PropertyInvesting.com | s0805 | Activity https://www.propertyinvesting.com/members/s0805/activity/ Activity feed for s0805. Tue, 14 Apr 2026 19:22:44 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 238e082b85683fe95de9e92d9cb580c8 s0805 replied to the topic LIFE INSURANCE AND INCOME PROTECTION !! in the forum Help Needed! https://www.propertyinvesting.com/topic/4409095-life-insurance-and-income-protection/#post-4689225 Fri, 24 Jan 2014 05:16:03 +0000 TheNewGuy wrote:
I just renewed all of my insurances. I have Income Protection for 3 months to death, at 80% of my salary. 3 months to 24 months is in my super, and 24 months+ is via Macquarie Insurance.

For permanent injury / death, I have $750k lump sum, and a pension paid to my wife ~ $15k p.a + CPI for the rest of her life.

I have ~ $800k…[Read more]

]]> dc67924932458af9a82917aeb094b7ee s0805 replied to the topic The best way to release equity....for IP2 in the forum Finance https://www.propertyinvesting.com/topic/4410481-the-best-way-to-release-equity-for-ip2/page/2/#post-4697897 Sun, 05 Jan 2014 04:29:10 +0000 PLC wrote:

Richard, is it still a maximum of 5 loan splits? I seem to recollect that ANZ changed to unlimited loan accounts under the one breakfree package recently?

That's even better….but still if they allow to topup the existing loan account to release PPOR equity would be better  rather than new loan account….Is it possible?

]]> 2140c14a3ef0299641e14cbd04ec80f9 s0805 replied to the topic The best way to release equity....for IP2 in the forum Finance https://www.propertyinvesting.com/topic/4410481-the-best-way-to-release-equity-for-ip2/page/2/#post-4697894 Sat, 04 Jan 2014 02:03:08 +0000 Seems like it is matter of who you know in ANZ for loan drawdow, when i asked my MB before taking on loan, he said it's impossible….

Terryw wrote:
Also, once you get the money into the loan then how do you use it.

Terry, that is something I am keen to hear from Richard as he had several clients done this….hence my question about how to…[Read more]

]]> d33ab7ba40eff9b3f57c5178d24d833f s0805 replied to the topic The best way to release equity....for IP2 in the forum Finance https://www.propertyinvesting.com/topic/4410481-the-best-way-to-release-equity-for-ip2/#post-4697886 Thu, 02 Jan 2014 09:56:18 +0000 Terryw wrote:
[
No, it is possible to do all without crossing at any stage. But in the early days cash is tight and equity is tighter, so clients often try to access equity and take out little bits at a time. After a while growth kicks in and you might take one property up to 80% and by the time you use that LOC then the next property has…[Read more]

]]> cd4400ade634eb4f36779b9c23087747 s0805 replied to the topic The best way to release equity....for IP2 in the forum Finance https://www.propertyinvesting.com/topic/4410481-the-best-way-to-release-equity-for-ip2/#post-4697885 Thu, 02 Jan 2014 09:44:12 +0000 TheFinanceShop wrote:
Some lenders like Suncorp, St George and Macquarie allows you to easy create sub accounts. 

If we are talking about a loan amount of $595k  then Westpac will do 4.97% (plus $1,000 cashback), CBA will do 4.95%, Homeside (NAB) will do 4.94%. 

Second tiers lenders will even go lower but again don't focus on rate – focus on…[Read more]

]]> 507547717305169187e5de65020e539e s0805 replied to the topic The best way to release equity....for IP2 in the forum Finance https://www.propertyinvesting.com/topic/4410481-the-best-way-to-release-equity-for-ip2/#post-4697883 Thu, 02 Jan 2014 09:36:47 +0000 Terryw wrote:
You could have one big LOC but, this would mean it is secured by each property which is cross collateralising.

