Hi, I have a question regarding getting access to finance from private investors. You see, I have a mortgage that is fixed rate of %8.2 what I am intending to do is inject $40k into my mortgage each year, why $40k because that is the amount that I am allowed to pay with no penalties.
Now if I can find some one or an organisation that is earning the current term deposit rate from the bank, lets say %5 then I can offer them %6 variable, so if the bank rate drops my interest rate will be adjusted to reflect the rate changing.
So the lender of the fund will always make %1 to %1.5 above the current term deposit, and I will save money on the rates dropping. Kind of a hedge.
Now do you know a product out there that I can take out or perhaps private funds via a solicitor and or accountant?
