All Topics / Help Needed! / Advice Please
I have 2 properties worth approx $700000. Both titles are held as security. I owe $440000. Would it be possible to separate the titles and convert onewhich I am going to live in to P&I and pay off say $130000 and the duplex to Interest only and pay $300000. Can anyone see a problem with this?
Hi Furnz,
Splitting the loan would not be a problem given the amount of equity you have. You need advice from a good accountant re making sure you legally maximise the percentage of the debt that is aplied to your IP. I’m happy to refer you to a great accountant if you need one.
Regards
AlistairAlistair,
I would appreciate it if you recommended me a good accountant. I am in Newcastle but Sydney is not a problem.Thanks
Where in Newcastle are you? I am in New Lambton.
If you ever find yourself nearby give me a call and pop in for a coffee!
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
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