I have currently one IP and one PPOR which is soon to become a IP as well. My IR is fixed 7.14% for three years with an annual fee of $300 (no other fees). Do you think this is a good deal or should I refinance when my second PPOR becomes an IP?
Any suggestions on a bank?
My properties earn good Capital Growth so should I go for a Interest only loan? (My current IP is IO.
Any suggestions please!
7.14% was probably a good rate at the time, but compared to todays rates it is a bit high. To change it you would be up for exit fees/break costs and these could be high. I suggest you ring your bank and ask them for a figure, and take it from there.
For what its worth, I have one loan fixed at 7.10% for a few more years too.
Terryw
Discover Home Loans
Mortgage Broker
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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