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  • Profile photo of MissmollyMissmolly
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    @missmolly
    Join Date: 2008
    Post Count: 5
    March 3, 2008 - 3:44 am

    Scott No Mates – thanks you your input – i wouldn't have thought there would be a "set" monthly repayment given it was variable and not fixed interest only – am I thinking through this concept wrong.

    I know if I did't have anything in the offset account then a figure based on the current interest rate would be payable, but if I continue to inject funds into the offset account, then the repayment figures would move depending on how much was in the offset account

    MM

    Profile photo of MissmollyMissmolly
    Member
    @missmolly
    Join Date: 2008
    Post Count: 5
    March 3, 2008 - 2:06 am

    Thank you  Terry and Richard for your input, as this is the first purchase for me I still need to do a little more reading so I can get my head around what I am trying to achieve.

    Am I  correct in thinking if I move more funds into the offset account on a monthly basis that the interest payments would reduce for that month? –

    MM

    Profile photo of MissmollyMissmolly
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    @missmolly
    Join Date: 2008
    Post Count: 5
    February 20, 2008 - 5:39 am

    Hi All

    Just new this to post and are finding the posts really interesting.  I am very "green" at investing and think its time that I started.

    My question is, I am currently in NSW, earning an average income of $100k and have approx $55k in the bank with no debts or unfortunately other assets.   Should I be looking at buying an apartment here in Sydney (which I would prefer not to as I think they are over priced) or with the small amount of money I have is it possible to venture into the investment property market

    I haven't seen a financial advisor and properly should  – if any one can recommend someone in Sydney CBD I would be hugely grateful.

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