denny500 replied to the topic Using equity to invest of buy another IP in the forum Finance 15 years ago
Qlds007 wrote:
Wow denny 6.21% is a shocking rate of interest even with the loan amount you currently have.yes, I know. I meant, before discount.Is there any broker from Melbourne CBD?
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denny500 replied to the topic Using equity to invest of buy another IP in the forum Finance 15 years ago
Terryw wrote:
It is called the equity access loanhttp://westpac.com.au/internet/publish.nsf/Content/PBHLRF+Home+Loans+Fees+and+ChargesThanks Terryw. If I setup a seperate loan for the invertment, will I pay the interest rate as LOC or the same as home loan?Currently the home loan is 6.06% and LOC is 6.21%, a 0.15% difference.
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denny500 replied to the topic Using equity to invest of buy another IP in the forum Finance 15 years ago
Terryw wrote:
Also you don't really need a LOC, you could just have another separate loan for the new portion. make sure it is IO though. ANd, yes Westpac for have one too. If you are borrowing to invest, then the interest should be deductible on this borrowing. It doesn't matter what the security is.Thanks Richard and Terry. I didn't find the…[Read more]
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