Forum Replies Created
Gday STeve Just to let you know that since your appearance on today tonight nearly all book stores in perth have sold out
COngratulations on that however i am waiting for my copy which i ordered online
Once AGain CongratulationsNot sure why you need 20%
When i brought my first house i went through KEystart Loans which is government Based there Was very little Deposit Needed and they helped me with the fees asscociated. I stayed with them for about two years and got $38000 Equitity in my house then refinanced to a national flexiplus mortgage. I should own my house in about 5 years.quote:
Don’t have much time but feel I have to respond.1. Most IO periods are for 5 years. ANZ offers 10 years and St George offers 15. An indefinite IO period = LOC.
2. LOC are often a waste of money – too expensive. Normally only 1 out of 10 people that think they need a LOC actually do. You are better off (from a cost perspective) to use an offset or basic loan.
3. St George’s LOC is ok but too expensive.
– High ongoing fees ($10 per month, per sub-account)
– Break fees of $1,000 for 3 years.ANZ’s LOC is much, much better (higher interest rate discounts, less fees, no break costs).
I’m writting an article for The Australian about LOC’s and will let you know when its published.
Cheers
Stu
Property & Finance News
at http://www.prosolution.com.auLOC is working for me to pay off my PPOR as i am self employed and have my tax sitting in the account for the month as well.
quote:
Don’t have much time but feel I have to respond.1. Most IO periods are for 5 years. ANZ offers 10 years and St George offers 15. An indefinite IO period = LOC.
2. LOC are often a waste of money – too expensive. Normally only 1 out of 10 people that think they need a LOC actually do. You are better off (from a cost perspective) to use an offset or basic loan.
3. St George’s LOC is ok but too expensive.
– High ongoing fees ($10 per month, per sub-account)
– Break fees of $1,000 for 3 years.ANZ’s LOC is much, much better (higher interest rate discounts, less fees, no break costs).
I’m writting an article for The Australian about LOC’s and will let you know when its published.
Cheers
Stu
Property & Finance News
at http://www.prosolution.com.au
