Search results

"you have borrowed to invest in a savings account." Sorry I still don't understand that. As I see it, I am claiming interest paid on $50,000 which is directly attributable to my IP?

Thanks for prompt reply Rolf. Is Macq not great to use early because they are a generous lender? Also, how do you suggest I easily research serviceability of different lenders? Making enquiries with each lender is obviously very time intensive. Thanks again.

No. Is there a problem you see that I don't? Just to be clear, I borrowed $150,000, when I needed $50,000. So immediately parked the difference in an offset account and am claiming the interest paid on the $50,000. This $50,000 covers deposit, stamp duty and renovations.

Current situation: Have purchased one IP using loan with loans.com.au for 80% LVR. Borrowed remaining 20% + closing costs (~$50,000) with Macquarie using my PPOR as security, which I owned outright. PPOR is worth $300,000 and I borrowed $150,000, then immediately put the difference into...