i've been looking into margin lending from ASB and this thread has been helpful.
So the way I see it, I can borrow a certain amount based on shares already in my portfolio, and can buy more shares with this borrowed money.
Then I'm charged interest monthly (can't find the interest rate online, but I assume it's not outrageous) on what I've borrowed.
I'm also charged $250 per year for the service.
So all I have to do then is to make the borrowed money work for me to cover the interest and the fee, and I keep whatever extra profit I'll hopefully make?
Is there anything else I need to know?