I have been approved with 100K equity from my loan provider.
The lender has created a new loan and offset account for the split. The funds are now released by the lender and they kept it in the offset account.
For investment purposed, should I draw down the loan and make the payment from loan account or I can make the payment from offset account?
One issue I have with the lender is that if I pay down the loan in full, the loan account would get locked. System thinks I paid off the loan. What is the best practice?
The lender has created a new loan and offset account for the split. The funds are now released by the lender and they kept it in the offset account.
For investment purposed, should I draw down the loan and make the payment from loan account or I can make the payment from offset account?
One issue I have with the lender is that if I pay down the loan in full, the loan account would get locked. System thinks I paid off the loan. What is the best practice?