well i got told by a broker if you have say 2 securities with the same bank they are deemed to be separate loans and different securities can be secured against these properties at a later stage or “refinancing”. This doesn’t technically cross cat the loans but if you default on your loans or repayments and somehow the banks wanted there money they could take both 2 securities to the cleaners.

I also got told its best to setup your loans with different banks spread the mustard around may be a little more time consuming and maybe at some stage banks might not lend as much but iv been told its safer.

It was a little to late for myself to take my latest property purchase to another bank i found this out a little late, but if it helps you good luck.

Hope i explained this ok i’m only learning my self and ain’t no broker or bank manager so my word isn’t the gospel.

cheers
Bill

Hi Brad,

With so many defaults within 5years i highly doubt you will get finance through the big banks especially if you need to use Mortgage insurance.

not worth the risk of paying back $17000+ and fines!

Cheers Mike
Real eye opener to read the reports should of done the hunting around prior to purchase but i didn't know

i done a caveat purely for peace of mind it only cost me $70 odd dollars
i don't know were they got that figure from

Richard
Wont be it be tax deducable sorry? im learning all of this

I have my PPoR and don't have a offset account as yet i want to knock off some P & I first, then have my loan offset capable.
will i be able to claim tax or interest on my rent still or if i redraw out of my equity? btw i will have someone living in after the first 6months due to my FHOG so i need to live in there first.

dank,
i recently got a loan new job same idustry on a probation through westpac no worries, apprently commbank don't care thats what my broker told me.

i just had to provide a letter saying i am doing really well and i am working full time didn't mention the probation.

good luck