Currently doing some top ups for our 2 IPS so that we can down pay our deposit on these which is on a different account with our PPOR loan AND
Our mortgage broker has suggested us to refinance our PPOR to bankwest as it has unlimited offset accounts when you have "blah blah" account which costs 395 per year..
Our current PPOR is with a non bank MYrate which is at 5.29. We are ok with a higher rate as we like the functionality of almost a transactional account.
Heres where it gets weird our broker said that we should refinance 500k (even though we only have 340 loan) and get 4.69 and then do a permanent reduction straight after it has settled back to what we want and apparently the rate stays the same ..
thoughts? Im after offsets and high functionality to pay bills and store rent, savings ect..are there others than bankwest as he hasnt mentioned any others..
Our mortgage broker has suggested us to refinance our PPOR to bankwest as it has unlimited offset accounts when you have "blah blah" account which costs 395 per year..
Our current PPOR is with a non bank MYrate which is at 5.29. We are ok with a higher rate as we like the functionality of almost a transactional account.
Heres where it gets weird our broker said that we should refinance 500k (even though we only have 340 loan) and get 4.69 and then do a permanent reduction straight after it has settled back to what we want and apparently the rate stays the same ..
thoughts? Im after offsets and high functionality to pay bills and store rent, savings ect..are there others than bankwest as he hasnt mentioned any others..