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Thanks Rolf once again. This looks good. For a fee of $384.00 they can provide guarantee of $32K. Will request my solicitor to arrange for this.

Rolf, I just signed contract yesterday. So probably I do have 35-42 days.That's enough time for organising all. But yesterday I realized I have to pay 10% (on request can be 5%) in 10 days from signing the contract. I can ask for some extension but still. I have called Myrate (existing...

K_Raheja@ - Mate, You would understand the anxiety for the 1st timers like me. I really appreciate the effort Rolf has put in to answer my enquiries. I have got good understanding of things now but got struck on this problem.

Rolf, Even if they divide my existing loan into 2 with 151K and 42K IO loan as separate, question ATO would ask is "you already paid 42K yourself. So why are you claiming tax deduction on a loan that was set up after the settlement". Becoz in above case once top up gets done, I would be...

Rolf, Another question mate. Sorry for the trouble. If I currently withdraw 42K to pay for 10% deposit and stamp duty to fund my CBA new loan and at the same time request existing lender for top up of 42K with IO loan. Will that be still allright. As time is short rather than waiting for top...

Sorry to bother you again Rolf. Can I still put my extra cash in offset of my existing home loan of 193K. Wont ATO tell me to put my money in 67K separate loan as I am claiming deduction on interest on that portion inspite of having extra cash. I know these are small questions but I want to...

Thanks Rolf. You are a legend !! Much appreciated. :)

ok got it rolf. So basically it is same as topping up my loan to maximum 80% LVR (260K) but making sure I keep 67K as Separate Loan account to 193K So that things dont become messy. "U can then use that 67 for the deposit and costs for the CBA loan" - Big question is Can I use interest...

Thanks for your reply, Rolf. Can you please eloborate on this. What do you mean when you say "Setup a SEPARATE facility to 80% lvr" As this will be my first IP, I am new to all this. I understand the second part, converting PPOR loan to IO loan with offset to keep principal higher in case...

Hi Guys I am interested in knowing what are the pros and cons of setting up LOC on my existing loan and topping up my existing loan ((to take the total borrowings on this security up to 80% LVR) My current situation is: Loan Amt left on my PPOR - $193,000 Lender for my Current property -...