Qlds007 wrote:
Option 3 Take out a 105% standalone loan with a 15% personal loan and 90% traditional loan.

Thanks for the help so far everyone, I'm keeping all options open. Wouldn't the above option not be possible because when you apply for a home loan you need to declare all debts? So if you can't use a loan to fund another loan? I thought…[Read more]

Benny wrote:
Since you have started saving a Deposit, keep on going.  Is it in an Offset account?  (I hope so).   If not, that one little change could make a big difference within 12 months.

I note that you are paying 6.65% – is that a rather high IO?  Or are you paying P&I?  If the latter, look at changing to IO and save the Principal…[Read more]

Hi Jamie,

Thanks for your reply.

Just a quick question with your plan though; When I move to my next residence would I then be able to claim the interest as a tax deduction or would I have to re-finance the loan? As I understand the deduction is based on the purpose of the loan, not the security so if the original purpose is a "place of…[Read more]