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Unsecured Borrowing to Invest in Shares

Discussion in 'Shares' started by Grar Industries, 14th Dec, 2007.

  1. Grar Industries

    Grar Industries Member

    Joined:
    13th Dec, 2007
    Posts:
    9
    Location:
    Brisbane, QLD
    Hi all,

    I have no residential or commercial property to use as security but I would like to establish a line of credit (or similar).

    To trade successfully in the market I need a facility with the following features:

    * The freedom to use the funds however I wish
    * Interest only
    * Low/no monthly fees
    * As mentioned above, I can't secure it with property!

    Please help! Any advice would be gold!

    Grar Industries.
     
  2. samaka

    samaka Well-Known Member

    Joined:
    30th Sep, 2007
    Posts:
    308
    Location:
    Sydney
    Do you already have a some shares? You can get margin loan against those?
     
  3. willy1111

    willy1111 Well-Known Member

    Joined:
    5th Jul, 2006
    Posts:
    54
    Location:
    Melbourne
  4. Grar Industries

    Grar Industries Member

    Joined:
    13th Dec, 2007
    Posts:
    9
    Location:
    Brisbane, QLD
    Sorry - I should've given a bit more detail ...

    I already have a margin loan but I'm not able to write put options (have since found out that Commsec allows this - thanks crc_error!)

    The ReadyCredit product looks good. However, I'd have to refinance soon after the 6 month introductory period is over - that interest rate is high!

    Thanks for the replies. Appreciate it.