Hello, My parents are about to transfer their investment property over to my name, though they still owe about $125k or so on the loan. The value of the property should be above $500k. I want to take out a loan of around $150k (to cover stamp duty and the title transfer)...is it correct that i don't need to pay any sort of deposit because the house more than covers the 80% loan target? How does the mechanics work? Also when looking for a loan, is there anything i should be looking out for besides: * no upfront/setup costs * low to acceptable interest rates (kinda hard in today's environment) * mortgage offset account? * fortnighly payments at least Is there anything else? I'm still not sure whether I want to go principal + interest or interest only. The property will be treated as an investment property....but i don't plan to sell it in the immediate future and its really something i want to keep. The property will be self funding as the rent will pay off the interest. I also plan to buy an investment property latter this year or next year, which loan or type of loan will best allow me to use this transferred property to leverage off and borrow more to invest in property? Thanks.