Just wondering if any one has done this before and if it helped… i have a investment property in nz and live in Aus.
The only trouble is the rent wont cover the extra money on the loan if i do this so i will have to send $$ over to nz hmmm just wondering if its all worth it……..Or maybe i should sell it …dont really want too but maybe better off in the long term i could save $170,000 in interest on ppor if i sell….. hmmmm such decisions any info or feedback would be great thanksYou are only increasing one loan to pay down another. Normally it would not be of any help, with claimable interest being the same, but since your property is in NZ, I am not sure of the tax rules – although you are probably paying tax on it here.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
yes maybe it isnt such a good idea ….when you say it like that it doesnt really make sense does it hmmm….financially we are handling it all well …..but after you do research and see how much interest you pay on a ppor it makes ya cry we pay 1,300 a month just in interest alone and if rates go up it will be heaps more money down the drain…i guess its a question of do i sell or dont i.
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