Can anyone tell me about Borrowing interest only loan as against Principle and Interest are there fors and against especially in investing with the view of passive income i would love to get some feed back thanks Danny[
]Most people choose either for personal preferences. The only real time I would strongly recommend anything is as follows:
If you have a PPOR debt and an IP debt then the IP debt should be IO until the PPOR is paid out. Reason – the IP interest is tax deductible whereas the PPOR isn’t.
Hope this helps.
Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
G’day Ozzpom…
A bit of both in my opinion.
To achieve that you need to structure your loan(s) in such a way that they are tax effective.
To advise you further would require a detailed analysis of your: income, assets and liabilities.
Yes, there are fors and against, so you set up your portfolio to accommodate both. I have done it successfully for 10 years.
If interested to know more please email me :and I will forward you a PFA for self analysis.
Personal Financial Analysis….Cheers for now
Bill
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