Finance & Strategy Expert
Anne Maree asks:
I'm looking at my first property investment but am very cautious. I have a mortgage-free house but no cash. I’m 55 with one income of around $70,000. I’m considering a bach in Raglan as both a long-term investment and also for my own use (although it would need to be rented or partially rented).
We have three properties in New Zealand but have just moved to Australia. We want to buy a house here to live in and to use equity from our NZ properties (they are at less than 80% of total value). They are also making more money than I at first thought, which is unnecessary. Is this legal? And if it is, are we able to claim the additional interest as an expense?
I am 61 and on an invalids benefit. I have a freehold house with $500,000 equity. Do you think banks lend to me? I'm wanting a modest investment property, using my freehold property as security with little or no deposit?