OK... so we are in the process of looking for a lender and beleive that Rams suit us due to 95% loans - as far as we know, no other lender will lend that much.
Now to the point of which product? Rams has over 15 loan products! This property will be out PPOR for a few years until we can move on and make it an IP. We'll be doing some basic reno (kitchen, bathroom, floor covering, paint etc... so we will need some extra cash for these things.
We were thinking IO (for tax advantages when it becomes an IP) and 100% offset (so we can try and save a little interest), but what other features would be ideal for our situation?
Also, we're really unsure about fixed or variable.
Brain strain!!!
Now to the point of which product? Rams has over 15 loan products! This property will be out PPOR for a few years until we can move on and make it an IP. We'll be doing some basic reno (kitchen, bathroom, floor covering, paint etc... so we will need some extra cash for these things.
We were thinking IO (for tax advantages when it becomes an IP) and 100% offset (so we can try and save a little interest), but what other features would be ideal for our situation?
Also, we're really unsure about fixed or variable.
Brain strain!!!