interest only

  1. Jamie M

    Principal And Interest Or Interest Only?

    A question I'm always asked is "should I be paying interest only or principal and interest on my loans" so I thought I'd share my thoughts. For a lot of SS gurus - this info is nothing new but hopefully some of the new members will gain some benefit from it. When it comes to claiming an...
  2. C

    Changing from P&I to IO. Pre-paying interest to reduce tax questions.

    Hi All Looking for a bit of advice here.. I think i'm on the right track but would like some reassurance after speaking with my accountant today. Situation is. Have a 2br unit in inner North Melbourne, bank valued at $400K, $191K principal owing. For 9 years been paying P&I. Unit...
  3. S

    Taking the plunge and getting first IP

    Hi all, Was wondering whether I could get some advice from all the pro's out there, I've been interested in investing in property for about the last 2 years and have read countless threads in the last 12 months here on Somersoft, so feel like I have a pretty good idea of what to do, but...
  4. S

    Maximum period for interest only

    Hi, my broker just advised me that the usual Interest only period with most lenders is five years after which the loan could be either refinanced or converted into PI... Is this a valid statement? On 30 year loan the first five years on PI loan will comprise mainly of onterest repayments in...
  5. Alex P Keaton

    IO - Only for 10 years? - Best SV IR ?

    Hi IO Just for 10 years? I was just on the phone with ANZ. My IO period reverts to P&I in a couple of weeks so I will be changing it back to IO as I dont want P & I. ANZ said that after 10 years the bank wont allow you to pay IO they will make you go onto P & I. Is there a way around...
  6. S

    Regular payments to Investment loan

    Regular payments to IO Investment loan Hi, I'm a new to prop investing and I'm thinking about making fortnightly payments to my Interest Only Investment loan to reduce the amount of interest charged on it to a point where I can manage the payments comfortably. Yes I know you are probably...
  7. 1

    what to do with 1st property? --- need help!

    my partner and i are hoping we can get some ideas from the forum around what to do with our first property. things we need opinion on are whether to make it residential or investment or both, and a few other things. i'll start by saying that the property is a land that we're planning to build...