SearchRecommendations for next step
J asks:
(updated on Sunday, March 29th 2015)
We have $400,000 equity in our personal property and $150,000 in our rental (in a LTC). We are trying to decide if we should sell our personal property and buy something with a lower mortgage or to keep our current property and loan our equity to the LTC to purchase additional rental properties?
Any recommendations or considerations?
Our Experts Answer:
Hi J, a hard question without knowing more about what age you are at and what your goals actually are. Start with looking at what you are actually trying to achieve as you need to have this very clear before making a move either way. It's worth taking some tax advice through the process to ensure you are doing your numbers correctly as well in regards to how your after tax cashflow will actually look under the different scenarios. Regards Kris Pedersen
Most Read
| Unity First Home Buyer special | 4.09 |
| SBS FirstHome Combo | 4.19 |
| ICBC | 4.49 |
| Kainga Ora | 4.59 |
| Co-operative Bank - First Home Special | 4.59 |
| AIA - Go Home Loans | 4.65 |
| ANZ Special | 4.65 |
| ASB Bank | 4.65 |
| SBS Bank Special | 4.69 |
| TSB Special | 4.69 |
| Co-operative Bank - Owner Occ | 4.69 |
| China Construction Bank | 4.95 |
| Kainga Ora | 4.95 |
| ICBC | 4.99 |
| Nelson Building Society | 5.09 |
| SBS Bank Special | 5.19 |
| ASB Bank | 5.25 |
| TSB Special | 5.25 |
| AIA - Go Home Loans | 5.25 |
| Co-operative Bank - Owner Occ | 5.29 |
| ANZ Special | 5.29 |
| Kiwibank Special | 5.29 |
| BNZ - Std | 5.49 |
| ICBC | 5.65 |
| Kainga Ora | 5.69 |
| Co-operative Bank - Owner Occ | 5.79 |
| SBS Bank Special | 5.79 |
| AIA - Go Home Loans | 5.89 |
| ASB Bank | 5.89 |
| TSB Special | 5.99 |
| Westpac Special | 5.99 |
| Kiwibank Special | 5.99 |
| China Construction Bank | 5.99 |
| SBS FirstHome Combo | 3.29 |
| AIA - Back My Build | 3.34 |
| SBS Construction lending for FHB | 3.74 |
| CFML 321 Loans | 3.95 |
| Co-operative Bank - Owner Occ | 4.99 |
| Co-operative Bank - Standard | 4.99 |
| ICBC | 5.39 |
| Kiwibank - Offset | 5.75 |
| Kiwibank Special | 5.75 |
| Kiwibank | 5.75 |
| Unity Standard | 5.79 |
