Search results

Thanks - thought that would be the case. The bank have just been on and conditionally approved the loan, yay! Just got to send some supporting docs off to them to tie it all up. I told them we didn't want to xcol so could we take a split draw against the PPOR and a seperate loan for the...

Can anybody comment on above? I should be hearing from the bank today. Thanks.

OK, so I found & read Corsa's thread. I kind of got the gist of it, but not sure how it applies to a fairly straight forward offset account scenario. Having read about X-Col, I can also see why people recommend not going down that route if possible. So, at the moment, I think my situation...

Thanks for the reply. I’ll have a search for cross-collateralizing at lunch time. Do you think it would be better to split the existing loan then, so that each loan is for the respective house that it is secured on? Can I ask what you mean by capitalizing the interest? Cheers.

Hi all, We are in the middle of sorting out finance for our first Australian IP. We are using some equity from our PPOR to put down a 20% deposit & cover costs, and the remaining 80% will come from the new loan against the IP. Effectively we'll be borrowing 100% + costs this way, so we...