Hi All,
I am currently refinancing my loan, unlocking equity
So my loan would be 400K (tied against PPR). Variable P&I loan with offset
And cash out amount would be 100K. This would be used to buy investment property in future.
My question is what's the best way to structure this 100K.? It should be IO that's for sure because it would be used for investment purpose.
1. Have a separate loan for 100K . Should this have an offset account? Pros n cons
2. Have a separate loan for 100K without offset account. In this case wouldn't I be paying monthly instalments of say 415 p/m? How would this work confused
Any help would be appreciated.
Regards,
I am currently refinancing my loan, unlocking equity
So my loan would be 400K (tied against PPR). Variable P&I loan with offset
And cash out amount would be 100K. This would be used to buy investment property in future.
My question is what's the best way to structure this 100K.? It should be IO that's for sure because it would be used for investment purpose.
1. Have a separate loan for 100K . Should this have an offset account? Pros n cons
2. Have a separate loan for 100K without offset account. In this case wouldn't I be paying monthly instalments of say 415 p/m? How would this work confused
Any help would be appreciated.
Regards,