Wow thanks so much to all for the help, this is why I really value this forum.Looks like our hands are tied for the time being until the fixed term of our PPOR is finished. Again thanks for all the responses.

Hi Tony B and Stargazer,Thanks for your reply, I do appreciate your point of view, and I need someone to say it as it is and pull me back to the real world, and I think I chose a bad time to want to get into the IP market.Having said that I do however feel that by just hanging around and putting my money into a savings account is not really taking…[Read more]

Yup, I understand now. Thanks again Richard, really appreciate your help!Cheers,

Thanks again Richard,Your responses are very helpful, I will keep researching furthur into this in order to see what sort of path we would like to take with our new loan. We are currently not with Westpac, but we just went into a westpac to ask about what our options are!Cheers. 

Wow…really??? I was not aware of being able to use the equity in the PPOR whilst it is on fixed interest rate. In fact I met a home finance manager from Westpac that told me that I couldnt do that at all. Instead she wanted to sign me up for a separate IO loan.Thanks for the info, im learning a lot about what options we have…Thats why I love…[Read more]

Thanks for you super quick reply Richard,The reason I do not want to tap into my equity atm is because we are at a great fixed interest rate of 6.95, great compared to todays rates anyway. I do however agree with you that once the fixed term is over then the way to go would be to refinance and put whatever our income is into an offset account.So…[Read more]

Thanks for that Richard,I think I really need to get a QS in to look at the property so i can determine how much depreciation i can claim, Thanks for your responses…much appreciated.

Hi Richard, Thanks for the response, you have a good point regarding not putting the 20K as a deposit. I am however struggling to determine if the PPOR atm would be +ve or -vely geared if I was to rent it out. Any help???Cheers,

Hi Rache,Here are Richard's details, Richard TaylorResidential & Commercial Finance Broker.Licensed Financial Planner. Ph: 07 3720 1888http://www.tayloredfinancialsolutions.com.au[email protected].hope that helps,Cheers