Just to close this thread by posting the revision from the bank:
Home loan: -52000.00 (available fund: about 350000.00)
Investment loan1: -115000.00
Investment loan2: -367000.00
Thanks for all suggestions and comments.
Cheers.
Jamie, I will take Shahin's suggestion (loan structure) to the bank, and see what they can do about it. I just assume this staff is more familiar with the original settings, and would be easier to modify the structure. Maybe I am wrong, and will let you know.
Thanks, Terry.
I thought I pay the 10% deposit first, the bank will restore it back to my account #1 after the investment loan is finalised; same as the stamp duty and fees. I did this with AN* bank before, it went through all right without any problems. Because we want borrow the purchase...
Terry, thanks for the suggestions.
As for the old home loan, records were not kept online after closing the loan. I asked the bank for transaction records of the old home loan because I want to see the start point, and they emailed me a copy (from Adelaide) . Search my bank account online will...
Terry, sorry for my limited knowledge in banking.
-$52k is we owe the bank for the $565k ($650k) house.
I thought we have an equity of $650k-$52k, or at least $565k-52k
but this is not reflected in the refinanced results (I did not see it).
Thanks everyone for comments.
The starting point of this case is:
Home loan $430k, purchased at a price of $565k in 2009 (paid 20% deposit)
Balance in February of 2015: -$53k, available fund = ~312k.
Shahin, thanks for the quick comments and suggestions!
They have created three accounts for me (22/03/2015):
Home loan: $250k, available fund=150k
Investment home loan #1a = 400k, available fund =0
Investment home loan #1b = 230k, available fund = $210k
The unit has been purchased...
Dear Friends, I have been reading stuff in this forum for three years and still learning. I got our home loan refinanced this month with a major bank, but not satisfied with the results. I now present our case below and welcome your comments.
Home loan #1
In 2009, purchased a house (our main...