BlackHound
New Member
- Messages
- 7
Hi,
We are in conversations regarding mortgages at the moment, with the current pricings its difficult to know how much we need.
From talking to some banks - they are providing the option of taking out a more than enough mortgage and then only drawing down what you need.
Has anyone done this before?
Are there any gotchas to be aware of? (other than overspending & not being disciplined yourself)
Are there any financial penalties of not drawing down the mortgage?
Thanks in advance!
We are in conversations regarding mortgages at the moment, with the current pricings its difficult to know how much we need.
From talking to some banks - they are providing the option of taking out a more than enough mortgage and then only drawing down what you need.
Has anyone done this before?
Are there any gotchas to be aware of? (other than overspending & not being disciplined yourself)
Are there any financial penalties of not drawing down the mortgage?
Thanks in advance!