Best way to finance renovation on PPR

Discussion in 'Loans & Mortgage Brokers' started by wannabe, 13th Jan, 2021.

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  1. wannabe

    wannabe Member

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    3rd Feb, 2017
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    We are planning some substantial renovations on our PPR.

    We have sufficient money in our offset to cover the loan. Is the best way to use the offset?
     
    wannabe, 13th Jan, 2021
    #1
  2. Trainee

    Trainee Well-Known Member

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    dont understand what this means.
     
    Trainee, 13th Jan, 2021
    #2
  3. Lindsay_W

    Lindsay_W Well-Known Member

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    Maybe better than getting further non-deductible debt, can't say for sure as don't know your whole circumstance/future plans for the property (eg. will it become investment one day)
     
    Lindsay_W, 13th Jan, 2021
    #3
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Borrow at owner occ rates
    then loan shuffle or debt recycle to get OO rates on investments.
     
    Terry_w, 13th Jan, 2021
    #4