Using PPOR offset account savings for IP - Tax deductible?

[Aaron_C]

The way lenders (especially the majors) are reckless with borrowers' credit checks makes me really angry. It really is not necessary to do 3-4 checks for the same loan. Then they reject the loan because of too many credit checks impacting on the credit scoring.

 

[Rolf Latham]

The way lenders (especially the majors) are reckless with borrowers' credit checks makes me really angry. It really is not necessary to do 3-4 checks for the same loan. Then they reject the loan because of too many credit checks impacting on the credit scoring.

yes but ..............BS system considerations etc

I have said it before that the focus of the NCCP now needs to shift from "responsible lending and not unsuitable loans" to "real life suitable advice" and its here where I think "trained" brokers may have a major commercial advantage over retail due to a bigger choice of product and policy mix.

ta
rolf

 

[birchcorp]

The LOC is an overpriced expense to pay for something that you almost already have...the purpose of the loan is for an IP an is tax deductible. It is quite simple, 80% LVR, split the loans in your amounts desired, attach offset accounts and process the extras...to go back to your question your mate in this instance is very close.