Wow great forum, wish I got half the acronyms!
Set myself the goal of 2 investment properties by Christmas
PPOR 420K owe 160k
Income 70K
Single mum three liabilities ( teenagers )
Would like to refinance from Credit Union current interest 7.05 fixed till march 2008, (Have approached them but too conservative & 8.9% for LOC,no offset avail)
Prefer to fix existing loan, borrow enough to purchase 2 x 250 (5.9% return) and enough buffer for 4 yrs. Utilizing offset account,
MB suggests Westpac refinance with Premier Advantage Package, 160K then borrow 175K taking me to 80% on PPOR, (7.79% still working on this)
Then finance IP through other bank, using Low doc this part makes me wary and unsure I would get the finance.
Can someone help explain how Package works/ do I really need it.
Is there a better product out there.
Set myself the goal of 2 investment properties by Christmas
PPOR 420K owe 160k
Income 70K
Single mum three liabilities ( teenagers )
Would like to refinance from Credit Union current interest 7.05 fixed till march 2008, (Have approached them but too conservative & 8.9% for LOC,no offset avail)
Prefer to fix existing loan, borrow enough to purchase 2 x 250 (5.9% return) and enough buffer for 4 yrs. Utilizing offset account,
MB suggests Westpac refinance with Premier Advantage Package, 160K then borrow 175K taking me to 80% on PPOR, (7.79% still working on this)
Then finance IP through other bank, using Low doc this part makes me wary and unsure I would get the finance.
Can someone help explain how Package works/ do I really need it.
Is there a better product out there.
