Can you please confirm funds are in a separate offset account and not in the redraw?
Personally I wouldn't discharge, I would be using the equity in the property to use as a deposit for IP purchases and would be keeping all the funds available in the offset.
As for borrowing from the same bank, will be benefits because you already have a loan with them (even though it's offset)... So should be less fees and likely better rate going through the same bank... But all depends on who the bank is and your plans.
depending on your circumstances, goals and risk profile you may require some specific credit advice to get the best outcome
I share Jamies and Brady's view of retaining your tax paid cash against the mortgage .
You may need to pay a little bit back in to get the right mix/lvr to do a loan split to get the deposit out in a tax deductible way
ta
rolf
I share Jamies and Brady's view of retaining your tax paid cash against the mortgage .
You may need to pay a little bit back in to get the right mix/lvr to do a loan split to get the deposit out in a tax deductible way
ta
rolf
Good to get osme legal advice, tax advice as well as credit advice.
Under the various conveyancing ats a loan goes with the property unpon death. So uner your will if you have not taken this into account certain beneficiaries can miss out or have a reduced gift.
There is also asset protection issues
Under the various conveyancing ats a loan goes with the property unpon death. So uner your will if you have not taken this into account certain beneficiaries can miss out or have a reduced gift.
There is also asset protection issues
