Hi Richard,

Thanks for the heads up with the LMI increase. I have been looking around lately, hoping to buy my first IP after this financial year (the OTP is almost 2 years away still).

An extract from https://www.osr.qld.gov.au/duties/transfer-duty/exemptions-and-concessions/home-transfer-duty-concession-rates.shtml
“If you move in and then…[Read more]

Hi Terry,

The $25k will be from cumulated income over each 6months period. The main intent being, placing the income directly into the offset account to generate a saving at the mortgage rate rather than the lower interest rate of a savings account.

Taking money from the offset account doesn't equal 'redraw' whilst it is the PPOR…[Read more]

Hi Claire, thank you so much!

I was informed of this awhile back, but had been completely sidetracked by researching for FHOG only.

The $3k sounds like your boyfriend only had to pay back the difference of the grant? Did he have to pay back the difference of the stamp duty as well? I don't seem to be able to calculate which grant he received,…[Read more]

Hi Jamie,

Thanks for your quick response!

Point 3 still doesn't make too much sense to me mathematically.
Let's assume I put $0 down as an deposit vs putting down 50% as a deposit. Let's neglect LMI and the fact that there is probably no 100% loans.
If the property value decreases by 10%. The original loan amount remains the same? The repayments…[Read more]