900000 interest only loans

900,000 loans move from interest only to principal and interest this month unless you've actioned something, whether it's an extension or you prepared yourself for principal and interest payments. Hey, it's Aaron from Diagnostics and Finance. One of the biggest questions we get asked is in regards to extending interest only periods or uncrossing securities. And those two things are probably sparked with a whole range of questions and probably a multitude of videos. I one of the things I want you to remember out of this video is that the principal component of your property investment home loan is not tax deductible. The interest component is, but the principal isn't. So if you've got a property that's running at $1,000 positive only because you're on interest only, that's something that you need to be thinking about and preparing for because the principal component is probably going to make it a lot more negative for you to hold the property. And what you need to do is you need to in a credit crunch environment and the environment we're in right now with proof of income to be able to get interest only back, you need to be aware that the principal component is not tax deductible and you need to be prepared to pay for it if you need to. And that could spark a whole range of questions. Do I have the right property, Do I need a new property? Whatever the case is. But you need to be on top of things when you're looking at interest only because it can make a big disastrous impact into your budget as long as if your property is sitting at $1,000 positive. Hey, it's Aaron from Diagnostic Finance. If you've got any questions in regards to interest only, put it in here. Principal components not tax deductible. It's a very interesting area we're going to go into with $900,000 going out to interest only because I think people not going to be prepared with that 50 to 60% increase in your repayments per month. Bit of a danger there. Time to think about it. Hey, bye for now.