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As promised, here is an update. Just heard from the broker and as most of you suggested, all is well. CBA have come back and said that the switch has been approved and will be reflected in the next few days. No discussion of fees. Many thanks again for your thoughts and experienced advice...

Again, thank you all for your advice. I certainly feel a lot better about the situation having advice from people with similar experience or who know the industry an awful lot better than myself. Alex Lee: you are probably right in both respects; the PI did not specify it was PI, only the...

That is good. Thanks for the vote of confidence. Just hoping they don't come back to us and ask for a hefty fee for the switch.

Thanks you guys for the speedy responses. Much appreciated. It's with Commonwealth Bank. We have spoken to the MB and we have now signed and sent off a "switch loan" to them in the hope they will change both the fixed part and variable part of our loan to interest only. The MB originally got...

Hi there all, This is my first post on what I can see is an amazingly informative website. I'm looking for some thoughts and suggestions please. My wife and I have just bought our first IP out in Mount Druitt. We used a mortgage broker (MB) to find us the best deal. We met face to face...