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  • Profile photo of RunwayRunway
    Participant
    @runway
    Join Date: 2010
    Post Count: 5
    February 9, 2011 - 11:36 am

    Hi Richard,

    I'm curios. What would you define as a 'flexible' product?

    I'm currently trying to filter all the lenders that are out there but it's all very confusing.

    Basically, I'm after an IO loan that has an offset account and which allows me to refinance my current PPOR so that I can access the equity (using a maximum 90% LVR). Of course, it also has to have the lowest rate available and minimum ongoing fees.

    Feel free to PM me if necessary.

    I'll be seeing my broker again soon but grateful for advice.

    Profile photo of RunwayRunway
    Participant
    @runway
    Join Date: 2010
    Post Count: 5
    February 9, 2011 - 7:28 am

    Hi Jamie,

    The broker said that they offer 'flexible' products and low interest rates.

    Upon investigation though, it seems their products have high ongoing fees. I wondering if this is done to offset the low interest rate.

    To me it's just another product. However, it's one thing to use a 'flexible' product and another to get superior service when you need it most. The ongoing operating and 'hidden' costs also concern me but that goes for any lender.

    Sounds like I need to go back to the mortgage broker and re-assess.

Viewing 2 posts - 1 through 2 (of 2 total)