Hi there.
We currently live in a house (on an interest only loan) where we fixed the interest rate at 6.8% 1 year ago, with two years still to run.
We would actually like to begin paying off some principal because we will be living there for a while yet so, is this possible without losing our interest rate?
The particulars:
CBA
MAV Package
Interest only, fixed for 2 years
We would like to either: switch the loan to principal and interest, or add a 100% offset account (offset currently only offsets 1.5% because it is fixed)
Thank you.
We currently live in a house (on an interest only loan) where we fixed the interest rate at 6.8% 1 year ago, with two years still to run.
We would actually like to begin paying off some principal because we will be living there for a while yet so, is this possible without losing our interest rate?
The particulars:
CBA
MAV Package
Interest only, fixed for 2 years
We would like to either: switch the loan to principal and interest, or add a 100% offset account (offset currently only offsets 1.5% because it is fixed)
Thank you.