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Thanks for spelling out a few of the options so basically. Yep! should have definitely done the offset option, we were young and didn't know any better. And learnt that getting advice may not actually get you anywhere different, but that it may end up costing you a lot in the process!
I think we really need to look into the family trust option to some degree as one income earner is on the higest tax rate and we need to look at options to reduce tax etc. There has got to be a better way than what we are doing!
Really appreciate the replies. Will read again and consider much more and work out the next steps.
Thanks for sharing your knowledge.
Extra cash was put in to reduce the actual investment mortgage – so we paid well over and above what we needed to.
It also looks like when we financed the new purchase principal place of residence that the investment property was reconfigured to lower the amount of the loan therefore it seems we no longer have access to the equity within it. Not that it is probably that simple due to tax considerations anyway.
Thanks.
