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Think about what else you would do with the difference between paying P&I and paying IO. If you are thinking about investing that money then the return should be a higher percentage than the cost of your mortgage, that way you are making the most of the money. If you want to own your own...

If you want only one loan for the two properties then you would have to cross collatorise. If you are prepared to have two loans then you can avoid the cross. When you borrow above 80-85% of the value of your property you will incur Lenders Mortgage Insurance (LMI). So if you increase the debt...

You can own an investment property and have a loan against it for the total value plus the fees and charges. This should give you the greatest tax claim and reduce the debt against your owner occupied property and if you make it “interest only” you only have to service the interest and any extra...

Hi Crane, I would love to get some more details and help you find the right lender before you resubmit. Macquarie has gone through a lot of change and they may have affected your application and their willingness to accept it. I would be surprised if this was the only reason you were rejected...

I recommend you speak to a solicitor. I don’t see any reason why you would need to pay anything at this stage. Mortgage documents from a lender are only issued once a property has been located and full approval has been granted. You might also like to check with the Mortgage & Finance...

In this situation a lender will look at the overall value of all the property and total amount of all loans. This means they can lean against both properties (500k + 380k = 880k) and you may choose to have as many loans as you need against that. If you have to borrow above 80% you maybe required...

I agree with you it is an incredibly exciting time and it is great that you have so much equity and flexibility. In my opinion you should consider the lowest variable rate you can get and make sure the loan has redraw at no charge. The beauty of this is that you can borrow to 80% of the value of...