Hi All
Just got our unit Valuation back, 420k, last val was done in Jan and it was 375k !!
I believed the Jan one was slightly off( done by a 19 year old in 5 minutes)
Our current loan is $3222279 IO with ING.
This brings our LVR to around 76%.
Now I don't mind ING, but the convenience of having actual Branches is a factor.
Moving large amounts of money around via internet banking and daily limits is rather painful( ANZ 1 week later....)
What i'm thinking is to refinance to 80% LVR with combank, dump the difference in the offset with the rest of the funds ready for the second property purchase.
So a few questions.
Is combank a good bank to go with( I work in IT and find combank to be at the forefront of Tech, so I am naturally drawn to this bank)
For the second property purchase should we be using a different bank( won't be any cross collateralization with Combank as loans will be separate.)
We currently have anz platinum credit cards for the rewards( gets us around $700 per year, for a $150 fee)
Combank have the only close to equilavent Amex/MasterCard combo with high rewards points and this is free on wealth package I believe, so saving would be $150 per year)
Forgot to mention that the Property Val was done by Herron Todd White on Behalf of commbank( No complaints as was a free val)
What I also read on here is that it is good to use a mortgage broker to negotiate rates with the bank, however when visiting the bank, the bank manager was adamant that they can look after me just as well, is this the case?
Sorry lots of questions.
Cheers
Denis
Just got our unit Valuation back, 420k, last val was done in Jan and it was 375k !!
I believed the Jan one was slightly off( done by a 19 year old in 5 minutes)
Our current loan is $3222279 IO with ING.
This brings our LVR to around 76%.
Now I don't mind ING, but the convenience of having actual Branches is a factor.
Moving large amounts of money around via internet banking and daily limits is rather painful( ANZ 1 week later....)
What i'm thinking is to refinance to 80% LVR with combank, dump the difference in the offset with the rest of the funds ready for the second property purchase.
So a few questions.
Is combank a good bank to go with( I work in IT and find combank to be at the forefront of Tech, so I am naturally drawn to this bank)
For the second property purchase should we be using a different bank( won't be any cross collateralization with Combank as loans will be separate.)
We currently have anz platinum credit cards for the rewards( gets us around $700 per year, for a $150 fee)
Combank have the only close to equilavent Amex/MasterCard combo with high rewards points and this is free on wealth package I believe, so saving would be $150 per year)
Forgot to mention that the Property Val was done by Herron Todd White on Behalf of commbank( No complaints as was a free val)
What I also read on here is that it is good to use a mortgage broker to negotiate rates with the bank, however when visiting the bank, the bank manager was adamant that they can look after me just as well, is this the case?
Sorry lots of questions.
Cheers
Denis