Sorry Michael – I may not have explained myself well enough (bad habit of mine sometimes) – my credit limit is about $22,000, but I currently owe just under $7,000 and most of this has just been transferred to a new card on which I'm only paying 0.99% interest for 9 months.So… Assuming I can pay this off and save $15,000 as a deposit in the…[Read more]

Thanks again Michael,Am I correct in assuming that a line of credit, much like a credit card, will reduce the amount of money I can borrow on the loan? If I've got no credit card and no line of credit, wouldn't I be able to borrow more than if I had a line of credit? I'm essentially trying to maximise the amount I can borrow to purchase another…[Read more]

Thanks Michael,No dependants, no other debts at all, might be able to get a stat dec for my living arrangements, but let's assume my circumstances change (or those I'm living with) and that I have to find a place to rent. I could, in the current market, find a room to rent for $150/week in my area – certainly much less than $290.My current total…[Read more]

Thanks Jamie,Most of the properties I've been looking at (only roughly based on what I think I might be able to borrow) are attracting between $300 and $350 per week – if I can afford something with a higher rental return or better yield, then by all means I'd do it.I completely understand it could go either way, but let's assume interest rates…[Read more]