Hi SSers,
I'll start by saying what a great resource this forum has been for a budding property investor such as myself, thank you all for your contributions so far!
With pleasantries out of the way, here is my question: For my first IP, I am currently on a 450k variable loan (80%) with westpac at 4.93%.
Having had a look online, I found citi bank offering a lucrative rate of 4.68%.
My ultimate strategy is to maximise my borrowing through refinances to build up my portfolio (I know a great broker will go along way to achieving that).
With that said, my question are the following
-Is the Westpac loan I am currently on a good starting step to achieving my goal? Is it a good deal in terms of %?
-I know Citi bank has a better rate, but will switching to them be a hindrance towards my ultimate goal? I heard that are a pain to deal with when it comes to refinancing.
I'll start by saying what a great resource this forum has been for a budding property investor such as myself, thank you all for your contributions so far!
With pleasantries out of the way, here is my question: For my first IP, I am currently on a 450k variable loan (80%) with westpac at 4.93%.
Having had a look online, I found citi bank offering a lucrative rate of 4.68%.
My ultimate strategy is to maximise my borrowing through refinances to build up my portfolio (I know a great broker will go along way to achieving that).
With that said, my question are the following
-Is the Westpac loan I am currently on a good starting step to achieving my goal? Is it a good deal in terms of %?
-I know Citi bank has a better rate, but will switching to them be a hindrance towards my ultimate goal? I heard that are a pain to deal with when it comes to refinancing.