I’ve always liked to fix so I can sleep easy at night aswell… How ever as I am starting to learn more about investing and the benefits of offset accounts and minimising interest etc I have recently found that my 3 year fixed rate has actually been of negative affect to me.

The reason for this is that I am unable to attach an offset account to…[Read more]

Benny,

I didn’t even get an exact ammount mate. I fell over just at the estimated amount. They told me that they can give me an exact payout figure how ever it is worked out off of a complex equation apparently.

With the estimate alone I was sure that I don’t have enough cash savings to make it worth my while to break the loan and restructure to…[Read more]

Thank you Benny and Terry,

your suggestions are great.
i have looked into it and at the moment it won’t be worth me “breaking” the Loan.
Apparently i will be eligible for an offset account in 12 months, rather than 2 years, as i an get offset attached as long as fixed interest period is no longer than 12 months.

once again appreciate your thoughts.

Hi terry,

Yes is fixed, please see my most recent comment (we must have been typing at same time haha)

Cheers dtrain,

Ideally we would like to set up an offset account however before I started educating myself I locked my interest rate for 3 years (still 2 years remaining) which I have found out means that the package we have won’t allow an offset account while the interest rate is fixed.

So more so looking at advice for the next 2 years until we…[Read more]

Thanks for the input fellas… I think your right.. Regardless of the short term movements in market, history as shown that over long term investment property has always grown in value. I think I will continue to stick to my goals and get into the market as soon as my situation and finances allow me. Even if times get tuff I will strive to find a…[Read more]

Thanks Richard,

This is the type of advice I’m willing to learn from. Not sure how much detail I am supposed to put on here in terms of my financial situation but it seems everyone is here to help.

My situation is I had a really good Morgage broker, who has recently left that side of his business to his 2IC which I don’t have as much faith…[Read more]

Thank you all. Yes I should have been more clear, as it is our own home our accessible equity is only around $20k without refinancing for more than 80% of the value of our home.

So due to this and the $18k finance on the the car we are probably looking at 12 – 24 months before being in a position.

Our goal in that time is to pay off the car debt…[Read more]

Thank you all. Yes I should have been more clear, as it is our own home our accessible equity is only around $20k without refinancing for more than 80% of the value of our loan.

So due to this and the $18k finance on the the car we are probably looking at 12 – 24 months before being in a position.

Our goal in that time is to pay off the car debt…[Read more]

Cheers fellas,

Yes I agree I feel lucky to have found this forum,

Turns out we are probably 12 – 18 months away from a position to get into the investment market. I’d prefer to have found this out now and gives me time to do my research.

Thank you all once again

Cheers for the advice Jamie,

Booked an appointment with my mortgage broker tonight. Seems like he and his accountant are more into doing things through SMSF’s tho.

I don’t really want to lock everything into super. If prefer to make it happen out here in the real world

Thank you Corey,
Appreciate your time and advice. Basically I am still at the initial stage of gaining as much information as I want.
My long term goal is to pay my Morgage off ASAP and have at least 2 investment properties.
Short term goal is to learn how to set myself up with an investment property that I can then uses to minimise my tax and…[Read more]

Thank you Corey,
Appreciate your time and advice. Basically I am still at the initial stage of gaining as much information as I want.
My long term goal is to pay my Morgage off ASAP and have at least 2 investment properties.
Short term goal is to learn how to set myself up with an investment property that I can then uses to minimise my tax and…[Read more]

Thank you Corey,
Appreciate your time and advice. Basically I am still at the initial stage of gaining as much information as I want.
My long term goal is to pay my Morgage off ASAP and have at least 2 investment properties.
Short term goal is to learn how to set myself up with an investment property that I can then uses to minimise my tax and…[Read more]

Thank you Corey,
Appreciate your time and advice. Basically I am still at the obnoxious stage of gaining as much information as I want.
My long term goal is to pay my Morgage off ASAP and have at least 2 investment properties.
Short term goal is to learn how to set myself up with an investment property that I can then uses to minimise my tax and…[Read more]