I posted a thread a whole ago about my relationship with Suncorp and accessing equity out of a couple of investment properties,
Today my car packed it in so I phoned the bank to see about money options, they suggested a equity loan on one of my properties
The thing is this property wouldn't be worth more than 280 but 6 months ago they did a residex on it for loan change to variable and it came in at 330 and this is the one they used instead of the full val
When I asked what val they would use for the equity loan they said the residex would be fine
My loan on the prop is 250
What should I do, cause now I'm thinking I could get the cash out , mix it with my savings and buy another house with another lender
I'm not sure why sc did a residex instead of a full val,
Thanks in advance
Today my car packed it in so I phoned the bank to see about money options, they suggested a equity loan on one of my properties
The thing is this property wouldn't be worth more than 280 but 6 months ago they did a residex on it for loan change to variable and it came in at 330 and this is the one they used instead of the full val
When I asked what val they would use for the equity loan they said the residex would be fine
My loan on the prop is 250
What should I do, cause now I'm thinking I could get the cash out , mix it with my savings and buy another house with another lender
I'm not sure why sc did a residex instead of a full val,
Thanks in advance
