longest i/o loan

Viewing 9 posts - 1 through 9 (of 9 total)

fullout
Member
@fullout
Join Date: 2003
Post Count: 233
September 13, 2003 - 1:03 pm
DOes anyone know whats the best deal out there for Interest Only loan?
Has St George started its 15 year (or 10?) i only loan?
What other lenders have good deals?
Currently I am with Homeside, and they only have the max of 5 years.
sushi03
Member
@sushi03
Join Date: 2003
Post Count: 33
September 13, 2003 - 10:21 pm
Fullout,
If its any interest to you GE mortgage solutions have a 40 year P/I loan.
Regards
Alex[8D]
Fester
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@fester
Join Date: 2002
Post Count: 11
September 13, 2003 - 10:42 pm
Adelaide Bank gave me 10 years IO.
Stuart Wemyss
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@stuart-wemyss
Join Date: 2003
Post Count: 598
September 14, 2003 - 1:00 am
Fullout
St George is the longest IO period that I know of. Your alternative is a line of credit – they are IO indefinately (i.e. no loan terms and minimum repayments are IO).
Cheers
Stu
hgwells
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@hgwells
Join Date: 2003
Post Count: 127
September 14, 2003 - 2:47 am
yes the St G loan is available now and I think its one of the longest on offer. HG
Elysium-M
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@elysium-m
Join Date: 2003
Post Count: 259
September 14, 2003 - 5:08 am
But what kind of interest rate premium do you pay on these long term interest only loans?
Cheers
M
Andrewsal
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@andrewsal
Join Date: 2003
Post Count: 32
September 14, 2003 - 7:25 am
Hi Stu
With that line of credit you pay IO but isn’t the rate variable on a line of credit.
Andy[]
fullout
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@fullout
Join Date: 2003
Post Count: 233
September 14, 2003 - 9:10 am
what is the IO loan by St George called?
I went to their website but cant find it.
Mortgage Hunter
Participant
@mortgage-hunter
Join Date: 2003
Post Count: 3,781
September 14, 2003 - 10:04 am
St George don’t have a specific product. You may apply for up to 15 years IO on their products provided the loans aren’t subject to LMI ie under an 80% lend.
Simon Macks
Mortgage Hunter
[email protected]
0425 228 985
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.