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🏠 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

What this does for your cash flow

The cash-out pays the running costs of your investment properties for you, so they no longer come out of your income.

💵
Saved each month
$3,000
of property costs off your cash flow
📅
Saved each year
$36,000
back in your pocket while the cash lasts
⏳
With Option 1
34 months
to Sep 2029, 10 longer than Option 2

These use about $3,000 a month, the figure from your own spreadsheet. The slider further down changes them.

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.

As we've discussed, you wanted two things from this refinance:

Goal 1
The most cash for the property costs
Option 1: $102,700, the most of any option
Goal 2
Repayments that stay manageable
Option 1: $17,343 a month that never changes

This page shows how each option delivers on those two goals, and how long the cash lasts.

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 comparison

Stay as you are

Nothing moves
$0
cash for property costs
My recommendation

Option 1

All five properties to Bluestone
$102,700
cash for property costs
Lowest for two years

Option 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 to see a month that costs a little more or less.

$3,000
Halcyon about $1,000, Morningside about $700, Spearwood about $600, Cottesloe about $500
Option 1
Option 2

Your safety buffer, month by month

This is the cash still put aside for the property costs at each point. The more there is, the more breathing room you have, especially when the ANZ payments rise in October 2028.

Option 1Option 2Option 1's extra buffer

Why I lean to Option 1

  1. 💰
    The most cash, by $30,000$102,700 covers almost three years of property costs. Option 2 covers about two years.
  2. 🛡️
    The biggest buffer when payments riseIn October 2028 Option 1 still has about $33,700 put aside. Option 2 has about $3,700.
  3. 📌
    One lender, one payment that never changes$17,343 a month all the way through, with every loan paying down: about $11,000 more off your loans in three years.
  4. 📉
    Cheaper for the long runFrom October 2028 it's $151 a month less than Option 2. Over five years, Option 1 comes out about $12,400 ahead.
  5. ⏰
    Sorted before Andrew turns 70Bluestone counts Andrew's income to age 70, in April 2028. Option 2 leaves ANZ and NAB until after then, when a new loan is much harder.
  6. 🏦
    Your cash works while it waitsIt sits in an offset, so until it's spent it cuts your interest: about $5,200 more saved with Option 1, on top of these figures.
  7. ✅
    Both of your goals, metYou get the most cash for the property costs. Your payment stays the same all the way through.
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 $23,000 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

  1. 1
    Which option you'd like to go withOption 1 meets both of the goals you set. A quick reply to my eMail is all I need.
  2. 2
    The date the NAB interest only ends on SpearwoodAndrew, this lets me confirm the figures for Option 2 and for staying as you are.

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, used only for the property costs, and the property costs flat. The offset saving is worked out at 7.09% on the extra cash Option 1 holds. 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.