Hi All
If I have two investment properties financed by the ANZ, I read somewhere that if I tried to draw down equity to purchase a third property (in this case, for a family home) and I got a loan from another bank for that third property, the second bank would lend less money than the first bank, given that they would be the second in line to be paid out in the event of a default.
If this is the case, to maximise my borrowing potential, wouldn't it be easier to just go with the ANZ rather than shop around with other banks as I probably won't be loaned as much money as I might need?
Any advice would be greatly appreciated.
cheers
Leilah
If I have two investment properties financed by the ANZ, I read somewhere that if I tried to draw down equity to purchase a third property (in this case, for a family home) and I got a loan from another bank for that third property, the second bank would lend less money than the first bank, given that they would be the second in line to be paid out in the event of a default.
If this is the case, to maximise my borrowing potential, wouldn't it be easier to just go with the ANZ rather than shop around with other banks as I probably won't be loaned as much money as I might need?
Any advice would be greatly appreciated.
cheers
Leilah