Just get an IO loan with redraw – place the equity release funds in the redraw and use ONLY for investment purposes. The rate will be a bit cheaper.

Why are you refinancing to NAB? Did you get a better valuation with them?

Cheers

Jamie

Try Nick Moustacas at strategic wealth

It’s a sharp rate – works well for some, not for others.

If you’re simply purchasing the one property and want to pay down the loan as quickly as possible then go with an online cheapie.

If you need additional functionality (ability to access equity, etc) then they may not be a good fit.

Also – I’m not sure how the post relates to the “best…[Read more]

CBA have cut rates by 20 points – effective 13/05

Cheers

Jamie

Thanks for the kind words Matt :-)

Chris – I’ve replied to your PM.

Cross coll can cause issues – and there’s no reason why your purchase needs to be set up in such a way. Unfortunately – some brokers/bankers just don’t know any better.

Cheers

Jamie

Yep – the Melb market certainly appears to be in favor of sellers ATM. It’s rising – that’s for sure.

Cheers

Jamie

Hi Matt

Generally speaking – I’d recommend IO for an investment if the client a) has an owner occupied loan or other non deductible debt they could pay off first or b) they don’t have any non deductible debt right now – but may do so in the future.

One of the only times where I’d recommend against IO is where the borrower isn’t disciplined with…[Read more]

At least their transparent about their pricing :-)

Cheers

Jamie

It’s a 1.28% discount off their standard variable rate :-)

All banks have different standard variable rates though – so it’s not so much the size of the discount that’s important but rather the net rate after the discount is applied.

Cheers

Jamie

Do you have a broker? They’ll be able to advise.

Most recent I arranged for this sort of deal was 4.38% with Nab broker.

Pretty sure 4.38% is ING’s advertised rate at present too.

Most of the other majors will come close to this – it has to be formally requested via their pricing channels.

Cheers

Jamie

Hiya Chris

Kev hit the nail on the head – it’s lender specific. Best bet is to call your bank/broker and ask them the question.

Either way – when it reverts to variable, you’ll be able to access those funds one way or another.

Cheers

Jamie

Hi Master

Give him a buzz – sometimes new emails from new clients get caught in spam filters. Especially if you use words like “loan” etc in the subject heading.

Cheers

Jamie

Nope – you can have multiple loans with the one lender and still keep them uncrossed.

Cheers

Jamie

Hi Raj

You can take out a loan under joint names with a spouse (so for instance – have you as both applicants on the loan application) but just yourself on the title of the property and therefore the person claiming 100% of the deductions. Is that what you meant?

Cheers

Jamie

Hiya

Is that $50k being used for IP purposes down the track? If so – simple solution is to put the $50k back into the loan and redraw for future use when needed (just don’t redraw for non deductible purposes like trips to disney land).

Cheers

Jamie

Agree with Corey – business can be done from anywhere these days BUT if you need face to face, Pete’s your finance nerd.

Cheers

Jamie

Hi Arron

Welcome aboard.

Don’t rush into anything. Educate yourself -read up, learn and ask questions.

Forums like this are a good source of free information.

There’s a number of good authors out there too – check out books from McKnight, Lomas and Somers to name a few.

Pick up the odd copy of API magazine as well.

After you’ve done some…[Read more]

Which lender are you with Tugger?

How much are they going to sting you for those break costs?

Cheers

Jamie

If your company financials are strong enough – then you can apply for full doc.

Be careful with the low doc route – you need to ensure you can actually afford the loan.

Cheers

Jamie

Agree with Corey.

Set yourself up with a good team of professionals that you assemble (not a one stop shop) – finance person and accountant are the most important IMO.

Absorb as much info as you can. Read up – forums like this are a great resource. There’s plenty of good books as well.

Cheers

Jamie