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Ralph Wiggum

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  • Member For: 13y 8m 6d
  • Gender: Male
  • Location: South West QLD

Lol.. jet Star moment right there..

Anyway

Signed the contract on the house.

Met with bank.

Going with the offset account option. And technically borrowing about half the value of the house. Gives me a rainy day fund and let's me consider doing the stuff I want.

Plus monthly payments will come automatically out of the offset account which I'm not paying interest on anyway.

The way the dude explained it basically was if you lose your job you still have money. And if you make minimum repayments (even though you aren't paying interest), you've still got money to live on.

It'll do. I just can't terminate the loan inside 18 months or I'll be up for massive fees

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  • Too heavy needs boost
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  • Member For: 11y 8m 1d
  • Gender: Male
  • Location: Adelaide

I just settled my refinance yesterday. Went the off set and borrow back to the 80% limit. So the coin is in the bank. Interest free cash.

Now what to do with it.

I have paid 70k down in 5 years but the job is not paying as much as it did and with gov is laying off people all over so if anything happened and I got the boot should be safe for 9 months to a year easy.

6pot brembos sound good to. Lol

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  • All stock bar the k&n panel filter
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  • Member For: 13y 24d
  • Gender: Male
  • Location: Perth
  On 27/03/2015 at 10:16 AM, Never had any say Panda said:

Lol.. jet Star moment right there..

Anyway

Signed the contract on the house.

Met with bank.

Going with the offset account option. And technically borrowing about half the value of the house. Gives me a rainy day fund and let's me consider doing the stuff I want.

Plus monthly payments will come automatically out of the offset account which I'm not paying interest on anyway.

The way the dude explained it basically was if you lose your job you still have money. And if you make minimum repayments (even though you aren't paying interest), you've still got money to live on.

It'll do. I just can't terminate the loan inside 18 months or I'll be up for massive fees

Congrats Brendo!

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  • Bob the Freaking Builder
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  • Member For: 15y 6m 25d
  • Gender: Female
  • Location: SA
  On 27/03/2015 at 10:16 AM, Never had any say Panda said:

Lol.. jet Star moment right there..

Anyway

Signed the contract on the house.

Met with bank.

Going with the offset account option. And technically borrowing about half the value of the house. Gives me a rainy day fund and let's me consider doing the stuff I want.

Plus monthly payments will come automatically out of the offset account which I'm not paying interest on anyway.

The way the dude explained it basically was if you lose your job you still have money. And if you make minimum repayments (even though you aren't paying interest), you've still got money to live on.

It'll do. I just can't terminate the loan inside 18 months or I'll be up for massive fees

God I hate being right so often :P

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