loan me cash advance

Dale and his lover got paying off their home financing getting 3 years in advance of it decided to make the leap and you can buy its very first money spent.

They’d cleverly been while making a lot more money on their financial during the this time and you may, courtesy growth in the worth of their residence, its Financing to help you Value Ratio (LVR) was at 80% of the property worth.

The couple refinanced their property loan and you may accessed certain equity and you may combined that it with many of one’s own offers to use just like the good 10% deposit to your a great tool inside an excellent neighbouring area.

Dale chose good step three-12 months focus simply title making some extra payments on their repaired price resource financing and in case he obtained overtime so you’re able to dump a number of the idea.

This new repaired speed minimal Dale to creating all in all, $10,000 annually when you look at the additional money but which worked well to possess the brand new couples’ financial predicament.

In the latest 12 months away from his notice merely period, Dale plus began placing an extra $fifty weekly towards the his counterbalance account just in case the guy had a need to supply that cash. Lire Plus