Hi I'm looking around for interest only finance for an Investment property.
I tried to make a few enquiries over the phone but noticed that I can't get a straight honest answer from
most finance companies.Can someone give me a guide as to how much the current Interest rate would be.
I would need aprox. $220 000 over a period of 5 to 10 years
The interest rate would be the same as I am not aware of too many lenders that charge a higher rate for an IO loan over a P & I loan. The rate is not the issue the way in which the loan structured is probably more of a consideration.
Why not post a bot more information and we can provide you with a clearer answer.
Richard Taylor | Australia's leading private lender
The other reason you may not be getting a straight answer as most lenders have numerous products and it would depend on the product chosen as to the I/O component, and I agree with Richard structering the loans correctly can be far more important than the rate
ok guys let me re-phrase the question… is there a chance that I could get an Interest only loan lower than 7%
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