We're nearing the end of the FY and would just like some opinions on what I may be able to do to help my situation a little.
Due to favourable rates, income and being in a favourable position to reduce my debt (by the way of an offset account) I have a positively geared IO IP, Var loan. Sold off some shares earlier this year for a gain.
I've been searching for something as I can afford to buy again but nothing has been suitable as of yet.
I don't believe I can prepay interest on a Variable loan but wondering if there is something else out there which I may do?
For example, take out a loan of some sort, prepay interest, repay early next FY?
All help greatly appreciated.
Thanks
Due to favourable rates, income and being in a favourable position to reduce my debt (by the way of an offset account) I have a positively geared IO IP, Var loan. Sold off some shares earlier this year for a gain.
I've been searching for something as I can afford to buy again but nothing has been suitable as of yet.
I don't believe I can prepay interest on a Variable loan but wondering if there is something else out there which I may do?
For example, take out a loan of some sort, prepay interest, repay early next FY?
All help greatly appreciated.
Thanks