These sorts of issues arise in the early days when the investors are trying to get access to equity quickly, but after a while things will slow down as more property is purchased and harvesting equity slows down a…[Read more]

]]> e417eee65f73d235b3f8b6ed070ae4a1 s0805 replied to the topic The best way to release equity....for IP2 in the forum Finance https://www.propertyinvesting.com/topic/4410481-the-best-way-to-release-equity-for-ip2/#post-4697880 Thu, 02 Jan 2014 09:08:28 +0000 Terryw wrote:

It will be a small amount and not of any significance. The LOC can be rolled over into a normal IO loan once drawn too.

Terry, is it possible to have one LOC where all the equity from PPOR, IP1, IP2…….IP6 and so on can be released as required….If that is the case then i can convert LOC to IO once it is used and repeat the…[Read more]

]]> c828d989ca3ff207820010082f14d0f5 s0805 replied to the topic The best way to release equity....for IP2 in the forum Finance https://www.propertyinvesting.com/topic/4410481-the-best-way-to-release-equity-for-ip2/#post-4697877 Thu, 02 Jan 2014 08:43:39 +0000 Terry, I want to avoid LOC if possible, i understand that it gives much more flexibility from the top off point of view….but it comes with higher interest rate……

Shahin….I've been  with ANZ from ages….and their breakfree package (similar to all Big 4 offers) suits me…..and i did not pay LMI on PPOR or PI1……they have discounted…[Read more]

]]> 00c24864e1c7f3afe7c53704488ac1eb s0805 replied to the topic The best way to release equity....for IP2 in the forum Finance https://www.propertyinvesting.com/topic/4410481-the-best-way-to-release-equity-for-ip2/#post-4697873 Thu, 02 Jan 2014 08:02:36 +0000 TheFinanceShop wrote:
I would generally go for an standard product with a linked offset and I would do this for each loan account or do it as a redraw as some lenders like 

Shahin,  valuation is on to do list……but i m sure that I'll have to go up to 90% this time……standard product with offset is my preferred method as well…..similar…[Read more]

]]> 5ea0ca1de20d02528ed8c8e9ed343041 s0805 replied to the topic The best way to release equity....for IP2 in the forum Finance https://www.propertyinvesting.com/topic/4410481-the-best-way-to-release-equity-for-ip2/#post-4697872 Thu, 02 Jan 2014 07:52:52 +0000 Terryw wrote:
LMI wouldn't be deductible in full because part of it would relate to the existing properties. Probably base it on a % of the total amount borrowed.

Terry, I am borrowing upto 90% off existing properties (1 PPOR & 1 IP) to fund my second IP….which is for investment purposes. In that case shouldn't LMI on both PPOR and IP1 be…[Read more]

]]> 2421a014e382f0b3fb59e9cc46c0afc9 s0805 replied to the topic Top Suburbs for property investing in Brisbane in the forum Help Needed! https://www.propertyinvesting.com/topic/4410435-top-suburbs-for-property-investing-in-brisbane/#post-4697482 Thu, 02 Jan 2014 04:35:37 +0000 Benny wrote:
Still applicable but to a lesser degree in Brisbane – it is about 25Km to the Coast when heading East.

Benny

Benny, what is the preferred side in Brisbane?

]]> 44a59c8ea63a2998b328d07e58fc7586 s0805 replied to the topic Top Suburbs for property investing in Brisbane in the forum Help Needed! https://www.propertyinvesting.com/topic/4410435-top-suburbs-for-property-investing-in-brisbane/#post-4697480 Tue, 31 Dec 2013 03:18:16 +0000 Qlds007 wrote:
Agree with Benny we are starting to get a mountain of forum clients ask us to source investment property for them in Brisbane and the requirements of each investor is totally different when it comes to price, market demographics, unit or house, etc etc.

I certainly know where i am putting my money in Brisbane but that is not to…[Read more]

]]> 450b21f1d9bd76c6c686cea4befdc1c5 s0805 replied to the topic Buyer's Agent in the forum Help Needed! https://www.propertyinvesting.com/topic/4410254-buyers-agent-20/#post-4696208 Tue, 26 Nov 2013 03:17:50 +0000 thanks Mark. Excellent Advise…..

