Offset Q

[paisneil]

Hi Guys

Scenario
IP1 loan with offset account in own names
IP2 loan with offset bought through a trust structure
PPOR loan with an offset

Could I get all the rent money to go into the PPOR offset and pay the IP mortgages from the PPOR offset without contaminating any loan structure

Thanks

 

[Terry_w]

Hi Guys

Scenario
IP1 loan with offset account in own names
IP2 loan with offset bought through a trust structure
PPOR loan with an offset

Could I get all the rent money to go into the PPOR offset and pay the IP mortgages from the PPOR offset without contaminating any loan structure

Thanks

You will have to check the trust deed and see if the trustee is able to lend money interest free to a beneficiary.

If so the trustee could lend the money and you could put it in your savings account. I don't think there would be any tax issues.

Why do you need an offset on IP1?? it would be much better to have all income go straight into the offset on the PPOR loan as this is not deductible.