Hi all,
I have just had my contract to buy a property signed by the sellers, and have pre approval with the Commonwealth Bank. What type of loan should I request – eg. 100% offset account – interest only with ….?, or 100 % offset account – Principle and Interest with …..?, or something else? Please be specific with your wording and reaons as I am new to loans.
Thanks for your replies.
Are you buying a house to occupy or is it an investment property?
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi,
It is to be both.
Personally i would go 100% fully transactional offset with Interest only loan.
Regretfully though this is not available thru CBA.
Richard Taylor | Australia's leading private lender
Ditch CBA and Try NAB.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I agree with Terry.
Submitted one for a forum member this afternoon at 1.00pm and 1.10pm had the conditional approval subject only to an external valuation.
Admitedly this level of service is out of this world and the deal was a fairly straight forward one but all depends on who you deal with at NAB.
The Bank has a few quirks when it comes to some parts of its policy but your Broker should be able to help you through this.
Richard Taylor | Australia's leading private lender
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