Quote:
Originally posted by rowan
I have to pay tax at the end of each quarter, so I try to put most of it into a 4.75% p/a savings account near the start of the quarter.
Are home loans meant to be redrawn regularly?
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as long as you have a redraw facility it's ok - they make money on the redraw fee, it's not much but they don't care. It would only be once a year, Plus I can't be assed getting taxed on the Interest from a high interest baring account.. it's shits me.
I guess the other thing im looking at is in 6-12 months when I want to buy another house the 6 months of bank account slips they'll want will show huge amounts of repayments each month.