Thankyou all very much. It seems very clear to me now there is very little to no benefit in creating a new mortgage to obtain a cash back deal. In...
Sorry that I don't grasp financial concepts better/quicker. With a P&I loan for 700k, I would still have an offset account? Where that 700k would...
Apologies for not answering the question properly. And it is a good one. Because I've had to stop and think about it. I have tried to answer a few...
I have never had a standard loan with an offset account (only an IO). Does that mean if I borrowed say 700k. And kept 700k in the offset account....
Well, now you're inviting me off topic :) Just as well it's my own thread. I'll do you the courtesy of trying to answer that fully. Looking...
It does not have to be an IO. And I will not now be negative gearing it as a rental property. I just like using my cash to offset home loan...
Apologies for coming on here looking for advice, when I don't spend any time here helping others. I bought what was to be an investment property...
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