Hi Kellie, This can be done. More than happy to discuss details with you. Please feel free to contact me. Our mortgage broking advise and services are free and obligation free........Regards, Vishal
Hi Kellie, smart move and can help you achieve the best rates if the overhaul LVR is 80% - 90% starting from 3.86%PA. happy to have a chat and show you how it can be done.
Hi Kellie, Thanks for your question. You may segregate the properties provided their is adequate equity within them. If you borrow above 80% of the property value, then you're required to pay mortgage insurance on the borrowing. The amount of the premium will vary, but generally if borrowing over 90% the LMI premium doubles. In addition to increasing the debt on the investment loan to pay down debt on the owner occupied loan, generally this portion cannot be tax deductable as it did not relate to the investment purchase. My advice is to talk with your tax agent PRIOR to doing anything. Furthermore, i am a qualified financial planner and there're ways to reduce tax, increase wealth and reduce non deducible debt. I am based in Adelaide, however, have clients nationwide so I would be delighted to assist you with this and future planning. Please contact me via my HashChing profile and we can set up a conference over the phone to discuss your scenario in further detail. Kind regards Michael Zuppa @ Mortgage Broking Adelaide
Hi Kellie Before you think on refinance you should talk with you accountant if you would have any tax benefits or not. If you loan accounts are all up-to-speed, and your income including rental income is covering the loan and the loan assessment rate you should have no problem with a re-finance. However if you in WA you should, fill in the enquiry form on this web page and a broker close to you will contact you, this broker can organise a valuation of your properties to establish if the properties still have the value you expect. (if you from WA you will know the decline in property value we had / have since a couple of years. All the best
Hello Kellie, Look at all the help you are receiving from the network. Fantastic responses. I can help with your scenario. If you wish to have a discussion please click on the View profile and press contact me with your details. Hope to hear from you soon to go through your questions in detail. Kind Regards Owen
Hi Kellie, Yes this is quite a common occurrence and I am happy to help you. Please get in touch through my profile on Hashching. Cheers Jennifer Bachir
Hi Kellie, We can assist with this and can provide you with various structure options to provide asset protection and help with debt reduction. Please feel free to contact me by clicking on the "view profile" button and selecting "contact me". Cheers, Jordan
Hi Kellie, this is a fairly straightforward loan - we have access to lenders that can supply both loans at under 4%, click on my profile to contact me for more information
Hi Kellie Sure we can do this, so that your owner occupied debt is lower. I have a product where I can do the investment loan under the owner occupied rates, giving you a very competitive rate. The lender will bundle both properties together but keep the loans separate as inv loan and owner occupied loan . I am located in Braeside Victoria, please let me know if I can help you further. Cheers Osman Duman
Hi Kellie yes however would need to understand the lowering of your personal debt on your own home ,was the portion u want to reduce used for investment if so no problems. If it is to reduce the personal debt level on your home loan then that would not pass the taxation laws and suggest you get your accountant to advise you on that ..happy to discuss just check my reviews on website ..ch****cheers Geoff Blethyn
Hi Kellie. If you work or live around Sydney Northern Beaches/North Shore let me know. I would love to assist you with your finance needs. Odette
Hi Kellie, With the rats being very low at the moment this is the perfect time to do what you are asking. You can refinance both under separate applications which will keep the loans and properties attached to them separate as well. Increasing on the investment would depend on what the valuation comes back at. I would suggest viewing a profile of a broker and clicking on the get this rate button. This will mean that a broker gets your details and can call you to discuss the specifics of what you are looking to do and recommend a loan to suit.
Kellie. Thanks for your question. From the lenders perspective you could do what you are suggesting, however I would recommend you get som taxation advice first. The ' Tax Man' will allow tax deductions based on the purpose that the funds are borrowed for, if you are increasing you investment loan to pay off personal debt, this may not be tax deductible. When you are ready please select my profile and I can achieve Owner Occupied rates on both properties Regards Ken Olds
Hi Kellie, Thanks for your question. You can keep the properties separate as long as you have enough equity within the security properties. If you borrow above 80%, then you will pay mortgage insurance on the borrowing. Also if you increase the debt on the investment loan to pay down debt on the owner occupied loan, then this portion would not be tax deductable at tax time as it did not relate to the investment purchase. I would advise you to have a chat with your accountant in regards to this and you could potentially refinance & keep this portion separate from the other borrowing against the investment property. It then would makes things nice & easy at tax time. If you are in the Melbourne area, feel free to contact me via my HashChing profile and we can discuss your scenario in further detail. Kind regards Allan &@ Aisling Financial.
Hi Kellie, that is a great idea. We also believe that you shouldn't cross collateralise your properties. Depending on your equity we would look at having the most debt onthe investment loan. You may even wish to consider fixing some of it too of that suits your situation. Rates have been on the rise lately. All the best. Rose
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Yes. That should not be a problem. Have done similar for a client of mine. so please contact me via my profile page. Look forward to hearing from you. thank you