W
WebBoard
Guest
From: Mathew Poxon
Hi all (and Rolf!)
This is probably straight forward but I need it spelled out to me.
Scenario:
Say I buy a property worth 280k which is PPOR. I have 150K cash to put into the property. However I'm able to generate an income trading shares and would like access to some equity to do so. What I'd really like to know is can I LEAVE my 150K cash in my PPOR mortgage (to reduce the non-tax deductible repayments on PPOR) and get a loan or line of credit for say 100k to trade with? (Interest should be tax deductible I think). Note that I DONT want a portfolio of shares which can act as their own security. I want to trade actively short term and thus the loan would be more "at risk". (I'm confident of trading successfully!) In a way its the same as asking can I leave my 150K in my PPOR mortgage and get a loan for say 100K to have a great big party? (Not that I would but you get the idea of a non-secure purpose for the loan).
Is this clear? Hope so.
Answers GREATLY appreciated as hoping to buy said house ASAP.
Cheers,
Matthew.
"Pithy saying still in the making".
Hi all (and Rolf!)
This is probably straight forward but I need it spelled out to me.
Scenario:
Say I buy a property worth 280k which is PPOR. I have 150K cash to put into the property. However I'm able to generate an income trading shares and would like access to some equity to do so. What I'd really like to know is can I LEAVE my 150K cash in my PPOR mortgage (to reduce the non-tax deductible repayments on PPOR) and get a loan or line of credit for say 100k to trade with? (Interest should be tax deductible I think). Note that I DONT want a portfolio of shares which can act as their own security. I want to trade actively short term and thus the loan would be more "at risk". (I'm confident of trading successfully!) In a way its the same as asking can I leave my 150K in my PPOR mortgage and get a loan for say 100K to have a great big party? (Not that I would but you get the idea of a non-secure purpose for the loan).
Is this clear? Hope so.
Answers GREATLY appreciated as hoping to buy said house ASAP.
Cheers,
Matthew.
"Pithy saying still in the making".
Last edited by a moderator: