All Topics / Help Needed! / Interest only investment loan

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  • Profile photo of PropertySeekerPropertySeeker
    Participant
    @propertyseeker
    Join Date: 2006
    Post Count: 43
    February 24, 2015 - 8:03 pm

    Hi everyone,

    I’m thinking of switching some of my investments to interest only. It seems heaps of investors do this, however I’m concerned about when it expires, what do investors do then? Do they sell off? Do the refinance to a different lender?

    Thanks
    PropertySeeker

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    February 24, 2015 - 8:17 pm

    Hiya

    You either extend the IO term or refinance to another lender.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010
    February 24, 2015 - 9:21 pm

    Some lenders will allow you to extend your interest only period through a simple call/email/form which you may here referred to as ‘tick and flick’, others will require an internal refinance. If they won’t allow an internal refi to give an extension, there’s always other lenders.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

Viewing 3 posts - 1 through 3 (of 3 total)

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