]]> 2cfeecd76c9b7ff84e1fb853fd6e95e5 s0805 replied to the topic Documents post settlement in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4409629-documents-post-settlement/#post-4692861 Tue, 16 Jul 2013 07:05:20 +0000 wilko1 wrote:
yes your bank will be on your certificate of title. it will be under a heading called Mortgagee. Basically to prevent you from selling the property without the banks authority or finding out.[/quote

wilko, so do i require any of these docs….currently i don't have anything like 'certificate of title' 'land transfer' or…[Read more]

]]> a2b2b341378054226d418bebb105e66a s0805 replied to the topic Documents post settlement in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4409629-documents-post-settlement/#post-4692859 Tue, 16 Jul 2013 06:51:02 +0000 just wondering if these documents are required….I've filled out the 'Transfer of Land' document during the settlement but not received anything about it and my conveyancer advised that bank's name will appear on 'Certificate of Title' until i finish paying off the mortgage…..am i missing something here….all i've is 'Contract of…[Read more]

]]> f27a4fedc4b57c97f2c92c0c5dc48faf s0805 replied to the topic Professional package fees deductible? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4409675-professional-package-fees-deductible/#post-4693096 Tue, 09 Jul 2013 09:24:44 +0000 Thanks Jamie…

]]> 14c7a8e66cd54acd5f15946e1bb47277 s0805 replied to the topic checking if bank charges the interest correctly? in the forum Finance https://www.propertyinvesting.com/topic/4409273-checking-if-bank-charges-the-interest-correctly/#post-4690322 Sat, 29 Jun 2013 06:13:42 +0000 i calculate the interest charged every month with simple excel spreadsheets….and glad that no issues so far….regardless i found that as very exercise..

]]> a3bae7ca98ab902bfba0cdefb0211c07 s0805 replied to the topic Interest Only Term only up to 10 years? Can't renew after 10 years. in the forum Finance https://www.propertyinvesting.com/topic/4409470-interest-only-term-only-up-to-10-years-cant-renew-after-10-years/#post-4691811 Thu, 06 Jun 2013 09:23:36 +0000 adam.p wrote:

Jamie M wrote:

s0805 wrote:

Jamie M wrote:

adam.p wrote:
Thanks Jamie. That's what I had in mind.
ANZ are a bit funny – they see changes such as reverting from P&I to IO as "credit critical" so ask for  a new application to be submitted. There's been moves to change this – and I've been told that these sort of adjustments…[Read more]

]]> a06a6e83d7c4c2b864be5d54d382f3f5 s0805 replied to the topic Interest Only Term only up to 10 years? Can't renew after 10 years. in the forum Finance https://www.propertyinvesting.com/topic/4409470-interest-only-term-only-up-to-10-years-cant-renew-after-10-years/#post-4691807 Tue, 04 Jun 2013 02:12:17 +0000 Jamie M wrote:

adam.p wrote:
Thanks Jamie. That's what I had in mind.
ANZ are a bit funny – they see changes such as reverting from P&I to IO as "credit critical" so ask for  a new application to be submitted. There's been moves to change this – and I've been told that these sort of adjustments can be made in branch now, but I'm still…[Read more]

]]> e70da4b71d1ba40064b01077a3179272 s0805 replied to the topic Making my PPOR my investment property and my investment property my PPOR- tax & structuring in the forum Finance https://www.propertyinvesting.com/topic/4409392-making-my-ppor-my-investment-property-and-my-investment-property-my-ppor-tax-structuring/#post-4690980 Fri, 24 May 2013 07:41:09 +0000 Terryw wrote:
In vic it is possible for one spouse to sell to the other at full market value. So the other spouse could borrow to buy half the property. This would release cash which could be used to pay for the new PPOR.

Hi Terry,

In VIC, does it only applied if both spouses name are on title initially, how about if only one spouse name on…[Read more]

]]> 19771c5998830ccf96ad1be765636046 s0805 replied to the topic Government search fees by ANZ in the forum Finance https://www.propertyinvesting.com/topic/4409324-government-search-fees-by-anz/#post-4690584 Sat, 11 May 2013 13:35:08 +0000 Terryw wrote:
No you have a right to ask. I was just curious because you said you couldn't afford it!

