Hi brokers,
I will be living in the new property for the first few years doing renos and will have 2 loans associated with the property:
1/ the split equity loan which is already IO with offset, waiting to be used on the deposit and renos.
2/ the balance of the loan. Does 4.58% for 3 years or 4.75% for 5 years; IO fixed with offset (and redraw available) sound like the go?
Would this be the best way to maximise both flexibility and the possibility of reducing repayments right now?
I will be living in the new property for the first few years doing renos and will have 2 loans associated with the property:
1/ the split equity loan which is already IO with offset, waiting to be used on the deposit and renos.
2/ the balance of the loan. Does 4.58% for 3 years or 4.75% for 5 years; IO fixed with offset (and redraw available) sound like the go?
Would this be the best way to maximise both flexibility and the possibility of reducing repayments right now?