person img
verified icon broker img

Dean

5 months ago

Hi Dave. You can certainly restructure your debt. We would need to consider the interest rates available as investment loan rates are generally higher, but I'm sure overall we would be able to find you an excellent deal as there are some very competitive interest rates out there at the moment. As others have said, you should speak with an accountant regarding the tax deductibility of interest as normally you need to have used the funds for an investment to allow deductions against that investment. I used to be head of home loan sales for Commonwealth Bank nationally, as well as head of home loans at Bankwest, so I know how to negotiate with the lenders to get you a great rate (because I used to set them). If you'd like me to come and see you later today, just let me know - I'm available (or we can have a chat on the phone now. Just message me through here.

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
verified icon broker img

Milan

5 months ago

Hi Dave, hope you're well. Note structuring of your loan is entirely up to you. Especially when it comes to refinancing with that much equity. However, the best practice would be to consult your accountants regarding what would allow you to claim as an investment. This can be arranged into splitting the loan into more than one account with regards to your consolidation of home debt. Hence please feel free to inquire within my profile by clicking on my name or photo to inquire further if you wish. I can provide you with some really competitive lender offers. Any questions please let me know. Kind regards, Milan

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
verified icon broker img

Lee

5 months ago

Hi Dave, thanks for your enquiry. Assuming a sufficient servicing capacity, you could generally structure the loan however you wish (subject to lender approval) BUT please confirm with a licensed tax accountant, about your eligibility to claim a tax deduction for the interest on the 140k portion. Allowable interest deductions are largely dependent on the purpose/use of the borrowed funds. Happy to assist with your finance needs if you haven't already taken the next step. Regards, Lee Boserio.

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
broker img

Vanessa

5 months ago

Hi Dave, Thank you for your query. We can restructure your portfolio in line with your goals. Accessing an equity to consolidate your loan is viable. As it’s only 78.8% LVR, we can easily cash out that equity to pay off the smaller loan for as long as it's within your borrowing capacity. Dave, kindly contact me though my profile so that we can chat as soon as possible, Warmest regards, Vanessa :)

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
broker img

Junmin (Eric)

5 months ago

hi Dave, to get $1.3 mil loan, the investment is $1.65mil, LVR 78.8%, which is not too bad. the main things here are your borrowing ability ( serviceability) and the bank valuation.

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
broker img

Victoria

5 months ago

Hi Dave, Any questions re negative gearing are best discussed with your accountant. As brokers we can then structure a loan any way an accountant advises based on your circumstances (so long as you can service the loan and fit lender policy). Feel free to contact me through my profile if you would like to chat further. Kind regards, Victoria

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
verified icon broker img

Glenn

5 months ago

Hi Dave, I hope you’re well and thanks for your questions? I suggest to get in contact with a senior mortgage broker through their profile link and get them to assist you in answering all of your questions and to look at the whole picture to enable a suitable structure, lender and product? I have access to over 40 lenders and each lender has different lending policies and products. If you need my help, please click on my link to my profile and I can get in touch to go through all of your questions and provide answers and a solution for your needs? I deal with clients from th basic to complex but they are all treated he same and with the utmost importance to get the end result they require. With over 20 years in the banking and property sectors, I’m sure if you need my help, I can assist with your situation and goals? I look forward to hearing from you & if I don’t hear from you, all the best with your journey? Kindest Regards Glenn

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
verified icon broker img

Peter

5 months ago

Hi Dave, thanks for your question. We can help refinance all your loans to another lender and restructure your loan based on your purpose and tax benefits. To know whether you can borrow another $1.3 million, please feel free to contact me through my profile. thanks.

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
verified icon broker img

Daxa

5 months ago

Hello Dave, Best to sit down and have a look at your whole situation and circumstances and set up a plan to see how we can help you. Give us a ring and happy to sit down with you to look at all the options.

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
verified icon broker img

Sunyu

5 months ago

Hi, Dave, you can restructure your loan through refinancing your all loans to another lender and redo the figures for each loan amount and reallocate the figures based on your tax needs as you redraw the money from your home loan for your investment property. Feel free to contact me and we can work out the solution for you.

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel

New home loans from 3.49%

Find out more