Browse Forums Home Finance 1 Feb 04, 2013 8:45 pm Settlement: 10.02.13 Slab: 06.03.13 Frame: 08.03.13 Lock-up: 05.04.13 Handover: 03.06.13 Build thread: https://forum.homeone.com.au/viewtopic.php?f=31&t=59555 Brisbane Photography Re: Interest only loans 2Feb 04, 2013 9:25 pm Land settled May '14. Building the PD Hoffman39: 5/11=site start, 13/11=slab pour, 26/11=frame complete, 10/12=roof on, 12/12=bricking started. Blog: http://jyndeira.net/blog/ Re: Interest only loans 5Feb 05, 2013 12:58 pm Michael Chan | Australia wide Mortgage Broker Michael@ShapeHomeLoans.com.au | 1300 74 5626 | Fax: 02 8212 8909 http://www.ShapeHomeLoans.com.au Re: Interest only loans 6Feb 05, 2013 2:03 pm Settlement: 10.02.13 Slab: 06.03.13 Frame: 08.03.13 Lock-up: 05.04.13 Handover: 03.06.13 Build thread: https://forum.homeone.com.au/viewtopic.php?f=31&t=59555 Brisbane Photography Re: Interest only loans 7Feb 05, 2013 2:05 pm Michael Chan | Australia wide Mortgage Broker Michael@ShapeHomeLoans.com.au | 1300 74 5626 | Fax: 02 8212 8909 http://www.ShapeHomeLoans.com.au Re: Interest only loans 8Feb 05, 2013 3:23 pm Settlement: 10.02.13 Slab: 06.03.13 Frame: 08.03.13 Lock-up: 05.04.13 Handover: 03.06.13 Build thread: https://forum.homeone.com.au/viewtopic.php?f=31&t=59555 Brisbane Photography Re: Interest only loans 9Feb 06, 2013 11:20 am Its correct. If you pay more than the interest amount, its just like paying the principal, however the extra you've paid will be available in a 'redraw', rather than reducing your principal. But as long as you reduce your balance, thats all that matters, thats what your interest is calculated on. Plus, you can always ask your bank to reduce your limit at any time. |