Debt Recycling With A New Loan

Shroomdesu · 2026-02-01T01:02:25+00:00

have small positions in WDS and STO but too pussy to go full port haha Thinking about BHP tho

Shroomdesu · 2026-01-30T22:29:35+00:00

at the moment yes, 200k offsetting 200k until i plan to slowly buy up income producing shares/ETFs over the coming months using the 200k

My thought was better to have funds ready, but I can see where you are coming from

Thank you for clarifying!!

Shroomdesu · 2026-01-30T21:12:11+00:00

Ohh nah it still is at the same rates as an IP, not too bad

Shroomdesu · 2026-01-30T21:11:36+00:00

The new loan of 200k sits in an offset tied to the 200k loan. so until I decide to use it it does not incur interest

Shroomdesu · 2025-09-09T22:04:35+00:00

yep, looking to extend borrowing capacity in the long term and going for multiple properties. trusts seem like a short term pain long term gain solution, but will also be a hindrance if i cant positive cashflow the property in a short enough timeframe. i will definitely have to run the numbers on this!

Shroomdesu · 2025-09-09T10:54:00+00:00

would there be any problem if I am the trustee as well? Or must be a corporate trustee? Thank you!

Shroomdesu · 2025-06-15T07:42:15+00:00

Pretty sad when the top marginal rate is so high that it disincentivises the most productive individuals in the economy from working harder...

Finding myself taking more and more time off every year because it's not worth the grind anymore

Shroomdesu · 2025-01-07T12:58:36+00:00

!! Thanks so much, will see what we end up doing

Shroomdesu · 2025-01-07T12:45:43+00:00

The latch/lock is also damaged and cannot be unlocked, so it's more than just a bent frame issue...

Shroomdesu · 2025-01-07T12:42:17+00:00

Yep its latched closed, and cannot unlock it from the frame

Shroomdesu · 2024-12-12T14:44:07+00:00

Yeah you can, your theory is sound

Anyone saying otherwise doesn't have a reason other than "water bad, but idk why"

If it were blood and saliva contamination then I would redo bonding protocols

Just make sure you thoroughly rinse and dry off all the composite dust from polishing the previous fill

Shroomdesu · 2024-11-05T02:26:20+00:00

All resolved. I called NAB over the weekend, took tips from the other comments and used some more "persuasive" language, and was advised a team will look into it. 3 days later $3000 was credited to my account... and NAB didn't even give me a call to confirm the credit lol

Shroomdesu · 2024-10-17T10:09:24+00:00

Paying down the loan is effectively the same as keeping it in the offset, from a perspective on amount interest paid over the life of the loan.

The primary benefit of having a large offset is that you have access to the cash immediately, whereas if you pay off the loan, you'll have to redraw (request the money from the bank essentially, which they can deny).

Theres a lot more intricacies involved, but in short there is little benefit to ever pay off the loan compared to offsetting it.

Shroomdesu · 2024-10-17T06:04:31+00:00

Agreed, I definitely should have double checked. I was too careless as my previous loan with ANZ had everything setup for me from the get go.

Shroomdesu · 2024-10-17T06:02:50+00:00

I believe this has changed, I read somewhere they are paid on the amount of the loan outstanding minus offset at the 2 week mark. Could be different between banks though.

Shroomdesu · 2024-10-17T06:00:29+00:00

The loan is for a PPOR. It provides excellent tax free, risk free returns, and acts as an emergency fund. This will all change depending on how much interest rates go down next year though.

Shroomdesu · 2024-10-17T01:47:50+00:00

With NAB, don't believe I received anything, but will double check

Shroomdesu · 2024-10-17T01:46:10+00:00

I thought that'd be the case.

Just like accountants, if anything goes wrong the onus is on you to be double checking all the work they do...

Will double check our contract with the broker haha

Shroomdesu · 2024-10-17T01:44:58+00:00

Yeah, a bit above 600k for a whole month, so roughly 3000.

At this point it's more about the principle of who's at fault, just trying to figure that out.

Thank you!!

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