I have my mortgage with St George. They are waiting for my tax assesment to come back before I apply for a loan. Menawhile they offered to add $100K to my mortgage so I could 'jump' if need be on a property whilst waiting (I had savings as well). They also said it would mean I could have a 9% discount on my mortage so I agreed but told them I DIDN'T need the money right now and probably wouldn't, therefore leave it in the mortgage.
Mortgage balance WAS showing as $459K with available balance of $65K (extra payments we made that we intend to draw on when we buy IP). I view it that the mortgage is actually $524 knowing I will take the $65K out soon.
Anyway, this is what happened today:
24/02/2010 Opening Balance $459,234.52
01/03/2010 Settlement Fee $100.00 $459,334.52
01/03/2010 Fee Settlement $500.00 $459,834.52
01/03/2010 Increase Advnce $99,400.00 $559,234.52
03/03/2010 Closing Balance $559,234.52
Yes they did agree to waive fees but I don't see it yet.
Still shows available balance of $65K as it has one for ages.
Later tonight I log in again and there's a CASH deposit in my HUSBAND'S account. Now. Hubby's A/C is not the offset A/C as the loan is SOLELY in MY name. But this is showing in his bank A/C now.
01/03/2010 Cash Deposit $99,386.10
I have to assume these things are somehow related, but why would they do this??? I asked for them to add it to the $65K we had, and make that cash accessible online so I could CHOOSE to withdrawal if I NEEDED to.
I'm very confused indeed.
Mortgage balance WAS showing as $459K with available balance of $65K (extra payments we made that we intend to draw on when we buy IP). I view it that the mortgage is actually $524 knowing I will take the $65K out soon.
Anyway, this is what happened today:
24/02/2010 Opening Balance $459,234.52
01/03/2010 Settlement Fee $100.00 $459,334.52
01/03/2010 Fee Settlement $500.00 $459,834.52
01/03/2010 Increase Advnce $99,400.00 $559,234.52
03/03/2010 Closing Balance $559,234.52
Yes they did agree to waive fees but I don't see it yet.
Still shows available balance of $65K as it has one for ages.
Later tonight I log in again and there's a CASH deposit in my HUSBAND'S account. Now. Hubby's A/C is not the offset A/C as the loan is SOLELY in MY name. But this is showing in his bank A/C now.
01/03/2010 Cash Deposit $99,386.10
I have to assume these things are somehow related, but why would they do this??? I asked for them to add it to the $65K we had, and make that cash accessible online so I could CHOOSE to withdrawal if I NEEDED to.
I'm very confused indeed.