having a loan which you can make extra repayments and redraw from or having an offset account. etc say u had an extra 40-100k where is it best to put it offset or back into the loan? ideally wanting to then take it out later to use for a deposit for next ip.
i know the major con for having it in the loan is that if the property price drops you can't take it back out.
but pro for putting it into the loan is it'll become tax deductible when used for next ip deposit?
i want to have like a pros and cons list
Cheers,
loan with redraw or offset account
i know the major con for having it in the loan is that if the property price drops you can't take it back out.
but pro for putting it into the loan is it'll become tax deductible when used for next ip deposit?
i want to have like a pros and cons list
Cheers,
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