HI Andrew
In both cases its probably closer to a refinance or top up depending on the loan used.
Your loan contract would need to be redone everytime you borrow more against increased equity and it doesnt matter if its LOC or term loan
Ta
Rolf
Hi KM
Thats a very good explanation
AND be aware of some products marketed as lines of credit which are actually fully drawn advances on term loans with redraw.
It is a misued generic term
Ta
Rolf