Hi all,
I've been floating around the forums here for quite some time and im after a long time on the sidelines we're about to buy our first IP. But first things first i want to get some finance issues out of the way first so i thought i get those that are in the know to chip in thoughts.
As i've just started a new job we probably wont apply for any finance for around 6 months but in the mean time i want to switch our PPOR to IO so by doing this will we trigger a credit check that could interfere with our future loan application in the coming months?
If anyone can give me an idea of what to expect with this it would be greatly appreciated!
Nick
Hi Nick
Welcome to the forum and i hope you enjoy your time with us.
It will all depend on who your current lender is.
With some it is a simple project switch form whilst with others it is a full on application and being on probation could cause a problem.
All being equal a credit search if required will not be a problem going forward.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Thanks for your quick reply Richard. We're with the CBA and we dont have any part of the loan fixed, its all on variable so i guess the best thing to do is ask them and see what comes of it.
Thanks!
Nick
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