Refinancing and Structuring advice.......please

Viewing 5 posts - 1 through 5 (of 5 total)

Gavalynn
Member
@gavalynn
Join Date: 2003
Post Count: 13
July 20, 2003 - 11:55 am
Hi
Planing to buy property. Still have home loan which will have to be refinanced.
How should I structure the new loan??? Please….
hwd007
Member
@hwd007
Join Date: 2002
Post Count: 247
July 20, 2003 - 12:16 pm
largely depends on your circumstances, but general IPs are interest only, until you have paid out your home mortgage in full.
cheers.
AD
Participant
@ad
Join Date: 2002
Post Count: 636
July 20, 2003 - 1:14 pm
Talk to your bank or a broker. Guys like Stuart on the forum can help (www.prosolution.com.au) . There are others here as well and/or ask your friends who they have used and felt comfortable with. Make sure though thatthe broker is an investor or works with investors. THey need to understand where you are coming from and why you are doing what you want to do.
Enjoy
AD [:0)]
(Andrew)
“Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved.”
Saskatoon
Participant
@saskatoon
Join Date: 2002
Post Count: 112
July 21, 2003 - 11:07 pm
Hi Gavalynn.
I agree with Andrew (of course!), but be careful if you are talking to bank staff about finance structures. They know about their own products, but may not be investors. I finished up explaining to our ‘personal banker’ what a trust was and why we were using one.
Terry
Terence McMahon
HomeWin
Finance
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
July 22, 2003 - 10:50 am
“be careful if you are talking to bank staff about finance structures. They know about their own products”
Sometimes they don’t even know about their own products!
Terryw
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Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
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Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au