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  • Profile photo of melvin257melvin257
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    @melvin257
    Join Date: 2011
    Post Count: 6
    February 6, 2012 - 9:56 pm

    Richard,

    Thanks mate, I ahve sent you an email, would greatly appreciate your help on this one.

    Regards,

    Melv.

    Profile photo of melvin257melvin257
    Participant
    @melvin257
    Join Date: 2011
    Post Count: 6
    February 6, 2012 - 5:41 am

    Thanks Richard,

    I do not have a non deductible debt on PPOR. I am hoping to go through NAB.

    With what I ahve understood.

    I will split the 40k to use as deposit to the new IP.

    So the future state will be

    As normal – PPOR has offset
    IP has only Investment deducible loan.

    In any which ways, what would be the best option to pay bills on IP ? Can I pay bills directly through my savings ? or should it go through the split account and get paid from there /

    Thanks for your help.

    Regards,

    Melvin.

    Profile photo of melvin257melvin257
    Participant
    @melvin257
    Join Date: 2011
    Post Count: 6
    February 6, 2012 - 4:29 am

    Anthoer question guys, whats the best way to pay bills on an investment property ? WOuld paying bills from Offset account be the correct way, or deposit funds in the split account created and then pay any bills on an IP ?

    Regards,

    Melvin

    Profile photo of melvin257melvin257
    Participant
    @melvin257
    Join Date: 2011
    Post Count: 6
    February 6, 2012 - 4:25 am

    Thanks guys,

    Jamie,

    Current Value of the PPOR would be about 450k, But I ahve a loan limit of about 400k. balance on the loan is about 360k. The sceario above is for an IP.

    Qlds007,

    If I split the account and deposit the 40k in a new account is gr8 idea. However as I have an offset account, by me depositing funds in the future in the offset account, would that reduce interest in the new IP account just created ? or would it only offset the PPOR loan account ?

    Thanks guys, much appreciated.

    Regards,

    Melvin.

    Profile photo of melvin257melvin257
    Participant
    @melvin257
    Join Date: 2011
    Post Count: 6
    February 6, 2012 - 12:08 am

    Hi All,

    I have a PPOR property and i don't believe with the current market I have any substantial equity on the PPOR. However I have around 40k in my redraw. I have an interest only loan with offset account in my PPOR

    Scenario

    Investment loan (House & Land) $ 416k
    Deposit Paid – $13200
    Current Deposit saved $ 40k.

    What would be the best structure I should look at for Investment Loan which would make it easier to diffrentiate with tax deductibe loan and non tax deductible loan. I am new to this and would really appreciate anyone's help / advise.

    Thanking all in advance
    Regards,

    Melvin.

Viewing 5 posts - 1 through 5 (of 5 total)