Thanks – Gumtree seems to be the go!

how did you charge for the metal, or were you just happy to have someonne take it away for free?

Thanks Wilko. A nice post with a helpful example! Your numbers weren't actually that far off!

Victoria. Plent of stamp duty here!

Thanks for that. .When you say price, is that the price of the house by itself, or inclusive of all costs and legals?

HI Richard,

Have done some further reading on your point and see the issue.

When set up, I didn't really have a long term investing plan, so it was really only set up with the PPOR in mind. Tax deductibility obviously isn't an issue if the PPOR is the only property involved.

I can see where the issues will be if an IP becomes invovled – although from my readings I could use the Equity Manager, it would just need *really* merticulous record keeping to record the portions used for private and investment purposes??

Sounds like keeping things seperate (Private/Investment) is the way to go though.. would the clean slate approach be best? Refinance with someone else, pay out the equity loan, cop the fees, but move on in a tax effective structure? – what would you suggest?

Cheers,

Thanks Richard,

Actually, the loan we currently have is a LOC, basically an equity redraw loan. Currently it's capped at $208K, but I guess we'd look to get that extended out a bit once the property is revalued. At the moment we just pay in our $5600 every month, but can redraw as needed – effectively an offset account.

So, from what you're saying, just need to get my structures right (ie: make sure I'm paying off PPOR rather than IP) and all will be sweet! Is a broker the best person to see about this, or do you think going back to the bank I have the loan with will make things easier?

Cheers!