Hi first time poster here! I am no maths guru so I hope you can help me out!
I have a 500,000 existing loan that I am re structuring. The rates I have available are
I have a 500,000 existing loan that I am re structuring. The rates I have available are
- Variable 3.35%
- Fixed 2.69% (for 2 or 3 years options)
- I have $300,000 cash on hand.
- The variable loan can be offset by this cash. Ie if the variable loan is 400k and I have 300k in the offset account I would only pay interest on 400k-300k=100k
- Loans will be Interest Only.
- I would like to deploy appx $200,000 elsewhere in 12-24 months.
- What is the best way to split this 500k loan and how long is the optimum period to fix the interest split for?