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  1. W

    Loan Contamination

    Mugen that's EXACTLY How NAB set it up for me! 2 months ago.... And to make it worse.. I'm in the process of moving to St george.. Everything has been approved. Valuation come up even higher... and when i asked the bank they will do exactly how NAB set up my offset. So i wonder how many people...
  2. W

    Loan Contamination

    That's exactly what happen. Move to a new Bank from CBA.. Valuation come up NAB put whatever extra on top of the 20% into my Offset account. Bank should be liable to this, we're just regular person who have no knowledge of Taxation nor Accountant. Also fairly new to investment game! So BS if...
  3. W

    Loan Contamination

    The equity is used for 10% deposit for Off the plan property... How does that work ?
  4. W

    Loan Contamination

    But if you withdraw and use it for another IP it should be fine right ? I have withdrawn it and buy another 2 IP.... However i do have alot more sitting in the offset account, but have not use it at all. Just sitting there
  5. W

    Loan Contamination

    Hi Terry, So you're saying that No income should go to my offset account. It should be separate ? please see this scenarios: To be precise say My property is 500k so the loan set up is the following: 1. Loan account 400k Balance of 500k (assuming 20% deposit) 2. Offset account say 10k (e.g...
  6. W

    Loan Contamination

    So are you saying that income should not go to the 100% offset account ? What's the purpose of having an offset account if it need to be separated ? I still don't understand! To be preciesed say My property is 500k so the loan set up is the following: 1. Loan account 400k Balance of 500k...
  7. W

    Loan Contamination

    This is what the Bank do. Why would they do that..... If they know it will cause a problem!
  8. W

    Loan Contamination

    It's all for IP. I dont have PPOR
  9. W

    Loan Contamination

    When i set up my account with NAB. They do this automatically 1. Loan Account and 1. Offset 100% account. Have no idea what to do then.. All the extra equity is in My Offset account including my salary + other expenses. This is the setup that NAB did for me when i move from CBA...
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