Hi,
I built a home that was completed 4 months ago and borrowed 90%, it's negative geared and I have gone from a high income earner to alot lower income that I was on (or used to).
I am now unsure if I should look at fixing the mortgage to restrict any more bad surprises or leave it. I start a new job in a couple of weeks and once I have settled in I would like to have my portfolio assessed to get a basic idea of my options to free up my cash flow and keep investing.
Any bit of advice or contacts would be appreciated
J
What you might like to look into is splitting the mortgage up
As an example
10% Variable – this allows you to make extra repayments
30% fixed for 1 year
30% fixed for 2 years
30% fixed for 3 years
This allows you in one years time to fix 30% for one year , two years, three years or have it variable
in two years time you can fix 30% for one year, two years, three years or have it variable.
or
10% Variable – this allows you to make extra repayments
30% fixed for 2 year
30% fixed for 3 years
30% fixed for 4 yearsAre you claiming building costs as depreciation? as it could improve your cash flow !
Thanks Duckster,
I do claim the depreciation, your other suggestions are excellent ideas and will be pursuing them
Thank you
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