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thanks terry, thought that might be the case. found out more bad news... we have redrawn $115k over the life of the loan for various holidays, cars, etc. does that take the deductible principal down from $375k to $260k?

Thanks DT! So: - Just leave the 375k with 80k redraw untouched. - Pay minimum interest payments on loan in home loan account - New extra repayments into MISA? Are there consequences of withdrawing redraw money in an emergency if I need it (other than increasing interest payments).

Made a bit of a mess! About to convert my PPOR to IP and realised I have stuffed up badly: - CBA Home Loan (P&I) is approximately $525K, current balance $375K ($80k available in redraw) - The home loan came with a MISA offset account. - I have had the home loan since 2009 and made extra...

I'm moving interstate for work in a hurry and we're moving out of our PPOR and will rent out it out: - Home Loan (P&I) is approximately $525K, current balance $375K - Current Valuation of property is approximately $750K - Both me and my wife are PAYG wage earners A friend has recommend that...

I think I'm close to making to the decision to sell due to the following factors: 1. Dealing and paying PM 10% (Queensland) 2. Dealing with tenants 3. Cashflow -ve . Will need to tip in $500-1k per month. 4. Illiquid 5. I believe capital growth prospects over the next 5-7 years not promising...

PPOR 1 (current) - Valued $725k - 4 years old, built 2009. - Small lot (200m2), 3 bed, 2 bath, 2 garage. Funny layout... living area up top. - 4kms from Brisbane City in trendy suburb - Rental appraisal $700-750 pw PPOR 2 (future) - Need bigger home for family needs - Intended spend $750-850k...

Here is my situation: PPOR: Currently own value $750k with $300k in equity. IP: Would like to buy with budget of $400k. I'm not sure if this is a stupid question - Is it possible to purchase the IP using the equity from my home (instead of fronting a cash deposit from separate savings)...