Search results

Hi Sanjay, No great story to tell unfortunately. I asked my father years ago if he was able to go guarantor for me and he didn't want to. Back then I was not working (just had a baby) and my husband's job was neither secure or well paid - so serviceability was an issue as well as the deposit...

OK, so... I must have IO and 100% offset - any other features that I should have?

That's exactly the info I need - thanks guys (may take a while to sink in, but thanks!) So with a redraw facility, even if it was an IO loan, you are saying that any extra that I've paid into the loan is off the principal, not the interest? And this somehow mucks up things for me when i...

Oh, I know they are just sales people, so I am relying on you guys to keep me informed!

The difference between an offset and a redraw? The Rams guy said they were the same - I guess he would say anything to sell the loan! My understanding is that the offset allows you to put your salary into the loan and then you take out what you want - may save you a little interest that way...

Sent you a PM Josco

Thanks for your responses. We've already spoken to 3 MB's and a rep from Rams. The MB's are telling us that they don't have any products that suit us i.e no more than 5% deposit, no genuine savings. I understand that the majors wont lend more than 90% - so we will have to go with Rams, even...

OK... so we are in the process of looking for a lender and beleive that Rams suit us due to 95% loans - as far as we know, no other lender will lend that much. Now to the point of which product? Rams has over 15 loan products! This property will be out PPOR for a few years until we can move...