🏠 Mortgage Choice · Prepared for Andrew and Michelle
Your refinance: how far the cash goes
Bluestone at 7.09% · Option 1 and Option 2 side by side · October 2026
Where we're up to
Good news first: Bluestone has agreed to 7.09% on all your loans, down from the 7.39% standard rate. That brings both options down, and Option 1 now releases more cash.
You told me on our call that you wanted two things: the most cash we could get for the property costs, and repayments that stay manageable. This page shows how each option delivers on that, and how long the cash lasts. Move the slider below and everything updates.
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Option 1 cash
$102,700
about 34 months of property costs
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Option 2 cash
$72,700
about 24 months of property costs
⏳
Extra with Option 1
+10 months
from $30,000 more cash
The options at a glance
Your loans today cost $16,847 a month. Your ANZ loans go from interest only to principal and interest on 18 October 2028, so the payments change then unless they move.
For comparisonStay as you are
Nothing moves
$0
cash for property costs
My recommendationOption 1
All five properties to Bluestone
$102,700
cash for property costs
Lowest for two yearsOption 2
Yokine and Halcyon to Bluestone
$72,700
cash for property costs
Option 1 is the only one where your payment never changes. It stays at $17,343 a month for the whole time. With Option 2 or staying put, your payments jump by $1,162 a month in October 2028.
How long the cash lasts
The cash-out is there to pay the running costs of your four investment properties: council rates, water, strata and landlord insurance. Your own spreadsheet puts those at about $3,000 a month. Move the slider if you think they'll be more or less.
- 1Andrew turns 70, April 2028
- 2ANZ interest only ends, October 2028
The full picture, month by month
This counts both sides of the ledger against what you pay today: the property costs the cash pays for you, less any rise in your loan payments (or plus any saving). Higher is better.
Option 1Option 2Stay as you are
Why I lean to Option 1
- The most cash, by $30,000. $102,700 covers almost three years of property costs, against about two years with Option 2. That was your first goal.
- One payment that never changes. $17,343 a month, all the way through. No jump in October 2028, and nothing to plan around.
- Cheaper for the long run. From October 2028 Option 1 costs $151 a month less than Option 2, and $1,121 a month less than staying as you are.
- Everything sorted now, while it's easier. Bluestone assesses Andrew's income on the basis of retiring at 70, and Andrew turns 70 in April 2028. Option 2 leaves the ANZ and NAB loans to deal with after then, when a new loan is likely to be much harder to get.
- Every loan paying down from day one, all with one lender. About $11,000 more comes off your loans in the first three years than with Option 2.
- Your cash keeps working while it waits. It sits in an offset account in your names, so until it's spent it lowers the interest you pay. Option 1 has more sitting there. The figures on this page leave that saving out, so they're on the cautious side.
Where Option 2 is stronger. It's the cheapest for the next two years: $16,333 a month to October 2028, which is $1,010 a month less than Option 1. Put another way, Option 1 gives you $30,000 more cash for about $24,000 more in payments over those two years, and from then on it's the cheaper of the two. Option 2 works too, and it's your call. Just go in knowing that refinancing again after April 2028 may not be possible, so treat it as the structure you'll hold for a while.
What I need from you
- Which option you'd like to go with. A quick reply to my eMail is all I need.
- Andrew, the date the NAB interest only ends on Spearwood, if you've been able to find it.
- Andrew, your two latest payslips from Evolve, so the file is current when we lodge.
Once you've chosen, I'll send the budget we agreed ($5,200 a month) and the exit plan to your phones by DocuSign to sign. Your $650 a week pension is already counted in all of these figures.
Happy to go through any of this on a call, whenever suits. Enjoy the rest of the trip!
How these figures work: Bluestone at 7.09% on every Bluestone loan, all on principal and interest over 30 years. Your other loans at their current rates plus the 0.25% rate rise. Option 2 assumes Halcyon keeps 7.09% when only Yokine and Halcyon move, which I'm confirming with Bluestone. The NAB loan is taken as principal and interest from now; if its interest only runs longer, staying put and Option 2 are a little cheaper until it ends. The timeline assumes settlement in December 2026, the cash fully drawn and the property costs flat. This page gives general information only and is not personal financial, tax or legal advice. Please check with your accountant how the interest on the cash is treated.