The original loan did have an offset account and money was going into their. Silly me made the mistake of increasing the repayments instead of keeping the money in the offset in the last 12months. I don’t know why I made that change, I just did.

Thanks Corey. When you word it like that, I guess it does sound stupid. Yes, I did organise a…[Read more]

Thanks Terryw, it would be Victoria.

Hi Sam,
I aim to do the same, buy/ renovate/ rent out and move onto the next one. This would be my first investment property also and a little nervous taking the plunge.
I have been browsing Geelong, Werribee, Hoppers Crossing and I like the idea of Melton due to prices, but I don’t know the good and bad areas.
I also noticed a unit in Preston…[Read more]

Any chance the article can be posted on here?

This is really hard to go through day to day things at the moment let alone think about the future……

For the time being, i will live in the house.

If I take out a Interest Only loan in my name and have an offset account attached to it- is this okay???

Then, when i am in a better head space, i can think about everything else eg; maybe…[Read more]

The house figure to buy my ex out has been agreed and I think my next step now is to get a home loan solely in my name.

Because I am not sure if I will rent it out or live in there, am I best to get an I.O loan?

My mum has generously offered to but her savings into my offset account (as she is currently taxed too much), provided I get a will…[Read more]

Thank you Tom.

I had a real estate agent come our last week who mentioned the house would be around $310-330k (which is less than i anticipated after googling around on realestate.com.au)
I have two more agents coming this week.

Brilliant link – thanks for sharing!

Sorry for my slow reply… I'm trying to keep the relationship but it's not going well ;-(

I do like the area to live and would be happy to live in the house after our relationship breakdown. We built the house 5years ago in Victoria – house title and Commonwealth loan (p&i) is in both our names. Home loan amount is at $205k and houses of…[Read more]

@ Jamie M; no deposit, but hoping we have equity in our house.

@ Shahin; Yes. Early last year, we received pre-approval from a bank, however the period lapsed and since then, our financial situation has changed. 

thank you

Hi Jamie,
My fiancé and I have been to a mortgage broker, however we are after another opinion as what we have been advised seems to be opposite to what I read in books or on this forum.
I have suggested to my partner that we can chat with a well know person on here who is interstate however my partner would like to meet the mortgage broker face…[Read more]

Our mortgage broker has advised that the IP loan must be in joint names as we do not have sufficient funds to borrow in one name only & that our PPOR will be used as security as we do not have enough funds. A letter came in the mail approving our IP loan application as follows: 1) A line of credit in both names for $40k    Security is our PPOR…[Read more]

@ Terryw = I hope we don't, but as my parents divorced years ago, I would like to protect myself for the unfortunate. I will keep a record for myself, thank you Terryw.

@ Terryw = Aww; this is becomming more and more complicated.

Very true Tarek about the agreement – thanks.

I actually just received an email from the broker to complete forms to go as Guarantor for Loan B – thanks Tarek.