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Home loan "available balance"

Posted by Abbey Abbey
Message 1 of 4 2,368 Views

I pay extra into my home loan, Can I transfer the "available balance" to pay off my credit card?

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Re: Home loan "available balance"

Posted by poseidon poseidon
Message 2 of 4 2,356 Views

I know I can do it with mine @Abbey. I've got a variable rate loan. I say this because when I had a fixed rate I couldn't move money out of that. I just do it in online banking. Hope this helps anyway

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Re: Home loan "available balance"

Posted by ashwsw ashwsw
Message 3 of 4 2,345 Views

Hey @Abbey, yes sure you can on the variable loans. I do it with mine, or you can just put extra money in your offset account then transfer to your credit card when its due,..

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Re: Home loan "available balance"

Posted by SarahF SarahF
Message 4 of 4 2,342 Views

Hi @Abbey,

 

I hope @ashwsw and @poseidon were able to help answer your question Smiley Happy As they mentioned it may depend on your home loan type however if you have the ability to redraw (variable home loans do) you can then redraw your surplus funds to put on to your credit card.

 

Feel free to mark one of the responses as the solution if its helped.

 

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