What we had to do

Robert came to us to buy his first owner occupied property after buying several investment properties in the years prior.  His primary goal was to pay down his owner occupied property as soon as possible so he could continue to invest further.  Robert also needed to borrow funds against his existing properties to be used towards the purchase of new owner occupied property.

How we did it

Taking into account Roberts goals to pay down his owner occupied home loan as soon as possible and wishing to keep his loan on a variable rate rather than a fixed rate.

We firstly shortlisted the lenders that would lend the required money based on his income, we then further narrowed down the list of options by looking at home loan packages which come with an offset account and free credit card.  The benefits of the offset account and credit card in the package is Roberts income from his employment and rental income would go into the offset account and using the credit card for his spending which maximised the time he had his money working for him against the home loan.

We also switched his investment loans to interest only which allowed extra funds to be directed towards paying off the home loan first while maintaining the maximum tax deductibility of the investment loans.