Hi,
I have a question about building a new IP house with a LOC.
We built a new IP house two years ago and just used a normal home loan,where the banks paid the installments as they become due.
Last year we built with a smaller private builder and just using out LOC,I was able to pay the payments as they come up myself.
We are just settling on some new land TODAY and have chosen Dixon homes Rocklea for this house.
What they are insisting is that we set up a joint account for the payments as they arise.Any interest accruing will be mine.(Because they are a public company)
Would I be better off doing this or just put it back in the banks hand as I did two years ago.I haven't spoken to my banker about this yet,just want some fresh advise?
I have a question about building a new IP house with a LOC.
We built a new IP house two years ago and just used a normal home loan,where the banks paid the installments as they become due.
Last year we built with a smaller private builder and just using out LOC,I was able to pay the payments as they come up myself.
We are just settling on some new land TODAY and have chosen Dixon homes Rocklea for this house.
What they are insisting is that we set up a joint account for the payments as they arise.Any interest accruing will be mine.(Because they are a public company)
Would I be better off doing this or just put it back in the banks hand as I did two years ago.I haven't spoken to my banker about this yet,just want some fresh advise?