Hi Everyone!
I have been reading through this forum the last few weeks and have found it really informative. I am a beginner myself in the world of property investing but hoping to learn more about it.
My current situation is that I currently own one IP in Beaudesert QLD where we bought the land last year and finished constructing the house by January this year. That is currently rented and is going well. The ownership of it is 60% under my name and 40% under my wifes name.
We are now planning to buy our first PPOR in Seven Hills in western Sydney. I am considering taking out a loan through ANZ as they have a deal with my employer where I can have the professional package without any of the fees (no application/ establishment, .7 off the variable, offset, and no monthly or yearly fees.)
The loan itself will be interest only and I will place all my excess funds into the offset as I may eventually rent the house out if we buy a new PPOR later.
My question is, is it usually better to take out the loan in one name only or it does not affect future borrowing capacity if the loan is in both the names?
Regards,
Raja
I have been reading through this forum the last few weeks and have found it really informative. I am a beginner myself in the world of property investing but hoping to learn more about it.
My current situation is that I currently own one IP in Beaudesert QLD where we bought the land last year and finished constructing the house by January this year. That is currently rented and is going well. The ownership of it is 60% under my name and 40% under my wifes name.
We are now planning to buy our first PPOR in Seven Hills in western Sydney. I am considering taking out a loan through ANZ as they have a deal with my employer where I can have the professional package without any of the fees (no application/ establishment, .7 off the variable, offset, and no monthly or yearly fees.)
The loan itself will be interest only and I will place all my excess funds into the offset as I may eventually rent the house out if we buy a new PPOR later.
My question is, is it usually better to take out the loan in one name only or it does not affect future borrowing capacity if the loan is in both the names?
Regards,
Raja