Hello all
i have just refinanced my 2 IPs to a better structed loan and a much better interest rate. I am happy with the loan i chose so the choice of me refinancing is not the issue.
However the previous loan has some exit fees added on top (understandable). this was explained as being a deferred establishment fee which over the 2 loans could end up being a few thousand dollars.
What i would like to know is if the taxman could use these as expences or offset it against my wage or anything really???
I will be behind for a little while but the loan should pay for itself sometime in '09. ( SHOULD. all depends on interest rates and the next IP i buy)Just a little background.
i have a total loan amount of around 320000 with 30000 redrawn as a deposit on #3. So paying the fees aren't the issue (although i would love to get away without paying them). im currently sitting at about 75% LVR. IPs are in Adelaide and #3 will prob be there aswell. New loan structured as splits with an available offset which sits at 80% LVR of the total so i have access to plenty of funds if that 'bargain' comes up or its a very very rainy day.any advice on being able to twist it to not be such a negative would be great
thanks in advance
DAVE
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