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The limit of the LOC will have an effect on your borrowing capacity the same way any loan does. It is possible to borrow 60% of a property's value with almost no questions asked. Having an unencumbered property gives you plenty of scope to get access to a lot of equity fairly easily. I...

Approval In Principal - this is a pre-approval. From what you've described, your pre-approval sounds solid. A lender granting a LOC would want to know what the funds will be used for, but this shouldn't be too hard to get around. A specific valuation on the proposed property shouldn't be...

Be careful of mortgagee auctions. Everyone seems to think they're a bargain, and for that reason they rarely are. If you've got a line of credit available for the full purchase price, you can effectively pay cash for the new property. There shouldn't be any need for the lender to take the new...