Hi,

Thanks for all your replies they greatly help a newbie investor like me.

In regard to the FOHG I checked I am entitled to it if I move into the property within 12 months of contract settlement. However I am unsure on whether I have to pay stamp duty initially (as it will contain a tenant for the first few months) and get it refunded when I move in? Or do I not have to pay any stamp duty period as long as I move in within 12 months. This is not clear on the NSW OSR website.

Secondly the unit I’m looking to purchase is in postcode 2000 or 2011 i.e. inner city and its 27sqm.

The best deal I can find is 80% LVR with a interest rate 0.5% off the standard variable with Colonial. I also have another one with 95% LVR but will have to pay mortgage insurance and its at the standard variable.

I currently do not have enough cash for a deposit and am thinking of taking the 80% LVR loan and suppliment the deposit with a drawdown on my margin loan. This works out cheaper as I do not have to pay mortgage insurance.

Would appreciate if someone knows a better financing option or comments would also be great. Thanks!