Articles - Interest-only customer scenario

Interest-only customer scenario


Married couple Mary and Luke both work full-time as PAYG employees. They live in a two-bedroom apartment close to the CBD that they jointly own, and also have an investment property in QLD.

Starting a family and upgrading their owner-occupied home is top-most in their minds, and they want to raise an additional $100,000 over the next 2-3 years.

Their mortgage broker has recommended that they consolidate their credit card debt and refinance both their owner-occupied and investment property loans.

Their broker is aware Resimac is currently running two promotional offers that will benefit them by way of lower interest rates. The first is a bundle offer, whereby borrowers who refinance both their owner-occupied and investment loans can take advantage of the lower owner-occupied rate for their investment loan. The second is an interest-only offer, whereby the additional IO loading is waived – a difference of roughly 30 basis points. Essentially, this makes the interest rates for Resimac’s IO loans similar to its P&I loans.*

By utilising Resimac’s offset account and switching to interest-only, Mary and Luke can save approximately $15,000 pa on their home loan repayments, which works out to be close to $60,000 over three years. Additionally, they can claim the interest-only payments on their investment property as a tax deduction. 

They are conscious that they won’t be paying any principle off the loan while they’re paying interest-only, but they consider this to be an acceptable trade-off for enabling them to purchase a bigger home and start a family.

For more information about Resimac’s interest-only products or to workshop a customer scenario, please reach out to your BDM or Relationship Manager.


* Principal and interest level rates are not fixed and therefore may fluctuate depending on market conditions.

Latest stories

Back to top
panel clost button

I'm a customer

If you're an active customer then login to Loan Enquiry to view your online account balance here.

Essential Website Maintenance
Please be aware that Loan Enquiry will be undergoing maintenance and it may not be available during
the following times:
8:00pm – 8:30pm (AEST) on Wednesday 21 April 2021

We apologise for any inconvenience this may cause.

I'm a broker

Access our online loan submission system (RESIQ), loan scenario information, full product information and more.

Due to planned server maintenance, our Broker Login page will not be available on Sunday 27th February between 2:00am and 6:00am AEDT.

We apologise for any inconvenience caused.