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Wouldn't the loan automatically close if you pay it off and have a zero balance?

Hi, I was wondering what I should do with the left over funds from a refinance for an IP. Eg: I have $255 000 that I am refinancing from Bank A. To make sure that there is enough money to cover the refinance, Bank B allows $260 000. On the day of settlement, the actual figure that is...

Can you elaborate on what the benefits are of linking multiple offsets to the one loan? Why would you put funds into separate offset accounts when you can just put it in the one (assuming your interest rate is the same across all your loans)?

Ok thanks tobe

I just received my evariation for the nex t financial yr and it says my tax rate has been reduced to 19 percent. I'm wondering how much tax this works out to be. Does anyone know how to calculate it?

Thanks for the replies. I guess I could try asking the bank to do a 40k increase on IP2 and pay the top up loan out, but I have about 345k on the IP2. If I increase this (345k + 40k) to 385k this might take the LVR to above 80% so don't know if I'll have to pay mortgage insurance. This...

Hi, I have one loan worth 260k on an IP. Couple of years ago, I decided to top up this loan and took out an extra 40k in order to purchase a 2nd investment property. The top up loan was set up as a separate loan. Now I am thinking of consolidating the top up loan back with the original loan...

Really 1% off? I just got off the phone with a Home Loan specialist and he said the best he can do is 0.9% off. I have 2 loans worth 317k with CBA at the moment and looking to bring across another 350k (<80% LVR). Who do I speak to to get the 1% off?

Hey guys, I just thought I'd like to warn people about MyRate and how they are charging new and existing borrowers completely different interest rates on the same Loan Type. You can have a read of some very disgruntled borrowers who have already fallen for the trap...

Hi and thanks again for the replies. Yes, I'll definitely sign up to the committee. With regards to the committee meetings, the decision was apparently approved on 27 April 2010. Apparently the committee members are able to make decisions like this without notifying the rest of the owners who...

Thanks for the replies guys, No, it's not a typo, it actually states 90 thousand. Now something else has happened, I've rung 2 other people who also own apartments in the same complex and to my great surprise, they did not receive this Levy Notice!!!?? At the very least, shouldn't this...

Hi there, I'm just after some opinions and advice as I'm not sure where else to go with my problem. I own a single apartment in an apartment block (9 stories) and recently I've received a letter from the Body Corp saying that they need to raise $90 000 immediately to cover the cost of...

Thanks guys for the replies. Long weekend here in Melb so will have to wait until Tuesday to talk to the agent.

Hi, I have an apartment and just today the real estate agent has notified me that the current tenants living there are not getting hot water anymore. The hot water is heated by gas and the pipes and meters are located in the lobby of each floor. The apartment complex is managed by a body...

What implications do you mean?

Hi Marg4000, So what happens if you move away from the original PPOR for greater than 6 years, then you move back into it say in 10 years, can you start another 6 year exemption period again? Also how long do you have to stay for when you move back? 6 months? 12 months?

Well I'm just wondering if the laws are different based on renting out your whole house or only a part of your house.

Hey guys, I want to rent out a spare bedroom in my house and for security reasons I will be collecting a bond from the tenant in case they cause damage etc. I was just wondering if it is a legal requirement to pass this bond onto the RTBA? And what happens if I don't pass it on? Thanks.

Hi Julia, Can you explain what capitalising interest means? And also what is a PBR? Thanks

Hi, I have heard that depreciating is a double edged sword and that you should only be depreciating assets in your investment property if you plan on replacing them at some stage. But what does this exactly mean? For example, if I depreciate a fridge, when do I need to replace it? And what...