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Hi propertymistro,
If you have Netbank, you can see the BSB and Acc Numbers. With these, you can have your Salary paid straight into the H/L so it will be 'reducing' interest straight away (its not something the Banks will advertise). If you don't have Netbank, give Phone banking a call to get the BSB for the Homeloan.
Regards,
Danp.s I've had a few Commbank loans and it works with all the standard variables… just note that you will have to pay a Redraw fee if you don't have the Wealth package as you will want to redraw however much to pay of the C/card.
OK.. well the loan as i said would be around $400K (depending on which block I choose) and the value would be $500+K (this is by the way to BUILD NEW so it will take 7-10 months.. (p.s $500 K for the 2 houses is VERY conservative)
I guess the reason why Im asking is simply because that area has only approx 6% growth so the growth will only come from the construction deal…
Thanks for you time and comments.
They're All good answers, thank you…
So.. heres a question… (answers will obviously vary due to different opinions)
Do I buy/build in Melbourne or Brisbane and enjoy good upcoming Capital with average yields?
OR
Buy a block in a small southwest town of WA (1/2 hr drive from home) and build 2 houses/units with expected rent at total $700 p.w servicing $400,000 investment loan with 90% LVR??
No need to respond guys, the particular block I was really interested in is sold, and well … I've been advised against buying in Collie as its a 'mining' town…
hmm..
