Only four loans?
I've got way, way too many with more to come. Have I told you that I hate the bookwork.
3 & 5 year fixed rates thread
- Thread starter JIT
- Start date
Only four loans?
I've got way, way too many with more to come. Have I told you that I hate the bookwork.
No! No! No! No!
To do that you would have to have everything in the one bank and cross collateralised to death. If you want to grow a portfolio you need flexibility. Giving it all to the one bank just won't do.
There's a difference? Last dozen times I've fixed, it's been the same rate weither IO or PI - but you do have to pay a couple of hundred dollars fixing fee
Skater, I am sorry, I may need some one help me understand the "flexibility" of having a seperate loan with each property, over one loan for the lot. I will add, that at my stage of life, I am not at the upper end of LVR, and my borrowings are in the name of a trust, so that allows me a great deal of flexibility, in my opinion.
Banks can (and do) play nasty when loans are cross-collateralized.
While on this train of thought...
Skater, does this only apply when it comes to selling? I don't see how else it would affect anything, unless you wanted to release some equity, and one property went up while another went down.
Well, I just went through a 6mth torture from a Building Society in order to release a security of mine. They had an extra title in the mix so I could get across the line when I bought the last one from this lender. This was some time ago now, so I wanted my title back.
All done now, but they really didn't want to give it back. This caused a few problems as there was stuff that I would have liked to purchase, but could not refinance anything until this was put to bed in case they got a whiff that I was getting extra funds as we don't fit their criterior any more.
We've just locked one in @ Suncorp, 3-years for 6.45%
Call me greedy, but I am dreaming of 6.00% for 5 years with CBA. It's currently 6.33% for 3 years. It's funny how greedy we get. If they would have offered me 6.33% 6 months ago, I would have sent them thank you emails. Now I've got my hand out asking for more.
I caught the interest rates as they bounced up last time, will probably happen to me again.
I caught the interest rates as they bounced up last time, will probably happen to me again.
Heritage are down to 6.39
6.39% Fixed for 5 years.(comparison rate 7.07%)
Unlimited repayments andlump sums
Unlimited and free redrawif under the Pro Pack
Available for CONSTRUCTIONLOANS 95%
Debt consolidations 85%
Re-finances 90%
First Home Buyers 95%
Interest only for investors
Nil app fee if under ProPack
ta'rolf
6.39% Fixed for 5 years.(comparison rate 7.07%)
Unlimited repayments andlump sums
Unlimited and free redrawif under the Pro Pack
Available for CONSTRUCTIONLOANS 95%
Debt consolidations 85%
Re-finances 90%
First Home Buyers 95%
Interest only for investors
Nil app fee if under ProPack
ta'rolf
