Hi all,
I need a bit of a guidance in terms of my home loan and potential investment home loan for a new property. I know that i should be taking to a mortgage broker or an accountant, but i know many of you are financially savvy and may be able to offer some valuable advise.
I'm looking at switching my home loan provider to the one which will offer the best rate and an offset facility.
We have our savings kept in the offset account, and we are about 50k away from paying off our current home loan (i.e. borrowed home loan minus offset). Home valued at 600k.
We are also looking at purchasing an investment property (450k) with an estimated rental of 350 per week. I'm wondering what will be the best way to setup the investment loan, how much deposit to put down (from our offset) which will maximize our tax and other benefits. Should i refinance my home loan before we purchase the investment property or should i do it together? Also, is having two home loans under 1 bank a good idea?
Any advise is greatly appreciated.
Thanks
www.equityvision.com.au