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  • Profile photo of PotoPoto
    Member
    @poto
    Join Date: 2009
    Post Count: 3
    March 18, 2009 - 8:30 am

    Thanks for the response

    I am tossing up whether to go P + I whilst I live in the property, then going Interest only. Or possibly Interest only from the start. Interested in knowing opions of each direction

    Profile photo of PotoPoto
    Member
    @poto
    Join Date: 2009
    Post Count: 3
    March 16, 2009 - 7:27 am

    I too am considering the original posters Idea. I wanna take advantage of the grant for 6 months then make the property an IP. I  will have to live in another town by then and probably rent initially before looking for a PPOR to buy.

    Regarding loans, I have spoken to the bank about going P + I initially
    then converting to Interest only. I thought it might be a requirement of the fhog too.

    Any thoughts on just getting an Interest only from the get go?

    Property I am looking at will probably cost 300-320K and could rent for 300-320 pw

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