Jamie M wrote:
Or just set it-up as a second IO split on the variable product. If it's set-up as a second facility you'll be able to easliy identify the deductable debt from the non-deductable.

Thanks Jamie. Yeah, I found out from my bank and I am actually able to set up a separate account for the new IP mortgage. Cheers.

Terryw wrote:
If you deposit money from a loan into a savings account it is no longer borrowed money, so you may not be able to claim the interest at all. Also sounds like you are just increasing a loan which can be dangerous if you are mixing a home loan with an investment.For this reason I would suggest a LOC.

Thanks for your reply Terry.…[Read more]