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Are you an investor with an interest-only fixed rate home loan is your interest only and fixed rate term due to expire shortly if you pay interest annually in advance your payment will be due by June 30 to qualify for potential tax benefits and depending on your loan type you may need to have everything resolved an annual interest paid before end of financial year which this year falls on a Saturday here are some tips to help you get organized for your fixed rate loan roll over the several options available if you'd like to start a new fixed rate period that will end after your interest only period ends please call us on 136 5 we need to talk through the next step says you'll need to apply for a new loan this can take a few weeks to organize, so it's best we start as soon as possible if you'd like to start a new fixed rate period that will end before your interest only period ends you won't need to apply for a new loan just contact us to choose your new fixed rate period if you don't want to prefix your home loan interest rate then your loan will change to a variable rate at the end of the fixed rate period depending on what you need to do to update your loan the process could be a simple one that may just involve a phone call or submitting a form to prefix your age if we need to issue a new loan contract it's best to allow for weeks for the process to be completed you'll receive a letter advising you that your rate expiry period is approaching consider what your banking needs are, and we'll be in contact to discuss options and next steps paperwork must be signed by all parties to the loan application a lot of time for this to happen if joint owners live in different locations if your loan is subject to a guarantor new guarantees will need to be arranged within the new contract this will require the signatures of all involved parties allow time to get these signatures on your application and any other required documents if you need to apply for a new loan we may request additional verification documents if you're self-employed you may need to provide financial records dating back over the past two years from your accountant you may also need to provide company returns partnership returns or trust returns depending on your situation if you're employed as a pay employee you may need to supply payslips an updated property valuation may not be required in all cases but if it's needed allow 48 hours for your banker to arrange this for further information call 13 double 265 or drop into any net branch you
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