Hey everyone, I'm looking for some advice, that perhaps some of you have some experience with.
I currently own a house which I live in with a mortgage (lets say the amount is $x), and have roughly 0.5x in the offset account.
I am looking to buy some more shares, and have realised it would be better to have a separate loan for the shares, instead of taking cash out of my offset account so then I can net off the interest on the loan against the dividends I receive on those shares.
My questions for you are then:
1) What is the best way to do this? Get a separate line of credit (bank said something about 5.4% rate) or is it possible to split my home loan (~4.1%) into two loans, and have one part dedicated to investments? Is that allowed? How much should I split off?
2) Is it possible to do this for investments I already own outright, so that I can put more cash into my PPOR offset account?
Edit: the other complicating factor is that the house is in our names, but I want to buy the shares in the family trust, not sure if this creates any other issues