All Topics / Finance / Limits with offset account

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  • Profile photo of wade anthonywade anthony
    Participant
    @wade-anthony
    Join Date: 2007
    Post Count: 53
    February 23, 2012 - 7:22 am

    Hi

    Looking to change my loan type for my ip, atm it is variable pi type loan. Just wondering are offset loans any good for ip's or not. (I have one for my ppor).

    – Should I just go to a io loan?
    – Does a offset loan have any restrictions ie. you can't have a loc with an offset loan?
    – Is there any restrictions using equity built up in the property with a offset loan?

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    February 23, 2012 - 8:02 am

    Hi Wade

    No real point in having an offset set-up against an IP when you have a PPOR.

    A simple IO loan should do the trick.

    Keep the offset against your PPOR.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

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