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My wife currently owns the unit we live in, value 800k, current loan is 270k. We borrowed a further 279k to fund our deposit for our next PPOR (which will be an IP until we move in there 2 or so years). We want to convert property A into an IP when we move to property B. I want to buy 50% of...

Can someone explain how we do this? I spoke to my mortgage broker and she says I can't borrow money to buy 50% in my name only, that all loans against 1 property need to be in both names. Has anyone actually done this and can give some advice about it? Also with regards to the tax implications...

So basically it works like this: 800000 property value 50% = 400000 current loan 270k (wife name) borrow 400k to buy 50% of property - pay off half the loan 270000/2 = 135000 400000-135000 = 265000 in savings account New total loan against property 135000 + 400000 =...

Hi Terry_w, The current place is only in my wife's name. The next property will be in both names as we will require both incomes to get the loan. How would I go about purchasing 50% of the current PPOR? I take it this is something our mortgage broker could assist us with? Cheers

Thanks for the replies guys, nice to know that i'm thinking along the correct lines. With option one I was planning on purchasing 1 or 2 more IP's prior to moving into the new PPOR as we unlock additional equity in the current unit. Then the plan is once the new PPOR loan is down to a reasonable...

Hi, I was hoping for some advice about my current plans. My wife and I currently own a 2 bed unit in Erskineville (Sydney) which has a market value of 800-850k. We purchased the property 2 years ago for 595K. We are currently looking at using this equity to purchase an IP with the intent of...