PropertyInvesting.com | ZenZen | Activity https://www.propertyinvesting.com/members/skippyz/activity/ Activity feed for ZenZen. Tue, 14 Apr 2026 22:59:17 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 8eb3dad556f6805cf4a248b62c4c8f7a ZenZen replied to the topic Help regarding loan structure of 1st IP in the forum Finance https://www.propertyinvesting.com/topic/4405383-help-regarding-loan-structure-of-1st-ip/#post-4660209 Wed, 14 Dec 2011 23:52:35 +0000 Thanks Richard.You initially advised me to switch the loan to an interest only loan with 100% offset account asap to preserve the dedcutibility of the interest going forward. I understand thisand I have explored this in this forum and read Jamie's article as referred to in the…[Read more]

]]> 7828e2679a6d89c21839eaba1791ed9c ZenZen replied to the topic Help regarding loan structure of 1st IP in the forum Finance https://www.propertyinvesting.com/topic/4405383-help-regarding-loan-structure-of-1st-ip/#post-4660207 Wed, 14 Dec 2011 00:22:40 +0000 Thanks again Richard and Terryw. I feel like I have read many topics in finance section but still lots to learn!OK, so from your advice, I understand now that as long as I can take a LOC as a secound loan to cover 20% amount of IP price and other admin/legal costs to cover from Building Society, the first IP purchase can go ahead. I believe we…[Read more]

]]> 6bd8021bbb00e92e3362250b1c2324d9 ZenZen replied to the topic Help regarding loan structure of 1st IP in the forum Finance https://www.propertyinvesting.com/topic/4405383-help-regarding-loan-structure-of-1st-ip/#post-4660204 Tue, 13 Dec 2011 22:52:39 +0000 I was just advised from our broker that I can only take a LOC from current Building Society as they hold our mortgage.I would like a second opinion. Is that correct that we cannot apply for a LOC from other lenders than current B.S.?Also, when B.S. during LOC application process, do B.S. consider current offset a/c balance into consideration?I…[Read more]

]]> 9aaa953770dcaca219df783408479214 ZenZen replied to the topic Help regarding loan structure of 1st IP in the forum Finance https://www.propertyinvesting.com/topic/4405383-help-regarding-loan-structure-of-1st-ip/#post-4660201 Sun, 11 Dec 2011 23:06:56 +0000 karlm63 wrote:
For your every day expenses do you use a credit card ?

Hi karlmYes, we pay all day expenses using credit card and pay off from offset account.We keep all extra cash in our offset account.The reason we refinanced from St G LOC to building society's home loan was we didn't utilise LOC account as the loan was only for our PPOR.and…[Read more]

]]> 1d38ce6f3553005eabbd27de8e4143cd ZenZen replied to the topic Help regarding loan structure of 1st IP in the forum Finance https://www.propertyinvesting.com/topic/4405383-help-regarding-loan-structure-of-1st-ip/#post-4660200 Sun, 11 Dec 2011 23:04:56 +0000 karlm63 wrote:
Hi SkippyzFor your every day expenses do you use a credit card ?

Hi karlmYes, we pay all day expenses using credit card and pay off from offset account.We keep all extra cash in our offset account.The reason we refinanced from St G LOC to building society's home loan was we didn't utilise LOC account as loan was only for our…[Read more]

]]> b92f8b5df7bbfb78fe0b55bade810e1c ZenZen replied to the topic Help regarding loan structure of 1st IP in the forum Finance https://www.propertyinvesting.com/topic/4405383-help-regarding-loan-structure-of-1st-ip/#post-4660199 Sun, 11 Dec 2011 22:52:50 +0000 Thanks Richard and Terryw for your advice and comments.Equity loan sounds like the way to go. I will further talk to our broker.For this time, we only need 20% of  aquisition cost plus legal fees from equity loan. We prefer not to pay LMI.Kind regards,Skippyz 

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