Ive just gone through my figures and we are looking at selling our house that we now live in and moving into a rential property, after paying out all our loans and debt we will be left with around 30k in the hand. We have a 5 year fixed loan with the commonwealth and it is going to cost us 30k to break it, but we have to do this to get out of the position we are in. once we are in our rential we will be able to save more money and the 30k that we will have will go towards our 1st IP, does this sound stupid or a good idea?
These days it maybe cheaper to pay a loan than rent the same property.
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
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