avoiding cross collateralisation

Discussion in 'Loans & Mortgage Brokers' started by Brad81, 19th Jun, 2015.

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  1. Brad81

    Brad81 Active Member

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    Ok got the message, thanks very much for your help guys.
     
  2. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    Big Will and Terry_w like this.
  3. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    Hi Brad, you'd need either a 'normal' standard variable or a LOC, but not both. They are just different ways of achieving the same end result.
     
  4. Brad81

    Brad81 Active Member

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    Thanks Jess now..... Where to buy:(
     
  5. Brad81

    Brad81 Active Member

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    Would you say one is better than the other? Or are both just as effective depending on your circumstances?
     
  6. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Canberra - it's going to go up, up, up.

    What do I know though - I'm a biased local business owner who owns IPs in the area so I have a vested interest ;)

    Cheers

    Jamie
     
  7. Brad81

    Brad81 Active Member

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    And even though you may be bias...... Where would someone start to research ..... Within the Canberra region of course
     
  8. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    They are both fine, LOC has a higher interest rate usually and is repayable on demand, and SVR with offset works in a similar way but a little more clunky having two accounts instead of just one.
     
  9. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Not in the new areas - and not units/townhouses.

    I'd look at suburbs within 5 km radius of the CBD - particularly the inner north (again - I live and work in the area so hugely biased).

    Young families are moving in as the oldies downsize/move out. Drive around some of the suburbs (Dickson, Ainslie, Downer, Watson, etc) and you'll see new builds going up, houses being renovated and small developments.

    Won't be cheap though - expect to budget upwards of $600k for detached house (even that might be too low at present).

    cheers

    Jamie