Is the property in a growth area? Do you think there are any indications of it going up in value over the long term? 

If the property isn't costing you anything to hold on to and you think it will continue to grow in value, then I'd consider holding onto it. I'd also revisit the need to spend $25k on external works – seems like a lot. Is it all completely necessary?

Cheers

Jamie

One offset is included for free under b/free package. Additional offsets are $10 per month.

Cheers

Jamie

Yep – it's the daily interest calculations and fluctuations in the number of days in the month that will cause variations in your monthly repayments. That's why Feb repayments are usually lower than other months.

Cheers

Jamie

I can't see how it would – it's a private agreement between a family member that you're not profiting on. Ask your accountant.

Cheers

Jamie

Hi Sinders

Not a legal eagle (Terry W will probably advise) but I assume you can have something written up by a solicitor.

If the funds are being used by your son to secure a property, the lender may request that you sign a letter or stat dec declaring that the funds are non repayable – may or may not come into play here but thought it was worth mentioning.

Cheers

Jamie

Hi Pagey

I don't like the sound of it – 6 x 95% non-gen loans. I personally can't see it happening.

Cheers

Jamie

I've never tried but would assume they'd have to be in the mortgage holders name.

Cheers

Jamie

I remember a post ages ago about a software program that audits bank statements for this sort of stuff. If you do a search you may be able to find it.

Cheers

Jamie

Hi Munz

At least you won't make the mistake again. Just ensure the next loan is IO with an offset – park all of your spare cash in the offset and don't pay down the principle.

Cheers

Jamie

Not sure about the flooding aspect but I had an eye on the area a few years back and it doesn't look like there's been a move in prices since then.

Cheers

Jamie