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From: Moyna Mercer
I have been reading the 'posts' on this site and obviously there are many informed and helpful people contributing. Could you please help me? I am being posted overseas for three years and would like some advice.
I own my own house ($22O,OOO approx) and wish to buy another (need a larger place) before I go, to live in when I return.Approx. income would be about $lOOO p.m. for the two properties for the time that I am away. This would all go to the mortgage. I am not sure of the best way to go about this to gain the maximum advantage.Would I get an I&P loan or interest only - the loan would be for the full amount - about $23O,OOO.
I would be most grateful for any help.
I have been reading the 'posts' on this site and obviously there are many informed and helpful people contributing. Could you please help me? I am being posted overseas for three years and would like some advice.
I own my own house ($22O,OOO approx) and wish to buy another (need a larger place) before I go, to live in when I return.Approx. income would be about $lOOO p.m. for the two properties for the time that I am away. This would all go to the mortgage. I am not sure of the best way to go about this to gain the maximum advantage.Would I get an I&P loan or interest only - the loan would be for the full amount - about $23O,OOO.
I would be most grateful for any help.
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