Sure, I prefer to avoid it if i can…

]]> 4faf57f9fad61e4c69b60a2539e50a82 s0805 replied to the topic Government search fees by ANZ in the forum Finance https://www.propertyinvesting.com/topic/4409324-government-search-fees-by-anz/#post-4690582 Sat, 11 May 2013 13:02:15 +0000 Terryw wrote:
 Are you saying you cannot afford $15.80?

Terry, it's not the question about affording or not……i can afford 5K doesn't mean i pay that cheeky

it's about the logic behind fees getting charged for the same loan, balance, same security….if in the past same process was handled within branch by same lender without full application…[Read more]

]]> 07e845f9a4f96f6bb5d4f068c04b747a s0805 replied to the topic Government search fees by ANZ in the forum Finance https://www.propertyinvesting.com/topic/4409324-government-search-fees-by-anz/#post-4690580 Sat, 11 May 2013 07:40:45 +0000 Thanks Tom….

I am just surprised that by changing the P&I to IO with the same loan balance could trigger this Title search fees ( curious to know the logical reason for it……)can't avoid this fees anyway

Regarding Loan amount, it is not the accrued interest either, my loan balance is 219xxx.xx, but the loan docs says 220K (seems like…[Read more]

]]> 08714fda06913e25938be38607736788 s0805 replied to the topic Government search fees by ANZ in the forum Finance https://www.propertyinvesting.com/topic/4409324-government-search-fees-by-anz/#post-4690578 Fri, 10 May 2013 04:09:25 +0000 thanks Jamie…..

]]> 9e137ffe77d8a778a338ed4fa8746c42 s0805 replied to the topic Anyone use Terri Scheer Insurance? in the forum Help Needed! https://www.propertyinvesting.com/topic/4391896-anyone-use-terri-scheer-insurance/#post-4580410 Fri, 10 May 2013 01:41:09 +0000 virgininvestor wrote:
Hi,

Thanks guys for the feedback thus far,

Its a unit so only needed contents and rent cover

I got quotes from AAMI and RACV and from a few brokers eg. emi? and terri scheer

The ones from the brokers were all around $255 and the ones from AAMI and such were a little higher $ apox 300

The brokers had contents for 45-50K…[Read more]

]]> e42a5c1368c989be6a4ac915b609757c s0805 replied to the topic Government search fees by ANZ in the forum Finance https://www.propertyinvesting.com/topic/4409324-government-search-fees-by-anz/#post-4690576 Thu, 09 May 2013 23:19:21 +0000 Hi Jamie,

Yep, I am not changing my loan amount….but should i be worried that on loan docs the amount it stats is different than my actual current balance….I had asked my broker but he said that's fine…I am not sure on this as well cause I am signing on this legal paper accepting the new loan amount…..

what about fees is it normal on…[Read more]

]]> 54cde7ef10a4481c053a69a741ef4077 s0805 replied to the topic Investing with Folio Invest? in the forum Help Needed! https://www.propertyinvesting.com/topic/4409308-investing-with-folio-invest/#post-4690474 Wed, 08 May 2013 03:55:44 +0000 Hello Barney,

Pls note that I do not have any exp with Folio Invest, but can advise that when i was thinking about PI in early stage, I came across Folio Invest and got interested in their offerings.

I had consultation with them over the phone and decided against it  (after 2 weeks on thinking and lots of reading from this forum) my reasons were…[Read more]

]]> fc53e99986a0cb6956eb6ccb8e158bbf s0805 replied to the topic Should i use the offset account? in the forum Finance https://www.propertyinvesting.com/topic/4409168-should-i-use-the-offset-account/page/2/#post-4689710 Mon, 06 May 2013 22:50:14 +0000 god_of_money wrote:
CBA will come into full functional "offset"  account in August.. 

CBA is the leading lender in Australia… not sure why so many people choose CBA?

