I have a couple of questions regarding wrap probably asked many times before, here they go:
1. For a long term (more than 10 years) wrap, do you use variable or fixed rate interest with your lender. What happen when the interest rate changes or the 5 year fixed term completes, do you change the rate with the wrap buyer as well? Will it make the repayment amount really messy to calculate?
2. Where can I find a wrap friendly lender/broker in Melbourne with rates close to a normal loan?
Thanks in advance for the answers.Hi,
quote:
1. For a long term (more than 10 years) wrap, do you use variable or fixed rate interest with your lender. What happen when the interest rate changes or the 5 year fixed term completes, do you change the rate with the wrap buyer as well? Will it make the repayment amount really messy to calculate?I leave this up to the client I wrap to and piggyback their choice with my lender.
Repayments can be messy to calculate, which is why I use software to do all the hard work.
quote:
2. Where can I find a wrap friendly lender/broker in Melbourne with rates close to a normal loan?Ah, the million dollar question. The answer is not ‘where can I’, but ‘how can I’? There will be at least one at the upcoming Australian Masters of Property Investing Seminar waiting on you to network with him at the event.
Bye,
Steve McKnight
Edited by – [email protected] on 08/07/2002 4:23:52 PM
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
The topic ‘interest rate changes’ is closed to new replies.
