I've got a fixed IO loan with Westpac which is due to finish next year (thank goodness). But the new repayments were HIGHER than the current ones.
What they automatically do is change it to a variable P&I loan.
All I had to do was call them and get it changed to a variable IO loan, plus pay $300.
Anyway, just be careful because if you dont check, you could end up on a P&I loan when you dont want it.
What they automatically do is change it to a variable P&I loan.
All I had to do was call them and get it changed to a variable IO loan, plus pay $300.
Anyway, just be careful because if you dont check, you could end up on a P&I loan when you dont want it.