I'm interested aswell i live in the Shire.

Qlds007 wrote:
Hi again BlissyFirstly congrats on the news of your new arrival.From those numbers i think your equity is fairly limited so might be a matter of using some of your cash / managed funds and looking at a 90-95% lvr.Not cheap when it comes to the associated costs but gets you miving forward.i am assuming you havent considered buy a…[Read more]

Hi all,This is my fist post for a while but i have been a active reader whist I have been working on changing my IP loan to interest only with a 100% offset account.I can happily say that it is now finalised and im now on IO with 100% offset with St George.My IP in South Penrith is worth  $290k – $300kIP loan b…[Read more]

Here is a new development happening in Penrith straight across the road from Penrith Stadium http://penrith-press.whereilive.com.au/news/story/450m-breath-of-life/This will be massive for Penrith its worth an estimated $450 million the vacant block of land is huge.There are also plans for a giant in land beach at a massive new development at…[Read more]

In Dec 09 i purchased a property in South Penrith for $288,000 and St George valued it at $290,000 so i was happy with that.

Great news, Thanks Dan.

Thanks for the info i'll give St George a call today.I have another question what happens when all the interest is paid? does it revert straight to paying the principle?

Thanks for the detailed reply Terry, I really need to change to an IO loan ASAP, Do you think it is worth changing to IO with St George who my current PI loan is with given that i recieved this reply earlier?

Qlds007 wrote:
Secondly given that the loan was mortgage insured originally you would probably want to consider a separate lender to as st…[Read more]

Thanks for the advice everyone its very helpful.

Qlds007 wrote:
Hi BlissyYes there is a big difference between a redraw and an offset account as it all boils down to eligibility of the deductability of the interest. An offset account achieves the same goal however keeps things nice and clean when it comes to deductability.Probably need to…[Read more]

Hi Richard,My home loan is with St George and is an interest only loan.I have a redraw account linked to the homeloan account all of my money (pay and rental income) go straight into this account and this works against the interest is this the same as an offset account??? or should I refinance and get a 100% offset account?I thought that re…[Read more]

Hey Guys,I have another question to add to my never ending list this one is about depreciaition.If i get a depreciaition schedule done now and in the future i renovate the house ie new kitchen do i need to get another depreciation shedule done or do i just need to keep the paper work for the renovations with the exsisting report for my accountant…[Read more]

Hi Lalibella, Yes the property is working well and i do intend on getting a depreciation report but i was waiting for a few minor improvements to be done boefore i get the shedule completed is that the right move or should i get the depreciation schedule done ASAP?There is no other debt between myself and my fiancee other than my IP loan, no…[Read more]