I am with ANZ Breakfree.. and they charge me A$ 10/month for > 1 offset account

god_of_ money,  can you pls confirm if ANZ is charging this 10/month for > 1 offset…[Read more]

]]> 63804d06781c11707ec66a9d08f3f2cd s0805 replied to the topic checking if bank charges the interest correctly? in the forum Finance https://www.propertyinvesting.com/topic/4409273-checking-if-bank-charges-the-interest-correctly/#post-4690314 Sun, 05 May 2013 05:50:34 +0000 Hi Catts,

I checked this every month for all of my loans…..happy to say that never found any mistakes…..but i prefer to do it regardless…..

It also gives me understanding how much offset is saving me on interest for particular month……and how long will it take based on offset savings to pay off the loan etc….

Cheers

]]> 35e5e3f1414a689b67923d9e0c6b1460 s0805 replied to the topic checking if bank charges the interest correctly? in the forum Finance https://www.propertyinvesting.com/topic/4409273-checking-if-bank-charges-the-interest-correctly/#post-4690310 Fri, 03 May 2013 03:18:30 +0000 Hi,

I am not sure if Jamie is referring to these links, but checkout the below link….

1) http://www.interestguardian.com/ ( I think this is free)
2) http://www.interestguardian.com/ (this needs software)

I normally do the calculation every month, but i prefer to do it my excel spreadsheet.

cheers

]]> b2278df8f0858fe76217e9937d331136 s0805 replied to the topic Loan Comparison in the forum Finance https://www.propertyinvesting.com/topic/4409065-loan-comparison/page/2/#post-4689039 Sun, 28 Apr 2013 08:17:55 +0000 Hi Jamie,

You views on below pls….

Quote:

That's a decent rate anyway – I wouldn't worry too much. It's hard to get a 1% discount with them these days. Not like 18 months ago when it was the norm.

Cheers

Jamie

I agree with Jamie (1% disc through breakfree package) is very good rate. I am also with their breakfree package but not…[Read more]

]]> ebd84c110e2044ed7ddec233fff0b8c8 s0805 replied to the topic Loan Comparison in the forum Finance https://www.propertyinvesting.com/topic/4409065-loan-comparison/page/2/#post-4689030 Wed, 17 Apr 2013 10:31:59 +0000 Jamie M wrote:

god_of_money wrote:
I tried to do "price match" recently with ANZ Mortgage retention team. They are aware of bluffing tactics  (ie. asking payout figure).
My current rate is 5.4 % (1% disc through breakfree package). They declined to drop it further.

That's a decent rate anyway – I wouldn't worry too much. It's hard to get…[Read more]

]]> 133f21f759253b2ea73839731e2406b3 s0805 replied to the topic My little girl :-) in the forum Forum Frolic https://www.propertyinvesting.com/topic/4409163-my-little-girl/#post-4689654 Sat, 13 Apr 2013 08:32:22 +0000 Congratulations Jamie & Family……..enjoy your most precious time….

]]> e6cb9212e97db11eb638897fe06a9805 s0805 replied to the topic 4.99% variable rate with offset!! in the forum Finance https://www.propertyinvesting.com/topic/4409133-4-99-variable-rate-with-offset/#post-4689410 Mon, 08 Apr 2013 01:54:23 +0000 Terryw wrote:
To keep it simple, so you had a $100,000 loan for an investment property. You thought you would save interest by parking your $20,000 savings in the offset/redraw. 1. If it is an offset You pay interest on $80,000. This is fully deductible You later take out $20k to use as deposit on the new PPOR you will buy. Interest on the loan…[Read more]

]]> 7c68fd9ad32b85712701f96580221710 s0805 replied to the topic 4.99% variable rate with offset!! in the forum Finance https://www.propertyinvesting.com/topic/4409133-4-99-variable-rate-with-offset/#post-4689408 Mon, 08 Apr 2013 00:04:52 +0000 Terryw wrote:
Is the offset account an offset account or a redraw account called an offset? There could be a big effect if the loan is investment related.

Hi Terrry,

I am interested in your update….what effect will it have if Investment loan has offset or redraw account linked to it..

Cheers 

]]> af931073bc4815ba2dcecdfe22a379e7 s0805 replied to the topic Loan Comparison in the forum Finance https://www.propertyinvesting.com/topic/4409065-loan-comparison/#post-4689025 Fri, 05 Apr 2013 01:16:28 +0000 Terryw wrote:

s0805 wrote:

Jamie M wrote:
Just had ANZ do 5.44% on similar numbers.

