Have just stumbled across this forum in the last couple days and what a great site!
We're currently in knowledge acquisition/ planning stage to be able to act quickly when then time is right for our next purchase.
Am seeking advice from the experienced people on how we should structure our finances.
We are currently renting and construction is in progress for our PPOR (due for completion Sept/ Oct 2015) which is at ~75% LVR (on variable rates). PPOR has two offset accounts.
Currently also holding 2 IPs.
IP1: 70% LVR (50% variable/ 50% fixed until December 2015)
IP2: 80% LVR (Fixed until November 2015)
All loans are with CBA at the moment with rates ranging from 4.7% for variable rate loans and up to 5.39% for fixed rate loans. None of them have LMI.
From the forums, it seems some lenders are doing rates at 4.6% or lower at the moment. Do feel that the fixed rate loans are holding us back from enjoying the the low rate environment!
What are suggestions to get our borrowings/ refinancing/ equity in order for our next purchase?
Would like to keep things simple without cross collateralising or tax deduction issues?
Is it wise to stay with CBA or start diversifying with other lenders? (Service with CBA has been great so far other than my mistake partially fixing the loans)
We're currently in accumulation stage and want to continue acquiring IPs. The 2IPs above was just a standard buy and hold. It seems I'm following the natural progression path and for our next project, am wanting to look at a buy, reno and release equity.
Thanks!
We're currently in knowledge acquisition/ planning stage to be able to act quickly when then time is right for our next purchase.
Am seeking advice from the experienced people on how we should structure our finances.
We are currently renting and construction is in progress for our PPOR (due for completion Sept/ Oct 2015) which is at ~75% LVR (on variable rates). PPOR has two offset accounts.
Currently also holding 2 IPs.
IP1: 70% LVR (50% variable/ 50% fixed until December 2015)
IP2: 80% LVR (Fixed until November 2015)
All loans are with CBA at the moment with rates ranging from 4.7% for variable rate loans and up to 5.39% for fixed rate loans. None of them have LMI.
From the forums, it seems some lenders are doing rates at 4.6% or lower at the moment. Do feel that the fixed rate loans are holding us back from enjoying the the low rate environment!
What are suggestions to get our borrowings/ refinancing/ equity in order for our next purchase?
Would like to keep things simple without cross collateralising or tax deduction issues?
Is it wise to stay with CBA or start diversifying with other lenders? (Service with CBA has been great so far other than my mistake partially fixing the loans)
We're currently in accumulation stage and want to continue acquiring IPs. The 2IPs above was just a standard buy and hold. It seems I'm following the natural progression path and for our next project, am wanting to look at a buy, reno and release equity.
Thanks!