Hi guys, I'm looking at purchasing a unit approx $190 – $200k.
Will be first purchase, my income after tax is $52,000 – not sure if you guys reading need to know that.
What type of loan should I be looking for?
Plan on purchasing another property next year and hopefuly another towards the end of 2010.
Want to get in before FHOG ends this month; still undecided where to purchase property though. I live in Canberra but there's certainly nothing at that price range, unless I head towards Queanbeyan
Please all feel welcome to give me advice
Personally i would always look for an interest only loan with 100% offset as it gives flexibility and allows for a change in your own circumstances.
If you are looking to repeat your purchases over the coming months / years there maybe some mileage in looking at one or two of the Pro packs.
Richard Taylor | Australia's leading private lender
I agree. IO loan with 100% offset with a major bank.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Yes agree also, IO is great. Especially for investment property later on after the FHOG obligations etc
Maybe worth looking at pre-locking in a fixed interest rate unless you have the capacity for the interest rates to
rise by maybe 2-4%(purely speculation however they are only heading one way…..)
You must be logged in to reply to this topic. If you don't have an account, you can register here.