Cheers

Jamie

Hi Jamie,

No luck with the negotiation. ANZ advised unless if I increase my lending to 700K they can't consider any discount.

Any other suggestions guys…..

Cheers

Write to them and ask for a payout figure because you are moving your…[Read more]

]]> 2d025654f9b8d6db5c8faa225e830ad9 s0805 replied to the topic Loan Comparison in the forum Finance https://www.propertyinvesting.com/topic/4409065-loan-comparison/#post-4689022 Thu, 04 Apr 2013 00:30:17 +0000 Jamie M wrote:
Just had ANZ do 5.44% on similar numbers.

Cheers

Jamie

Hi Jamie,

No luck with the negotiation. ANZ advised unless if I increase my lending to 700K they can't consider any discount.

Any other suggestions guys…..

Cheers

]]> e181f8c0bf73eb7c227d054af92c9709 s0805 replied to the topic Loan Comparison in the forum Finance https://www.propertyinvesting.com/topic/4409065-loan-comparison/#post-4689021 Sat, 30 Mar 2013 00:50:04 +0000 thanks a lot guys…..will give them a buzz and keep you posted on outcome. 

]]> 05a036bafc1ebd74a0b482d33a5e1999 s0805 replied to the topic Loan Comparison in the forum Finance https://www.propertyinvesting.com/topic/4409065-loan-comparison/#post-4689017 Fri, 29 Mar 2013 04:03:40 +0000 Thanks Jamie, I am after the rate deduction. Should i just call their mortgage services and say that my broker has advised that they can get me better deal and to see if they can match it or not. The impression i got from branch is that i need to do pricing application.

sorry have never negotiated like this with lender……

]]> 675e128918a6bcd576a977684326f55a s0805 replied to the topic Loan Comparison in the forum Finance https://www.propertyinvesting.com/topic/4409065-loan-comparison/#post-4689015 Fri, 29 Mar 2013 02:15:01 +0000 Thanks all for your response…..

Personally, I would prefer to stay with my existing lender and the structure i have setup (to avoid all the trouble).

Jamie, I m with ANZ as well, but not getting what you recently received. How you guys think i should progress with

1) do requesting pricing from lender will affect the Credit file
2) don't mind…[Read more]

]]> 4f3a9dd5836209921466b80d3b7485d0 s0805 replied to the topic Loan Comparison in the forum Finance https://www.propertyinvesting.com/topic/4409065-loan-comparison/#post-4689008 Thu, 28 Mar 2013 08:43:12 +0000 total loan amount is ($583K) and current valuation (830K), LVR 70%…Not sure if i got the calculation right…..

Below is the balance

PPOR = 230K Outstanding = Valuation $410K  –> 100K+ linked to offset
Resi Loan 1 (equity from PPOR) = 90K
Resi Loan 2 = 263K = Valuation 330K

Thanks

]]> bd51bddf3440c9e3ba400f0d7080b5aa s0805 replied to the topic IO Equity Loan - where to hold money in the forum Finance https://www.propertyinvesting.com/topic/4408817-io-equity-loan-where-to-hold-money/#post-4687201 Thu, 14 Mar 2013 00:15:55 +0000 Hi ,

I am not expert at this, but can advise that I was in same boat. I've done

1) this point. I agree with TerryW that to make sure offset account linked to this IO has no other funds apart from the excess fund which will be used at settlement. I, still have this offset account open with some excess funds, which I am planning to put in redraw…[Read more]

]]> b03fdec26c69f7b78b6d1e88dae12905 s0805 replied to the topic Insurance feedback in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4408601-insurance-feedback/#post-4685446 Thu, 28 Feb 2013 00:04:07 +0000 Hi Duckster,

thanks for your response. It wasn't my intention to get financial advise via this forum, but i can see how it could have sounded like I was seeking financial advise, my apologies for that.

