Thanks Jamie!

So you don't get the full $5k as a deduction, only the benefits of dropping your taxable income by that amount.

Thanks Derek! Much appreciated.

Can anyone recommend a reputable, switched on Mortgage Broker in Perth??

How should i have best financed the deposit Qlds007?

CBA financed it, like I said more info had to be provided, but it came through eventually. It was a land & construction loan, if that makes any difference.

Thanks Qlds007!

I will certainly look into interest only. Is coupling that with a 100% offset common or do only select banks offer this? Also, would you keep the loans all independent of one another or consolidate the IP loans (if that is possible)?

For my IP i applied for a new loan, with a separate lender to my PPOR. I had to put down a 5% deposit, and the bank lent me 95% (I found that surprising as an immense number of posts on here said that most banks would loan a 70% maximum to NRAS dwellings. It did take them slightly longer to approve and they did ask for additional information, but it all went through). But this loan does not currently have an offset attached.

As I asked PLC, would you look at principal and interest once you had a longer term PPOR? And do you see pros/cons in consolidating my loans with a single institution?

Cheers!

Thanks PLC!

I will look into changing to interest only on the PPOR, makes sense if I believe I'll be moving on in the next year or two.

Would you keep all of your IP loans as separate loans and interest only? Also, once I settle on a longer term PPOR would you take that loan out principal and interest?

I was looking at consolidating my loans with the same institution. Even if they are separate loans, at least they'll all be with the same bank and easier to manage, I may also be able to negotiate a better deal. Instead of having them spread across multiple institutions, would you recommend this?