Forum Replies Created

Viewing 3 posts - 1 through 3 (of 3 total)
  • Profile photo of gaurav66gaurav66
    Member
    @gaurav66
    Join Date: 2011
    Post Count: 4
    July 21, 2011 - 5:49 am

    Thanks heaps Terryw !

    Profile photo of gaurav66gaurav66
    Member
    @gaurav66
    Join Date: 2011
    Post Count: 4
    July 21, 2011 - 5:42 am

    Thanks Terryw,

    What is IO loan with a 100% offset, can the current loan be converted into one.The current loan is variable home loan premium. I can do one thing i can first buy the land and then after 2 years build the new home with new loan.
    Regards,
    -Gaurav

    Profile photo of gaurav66gaurav66
    Member
    @gaurav66
    Join Date: 2011
    Post Count: 4
    July 21, 2011 - 5:19 am

    Thanks Terryw & Elea!

    The question is how should i go about the loan?.

    I have current home loan with westpac which i have almost paid off. Now i need a bigger home which i intend to build which is going to cost me 450k. The current primary loan i can top-up to 200k, however i think i need to create another investment loan!

    The scenario is i want to build my second home from some loan (either existing load or new loan) then move out of my current primary home to new home; having said that i want to rent out my first home say $250-280/week; Now how do i claim tax returns on Interest, etc and moreover how will the loan be called and on which house should the loan be????

    I checked with the westpac the manager said she can arrage the loan however i want? top-up on exsisting, new load etc..

    Please guide me as the case is not straight forward, i have to move to a bigger house which will be a new home, and rent out the old(current) house; while not loosing on tax returns…
    Kind Regards.
    -Gaurav

Viewing 3 posts - 1 through 3 (of 3 total)