Hi Terry,
                     Thank you so much for your reply !!! I bought my current PPOR for $ 350k with a 20% deposit  the remaining loan balance is now matched with the offset balance. The current value of the property is about 400k. The rental for similar next door unit is 1600 pcm. I have since last year managed to save about 80k which I…[Read more]

Qlds007 wrote:
AshYes thought it sounded like a Homeside loan.If the net balance is $50k then the monthly interest repayment is $50,000 x 7% / 365 x the number of days in each month.Yes some lenders have a pecular offset account where the repayment stays the same and the loan balance goes up and down. Not ideal when you intend to rent the…[Read more]

HI everyone ..thanks for the replies… @ catalyst I would be selling one of my overseas property hence sure of getting a large lump sum…
@ richard thanks for the reply … I`m going for a loan with NAB interest only , wanted to go for 10 years however could only qualify for 5 years, and the Broker said after 5 years I can just fill in a simple…[Read more]

HI … A silly question … if I take out  a 300k loan IO … 100k deposit… and put 200k in offset account.. will tehre still be Monthly payment to pay or because  principal balance and offset balance is same it mean no monthly payments ?

HI Nathan … How are you ? First of all let me tell you my mums become a Big fan of yours after I showed her this forum. , .. and has started to bend towards getting a IO loan instead of a full P and I …. your example explains things very clearly thanks for that…

Could you explain me as well that the interest only loan that I can find are 7…[Read more]

HI JacM .. thanks for the reply … can I request you to Simplify with an example How a P & I loan and and IO loan have the SAME end results and how youre always better off with a IO loan …? Also what woudl happen if I took out all the money from the offset account what effect would that have on the Loan ?And lastly , the interest only loan that…[Read more]

lol… terry youre right , Youre right here as well.. I started two posts cause I dint know where exactly my situation fits…

HI people… thanks for all your replies… you all have been awesome…  Could someone please let me know why woud a IO loan be better than P+I as I woudl ike to hold the property for as long as possible.. @Terry , I really want to do what you say in relation to free up as much cash I can for my PPOR.. However My Mum is Adamant on getting a…[Read more]

HI guys thanks for still looking after me… @hbbehrendorff , I would really want to buy a 2bdr unit  not far from cbd… I am currently getting one like 15k from the city  for 200k… which I think is a good deal ,  what do you guys think ,as if I do go ahead with buying it , how much loan and how much deposit should I put… ? Also I dont kno…[Read more]

HI guys thank you so much for replying back … I really appreciate your help and guidance… I spoke to my Mum , and she still wants me to borrow  as less i can for my first house or just buy it outright so that we are not paying a lot of interest  to the bank .. But what I want to do is buy a small unit  a 2bdr around 250k, with 100k dep…[Read more]

HI guys thank you so much for replying back … I really appreciate your help and guidance… I spoke to my Mum , and she still wants me to borrow  as less i can for my first house or just buy it outright so that we are not paying a lot of interest  to the bank .. But what I want to do is buy a small unit  a 2bdr around 250k, with 100k dep…[Read more]