mmmm saying $342 a fortnight more isnt that much more... IT IS, its almost an extra $700 a month and thats without more interest rate hikes, do you have that spare at the moment? its heaps more darl, sorry i dont want to be a downer on this but servicing a $270.000 loan isnt easy, remember there is also house abd contents insurance, rates, bills etc... if something major breaks you have to pay for it.
Can u speak to your MIL about doing a deal with her to buy the property you're in by paying her what your paying now in repayments?