… one can…[Read more]

Lol Terry.Love your optimism.

Hi PeterUnless it is by way of a personal loan and then you have a limit of around $20K unsecured you wont find any lender touch it.Problem they have is there is no security as you do not have Title to the property.

Hi PeterHate to say if you have no other security with great difficulty.Lender would have no security so is not going to be encouraged to lend unsecured.Line of credit against other property is about your limit.

Hi  KuadeFirstly from what you have set out a clear case of the securities being cross collateralised and not an ideal situation (for you anyway it is just what Suncorp will want to see) in going forward.Secondly remember that using a redraw is not an ideal tool and you would be better off to have a totally separate loan which you use as…[Read more]

So if i buy my own house straight up with a IO loan, say in 1 years time i can then leave the house and turn it into a investment property while still taking full advantage of the tax benifits? including keeping the no stamp duty etc…YES

Just coming in late to the post but cant let advice like this go by unchallenged.If the 1st place you buy is an IP you will loose FHOG and SD benefits for any purchase of a PPOR later on.This is totally incorrect. If you purchase an IP and have not previously purchased a PPOR then you will still be able to claim the FHOG when you do purchase a…[Read more]

AHAs i say i dont want to be the bearer of the bad news.Shoot me an email with a spreadsheet of what you have basically a slightly more indepth version of what you have given here and i can come back to you with some suggestions. 

imuli, Yes you always link the offset account to the non deductible debt.Only if you have no NDD would i link an offset account to an investment loan.

KylaYes that is correct if you have never purchased a PPOR before and dont reside in the IP you are certainly entitled to the Grant.Wont get any State Stamp Duty concessions but will get $7K or so to kick around.

Hi AimAgain hate to keep the bad news coming.Mac Bank have pulled up stumps in the lending market so wont be open to another IP.This sort of situation is exactly one of the many issues with X collateralising the loans together.I am suprised the Mac Bank deal was ever cheaper than what you could negotiate with Anz and at least there you could split…[Read more]

Hi VincentSorry to say if i understand your thread that your understanding is incorrect.

Hi Stay CFirstly welcome to the forum and i hope you enjoy your time with us.Whoever has given you the information above has unfortunately misled you and as suggested will not achieve want you require.If you redraw the funds on your current PPOR to fund the next property the interest will not be tax deductible.In saying this there are a couple of…[Read more]

Sorry to be the bearer of bad news but i think you may have an issue and probably need some rehashing of your structures.Great in theory Refinance property B once it's become your PPoR and use the cash to pay Property A off completely, therefore making it for investment purposes and tax deductible. but it will not be acceptable to the…[Read more]

AHI hate to say it sounds like the loans maybe Cross collateralised (one of my pet hates) and not structured correctly from day 1.I am sure it was a typing error on imulgi's part but the 100% offset account should be linked to the PPOR loan and not the IP loan. DO NOT dump the cash into your PPOR !!!The loan on the IP should be standalone but f…[Read more]

For what you want to achieve the property should have been purchased as Tenants in Common and the additional funds should be placed in a high interest bearing account.