Recent content by A&P

Thanks again, that's exactly the information i was after. Feel more confident at least knowing what the best way to structure the loans would be. I did look at the banks website and they have a Line of Credit loan which accesses the Equity in your homeloan. Guessing that would be equivelent to...

Thankyou Rolf for your helpful information and not just shooting me down because I actually like the property we are buying. Can i ask with the Equity loan for 306k are we able to draw down this for another property deposit also? are there time restrictions to use it? as we would like to...

oh and the return is good....well i'm happy with it. Cost $290k and rent is $370 per week with strata of $450 pq...obviously this can change but not bad.

We are buying a IP as we don't want to keep paying into our super fund...would rather not put all our eggs in one basket. So this is a long term investment. We wanted an easy care/maintenance property in good condition in a good location close to shops, schools, transport etc. The property has a...

My understanding is that we will end up with essentially 3 loans from memory when asking our bank about it when we organised our home loan and enquired about an IP loan, our PPOR, a loan for the 20% deposit (using equity in our house) and a loan for the 80% balance....am i right in this? I'm no...

BTW....will be signing with a 10 day cooling off period. We deal with a small building society who are quite fast with processing loans. After looking at many places over the last week we really like this one and would risk losing our $750 .25% than lose the property to someone else.

Yes property is in Sydney. Yes was going to do this previously but circumstances changed, won't go into details. We have since just downsized our home and our debt and did mention to the bank 3 months ago when we borrowed for this place that we would be looking to buy an IP very soon and they...

Hi all, We have just found an IP today, a 3 bed townhouse and have agreed on the price and will sign tomorrow. We are assuming there won't be a problem with the bank but would like some advice on how to structure the loan and if we would have to pay mortgage insurance or not? Our PPOR is...

We have a ppor with land value of $335000 and have just purchased an investment property with land value of approx $280.000. Am i correct in saying that you don't pay land tax on your ppor but yes on an investment property? If so can someone please tell me roughly how much we are likely...

Just wanted to say thanks again for all your help in answering my question. Went to our bank today and had our loan approved. Using our house as security on a 20% purchase price and the balance in another seperate loan. Very easy indeed. Oh and when we do sell our ppor which will be used as...

Thankyou all for your replies. i'm off to the bank today armed with all your very helpful info and fingers crossed we can sort this all out and sign the contract today. That is after we decide which property we will buy after finding another one yesterday. grrrrrrr decisions decisions!

I have decided to go and speak with our bank (Greater Building Society) and see what they can do. Does anyone know, if we borrow the 20% deposit for the Investment Property using our home equity what happens if we sell our home which we are likely to do in the next 12 months. Would this 20%...

Ok, so i think i understand now. Thankyou by the way. So we essentially need 3 loans. One for our ppr, one for the deposit on investment property (secured by our ppr) and the last one for the balance on the investment property. ? Also I guess I would be right in saying we SHOULDN'T use...

OK so you are saying we should refinance our ppor by the amount we owe plus add 20% more to this amount (current balance plus deposit for investment property) to pay for the deposit on the investment property. So that would make our ppor mortgage payments higher as the loan size would have...

Hi All, Hubby and I are new to investing and are looking at purchasing an investment property. We actually have found one and are signing the contract tonight so need advice real fast. Our place of residence is valued at $700,000 and we have a loan of $255,000 on it with a cash back...