PPOR - Heartland Bank, credit ratings, only Fitch BBB, what is worst case scenario?

[OnTheMove]

Looking at some of the amazing rates out there at the moment, but also listening to all the talk about rates rising.

Heartland Bank are offering great deals, ie 1yr 1.85%, floating rate 1.95%.

They do not have a S&P rating, only a Fitch of BBB.

What is the worst case scenario if a Bank goes under? Are we left with a $600k debt and who too?

[donna]

Is anyone here using Heartland Bank? Is their offer just for PPOR or rentals too?


cheers,

Donna