All Topics / Finance / No redraw for companies at NAB

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  • Profile photo of Pro investorPro investor
    Participant
    @pro-investor
    Join Date: 2003
    Post Count: 108
    April 10, 2015 - 10:50 pm

    Hi everyone

    I’ve got a company trust with a few properties at the nab bank there all variable loans and I’ve been paying more than the minimum repayment the other day I went into see them to redraw some money out and they said companies can’t redraw on home loans. Is there a way of getting my extra money back out

    Thanks Rob

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    April 10, 2015 - 11:36 pm

    Is it the product that you are on?

    The company as trustee can apply for an increase to get access.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of Pro investorPro investor
    Participant
    @pro-investor
    Join Date: 2003
    Post Count: 108
    April 11, 2015 - 9:09 am

    The product has redraw on it cause the ones in my name I can do it but they called me up and said company can’t

    Thanks rob

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

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