Paying for spruce up

Discussion in 'Loans & Mortgage Brokers' started by Amaroo, 1st May, 2016.

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  1. Amaroo

    Amaroo Member

    Joined:
    18th Jun, 2015
    Posts:
    16
    Location:
    Sydney
    We have no personal debt and have put an offer on our 4th and maybe final IP. It needs re-carpeting and re-painting of the three kaleidoscope-coloured bedrooms.
    Do we use our offset money (attached to an investment loan) for this to start addressing some debt; or should we use money from our LOC.
    Any thoughts?
    Thanks
     
    Amaroo, 1st May, 2016
    #1
  2. Terry_w

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

    Joined:
    18th Jun, 2015
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    Australia wide
    Set up a new split on the LOC (don't mix) and do it. You can always use the offset money to pay off the LOC at any stage.
     
    Terry_w, 1st May, 2016
    #2
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