Hi there,
I am planning to structure my home loan and keep my investment loan separate. Is this a good step forward of should I keep them together?
Any suggestions.
Cheers,
Not sure what you mean by apart. Do you mean seperate lenders or just no cross collaterised.
You definately should keep deductible loans and non deductible loans on seperate loan accounts. This can be as simple as a split loan or as seperate as different lenders.
I think I need some more specifics before I make suggestions.
Hi Mortgage Hunter,
What I mean by this, is no cross collateral between the home and investment loan.
Cheers.
You know that depends on your longer term plans. Many investors and brokers reckon xcoll is a terrible thing to be avoided at all costs. I think it depends on your plans. If you wish to extend yourself as far as possible then it may become an issue later on but it is nothing that can't be sorted.
If you just wish to hold 2-3 properties and can easily service the debt then don't sweat it.
You can borrow within a Pro Package and not xcoll the loans – having all loans fee free is handy.
So my answer in a nutshell – it depends.
Thanks for your suggestions. Something to be mindfull of.
Just gotta say….great reply Simon. Could not have put it better myself.
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