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Quick Update Wednesday Got call from broker, - bank has agreed to release the land from the loan - Good Thursday Letter from bank, - they will release the land ONLY if I make a payment off the loan principal of approx 10% on settlement. - Bad Surprise Surprise, after discussing with the...

G'day All For Paul and anyone else interested. The bank has released the land from the loan and my broker believes it will cost me $150 although I haven't heard from the bank yet. This now gets me wondering about these cross collateralised loans. I know that everything regarding the...

G'day and thanks for the responses. This loan was set up through a finance broker. I went back to them to see what could be done and we think there will be enough increase in value on the other securities in the loan so we won't have to put any of the proceeds from the sale of the land back...

Thanks Rolf, The loan is with Colonial/CBA. I will be speaking to them today. I think the main problem will be that I will have needed the other property values to have increased by as much as the land value so the loan can stay as it is. The trouble with that is the loan has only been...

G'day All I have one investment loan covering several properties. (I now know that this may not be such a good idea but that's another issue). All of the properties used as colateral for this loan are income producing except one which is a vacant block of land. The vacant land was used to...