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thank you. I noticed these problems while visiting the area. Petrol tanks will not go anywhere else in the forseeable future…that's a problem…Footscray, I head, is not a safe place.. the unemployment rate is very high…
Thank you both. i've made an appointment with a broker at the bank. I'll see what she'll say. the person I spoke to on the phone was actually from the home loan department. I don't know why she said the line of credit was the credit card. I later found out on their website that they have another loan product that has LOC. but that product charges 0.1% more than my current loan.
Terryw wrote:You should also be very careful in taking advice from a bank from a tax point of view. They will advise you that a 100% offset account is no better than a LOC when this is plainly not the case.Hi Terry, can you pls explain more?
forgot to ask another one.
the lady at st george mentioned "capitalised". she said if the replayment is capitalised, then I can't redraw. what does this mean?if i'm going to make a one-off repayment, do I have to instruct them not to capitalise it if i want to redraw at a later date???
If the bank has this redraw facility at the low cost of 10-20 dollars, what's the point of keeping my savings in my offset account? (I keep my savings in the offset account for emercencies. )what's the difference between keeping the savings in the offset account and paying off to reduce the loan.sorry. to correct my question in the first post, my offset account is not a fully transactional account. not sure what types of transactions my offset account can't do..
very very confused…each question i have will create more and more questions for me…
anyway..i agree you get more info from brokers than from banks.
hahha.. you're listening to two brokers.
too complicated….
thank you QLDs007!
I have a similar question.
i bought a property for 415k, now i owe 358K. I currently re-pay 2000 dollar per fortnight. this property is PPOR.
I'm not 100% happy with this property as my long term PPOR, because it's far from where I work. it's 20K from Melbourne city.
So in a few years time, I will either sell it or use it as an investment property.(the later will be more likely)Later this year (Probably sept or Oct 09), I plan to buy an investment property closer to the city. I have 25K savings in my offset account and need to build more cash to pay for every cost in acquiring an investment property. I want to structure my current loan and the coming investment property loan better. How should I do it?
i believe 8 mins to 10 mins normal paced walking is ideal. 15 mins can be called "walking distance to the train station!"
within 5 mins will be too noisy, especially during the night. (of course, that your road is parallel to the railway is a different story)damage to the structure is minimal, as properties are usually not allowed to be built right on the railway line.
no advertising here??
i'm in melbourne and I paid the same amount, too. I guess it's normal.
I dream of having a car for myself. But you know, I don't have a car.
My husband has a car. He bought it off from his dad. we pay 200 dollars per fortnight for four years to his dad.
Of course my husband is the sole driver. I never get a chance to drive it.I dream of having an economical Japanese car with all the safety features, so i can travel without my husband!
Agree with the person upstairs. The size of the loan is too large.
consider a loan four times your yearly gross income.
get someone (your parents?) to be your guarantor. Tell the bank that you're going to rent the rooms out.
They can split the loan into a residential component and investment component.