Also, thanks for the links provided, hopefully that will guide me to understand what sort of insurance policies are out there.

thanks again,…[Read more]

]]> c11422070edb2dbae6df96a87643b92b s0805 replied to the topic Accountant needed in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4408551-accountant-needed-10/#post-4685001 Fri, 25 Jan 2013 01:14:58 +0000 Thanks Jamie.

]]> 89339051bc5b87c39407a72bd081f22a s0805 replied to the topic Loan Structure using PPOR Equity in the forum Finance https://www.propertyinvesting.com/topic/4408371-loan-structure-using-ppor-equity/#post-4683423 Sat, 05 Jan 2013 06:46:06 +0000 Hi Jamie/PLC,

I am not 100% percent sure but will check with my broker if this loan has redraw facility or not. I’ve feeling that this was discussed with my broker during loan setup and I was somehow convinced not to go that path….anyway I’ll check that again.

Please correct me if I am wrong the way redraw work is like this e.g. Loan of 60K…[Read more]

]]> acdc6b61b0de8dafc88d2ba9311b88ba s0805 replied to the topic Loan Structure using PPOR Equity in the forum Finance https://www.propertyinvesting.com/topic/4408371-loan-structure-using-ppor-equity/#post-4683422 Sat, 05 Jan 2013 06:44:18 +0000 Terryw wrote:
Sounds like you have borrowed money to invest in a non interest bearing savings account. Dangerous

Hi Terry,

Thanks for your reply. I am not sure about what you meant.

My intentions to borrow this money is only or investment, but after the settlement I found that bank has lend me more money so rather than mixing this money…[Read more]

]]> 7b2666da7e42839c8185b7d26eb26e47 s0805 replied to the topic Loan Structure using PPOR Equity in the forum Finance https://www.propertyinvesting.com/topic/4408371-loan-structure-using-ppor-equity/#post-4683418 Fri, 04 Jan 2013 07:19:06 +0000 Thanks Jamie for your reply.

– currently there is no plan to convert PPOR to IP, in any case converting it to IO would be good idea if I suffer with serviceability

-i agree offset is not the best place to park the equity release…..Loan in question is IO only so can't put that into redraw until it becomes the P&I.

Just need to get your comment…[Read more]

]]> 5958b4ba0b97a5006cd8829963fe4b1e s0805 replied to the topic Use of equity in PPOR to place a deposit for IP in the forum Finance https://www.propertyinvesting.com/topic/4407912-use-of-equity-in-ppor-to-place-a-deposit-for-ip/page/2/#post-4679510 Fri, 28 Dec 2012 06:27:28 +0000 Terryw wrote:

s0805 wrote:

Hi Terry,

I had identical situation and had just settled on my first IP. I need your opinion to understand if I've done this right or not. Bank allowed me to borrow $90K as equity of my PPOR as separate loan, when I was settling on $90K loan I advised bank to open new offset account and link it to $90K and put all…[Read more]

]]> c4d998d14fb4cf49d2061410c8cc7b75 s0805 replied to the topic Use of equity in PPOR to place a deposit for IP in the forum Finance https://www.propertyinvesting.com/topic/4407912-use-of-equity-in-ppor-to-place-a-deposit-for-ip/page/2/#post-4679508 Thu, 27 Dec 2012 07:00:19 +0000 Terryw wrote:

jmsrachel wrote:

kat13 wrote:
We pulled out the equity on our house – 90K which got paid into cash into our offset account until we were ready to get something…but we are also using 30K for personal improvements which is maybe why it was done that way????

We are currently waiting on preapproval for the rest (not sure how…[Read more]

]]> cf20cd7f2863df1ec9d66deea2292080 s0805 replied to the topic Taxation query scenario in the forum Finance https://www.propertyinvesting.com/topic/4406089-taxation-query-scenario/#post-4665501 Fri, 16 Mar 2012 01:13:06 +0000 luke86 wrote:
This is complicated- I would get actual advice from a suitably qualified and experienced accountant rather than from a forum. Relying on something that someone told you in a forum is not the best idea.Cheers,Luke

Hi Luke/Terry,Agree with you guys that using LOC would uncomplicate things in this scenario. And totally agree with…[Read more]

]]>