M macdub 18th Feb, 2014 #1 Hi All, Just a quick question, is there any penalty for switching from P&I to Interest Only on a fixed rate loan? Thanks in advance
Hi All, Just a quick question, is there any penalty for switching from P&I to Interest Only on a fixed rate loan? Thanks in advance
A Aaron_C 18th Feb, 2014 #2 Yes because it is considered a break of the loan as for a fixed loan both the repayments and the rate are fixed.
Yes because it is considered a break of the loan as for a fixed loan both the repayments and the rate are fixed.
M macdub 18th Feb, 2014 #3 Aaron_C said: Yes because it is considered a break of the loan as for a fixed loan both the repayments and the rate are fixed. Click to expand... Thanks Aaron_C
Aaron_C said: Yes because it is considered a break of the loan as for a fixed loan both the repayments and the rate are fixed. Click to expand... Thanks Aaron_C
Brady 18th Feb, 2014 #4 Aaron_C said: Yes because it is considered a break of the loan as for a fixed loan both the repayments and the rate are fixed. Click to expand... Thats not correct with CBA. You can switch from PI to IO.
Aaron_C said: Yes because it is considered a break of the loan as for a fixed loan both the repayments and the rate are fixed. Click to expand... Thats not correct with CBA. You can switch from PI to IO.
