Usually one loan formed in two parts. Generally the loan is split between fixed and variable.
A loan which is divided into a number of loan splits for the purpose of allowing the borrower greater loan flexibility. For example, a borrower can have one split at a variable rate, and the remainder at a fixed rate. Alternatively a borrower can arrange one split as principle and interest repayments and another as interest only repayments to separate out borrowings for owner occupied purposes and borrowings for investment purposes.
a credit facility taken out with a financial institution under which there is one loan with sub-accounts being maintained in respect of that loan
One loan split into several different parts (eg: fixed and floating portions) (Also see loan structure)
where various loans are used to fund the same property. May have a portion variable, fixed or even a portion as a line of credit.
A loan that consists of part fixed rate and part variable rate.
This is a mortgage that is taken partly ona capital and interest basis and partly on an interst only basis.
A mortgage that has some of the loan set up on an interest-only basis and some on a repayment basis.
A combination of loan types forming one loan, such as a partial fixed/variable interest rate loan.
This is a mortgage that is taken partly on a Capital and Interest basis and partly on an Interest Only basis.
Some lenders allow you to split your loan into a fixed interest rate component and a variable interest rate component, giving the borrower a combination of the security of a fixed loan and the flexibility of a variable loan.
When more than one loan product is bundled into the one loan. The most common form of splitting, is when part of the loan is on a varying rate of interest and another part is on a fixed rate.
A split loan is a loan that you can divide up or 'split' into separate components. Most red rock loans can be split up to 4 separate ways for example you may want a principle and interest portion of the loan to reduce loan debt and increase equity in your option and you may require an interest only portion for easy tax deductibility. Contact Us today about how you may benefit from split loan options