Here is what I would do: For your IP your probably on a rate of about 7.85 based on my calculations. I would refinance that, taking a new loan for $256k (80% of current value) and adding $81k from your savings. You probably won’t be able to get a larger loan without mortgage insurance. I have seen rates as low as 6.59% recently, meaning your m…[Read more]

Or alternatively if you were to push both loans to 90% LVR you could extract 40K from the current property ((400 * 0.9) – 320), and then purchase another 400k property with a 40k deposit. This is assuming you are able to come up with the purchasing costs and LMI as well, which would be around 20-25k.I don't know your situation but if you haven't…[Read more]

Hi FineThanks,Before going any further I would recommend the book http://www.amazon.com/Aussie-Expat-Luckiest-Person-Earth/dp/9810575467. There are a number of tips which I found useful when moving back to Australia after living in Singapore.Ordinarily I would pay cash if buying to live in and then each time I bought an investment property create…[Read more]