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  • Profile photo of kochy1983kochy1983
    Participant
    @kochy1983
    Join Date: 2013
    Post Count: 25
    March 18, 2013 - 7:34 am

    Hi Tim, 

    Yes true, I think we worked out for us to sell with our real estate they would be about $7,000 each.

    They are in mount gambier, SA

    cheers

    kirsty

    Profile photo of kochy1983kochy1983
    Participant
    @kochy1983
    Join Date: 2013
    Post Count: 25
    March 18, 2013 - 7:31 am

    Hi Derek

    originally when I applied for the loan a year ago I was told by the bank I could only do P&I but probably worth asking again. 

    Here is a bit more info for you. Really appreciate your input

    House 1 (worth $170,000, Owe $175,000 on the loan)

    Repayments $1200 per month P&I

    Rent $700 per month return

    Rates $70 per month

    Strata $60 per month

    Insurance $80 per month

    Water $50 per month

    House 2 (worth $145,000, owe about $115,000 on the loan)

    Rent $580 per month

    Rates $70 per month

    Strata $30 per month

    Water $50 per month

    No insurance

    We have no intention of moving back to the town.

    cheers

    kirsty

    Profile photo of kochy1983kochy1983
    Participant
    @kochy1983
    Join Date: 2013
    Post Count: 25
    March 18, 2013 - 12:26 am

    Hi Derek,

    Thank you for your reply. At present they are both P&I, I have heard due to the huge LVR on my loan I am unable to switch to Interest only, I believe it has to be less than 90%. But I would think it would be a possibility for my partners loan.

    Kirsty

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