Latest is builder is talking about wanting me to depoist funds into a joint trust account to cover cost of building DUE TO ME NOT HAVING a bank building loan
Because I already have the loan funds they say I could spend the funds on something else. If I had a building home loan they argue that the bank would control the monies via the progress payments.
This is all good for them but means me drawing down on my MISA account, which means I am paying interest when I dont need to - effectively cotsing me more.
Anybody else built and effectively paying cash and had this scenario?