I/O loan

Viewing 9 posts - 1 through 9 (of 9 total)

fullout
Member
@fullout
Join Date: 2003
Post Count: 233
September 16, 2003 - 10:54 am
I called St George today, and seems the 15 years int only loan everyone is raving about, is a variable loan? not a fixed??
oh me god! SO what other good FIXED IO loans are there? any help?
Mortgage Hunter
Participant
@mortgage-hunter
Join Date: 2003
Post Count: 3,781
September 16, 2003 - 11:21 am
You want to fix for 15 years?
I don’t think there is a product out there to do that!
Simon Macks
Mortgage Hunter
[email protected]
0425 228 985
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
hgwells
Member
@hgwells
Join Date: 2003
Post Count: 127
September 16, 2003 - 11:28 am
I understood it was both – was offerred it recently as either fixed or variable or a combination of both. HG
fullout
Member
@fullout
Join Date: 2003
Post Count: 233
September 16, 2003 - 11:32 am
hgwells,
which bank is it?
HOw come when i called them the lady said “ph nono, only variable for 15 years.”
So did u take the offer for the fixed 15 years?
Mortgage Hunter
Participant
@mortgage-hunter
Join Date: 2003
Post Count: 3,781
September 16, 2003 - 11:34 am
mmmmm…
I will check tomorrow but I understand that there is a max fixed term of 5 years and that can be IO if required.
But I may be wrong.
Cheers,
Simon Macks
Mortgage Hunter
[email protected]
0425 228 985
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
fullout
Member
@fullout
Join Date: 2003
Post Count: 233
September 16, 2003 - 11:15 pm
Mortgage Hunter,
so did u find out what it actually is? Fixed or Var?
Stuart Wemyss
Member
@stuart-wemyss
Join Date: 2003
Post Count: 598
September 16, 2003 - 11:22 pm
My understanding is that the loan is IO for 15 years but the maximum fixed period is 5 years.
ANZ, Westpac and NAB offer 10 year fixed rates (around 7%). ANZ offers interest only for years IO.
10 years is the maximum fixed period that I know about.
Cheers
Stu
Mortgage Hunter
Participant
@mortgage-hunter
Join Date: 2003
Post Count: 3,781
September 16, 2003 - 11:28 pm
Fullout,
As Stuart says…
Cheers,
Simon Macks
Mortgage Hunter
[email protected]
0425 228 985
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
fullout
Member
@fullout
Join Date: 2003
Post Count: 233
September 17, 2003 - 5:35 am
THanks Mortgage Hunter!
U have been extremely kind for offering your help! Solved my prob read quick.
U are the man! I will definitely be recommendin my friends to your business in NSW! Anyone in NSW should go see Mortgage Hunter too when they need to get a homeloan- friendly, helpful, AND extremely fast response (your communications lines must be red hot!) []
Boy i am so tired from not sleeping the whole night calculating out the loan thingy…
once again, thanks!