Hi.
Ive read prior post but still confused.
currently i have a ppor say as an example worth 500k and owe 200k. Looking to get a loan for an IP and bank suggested cross collateral since i can use my equity of 300k.
Wondering how i can avoid cross collateralization? Do i just ask my bank to not cross collateralize? If they cant do i go to another bank or broker? Any suggestions for sydney? Also how would i access the equity if i apply for the loan with another lender?
Thanks all.
Ive read prior post but still confused.
currently i have a ppor say as an example worth 500k and owe 200k. Looking to get a loan for an IP and bank suggested cross collateral since i can use my equity of 300k.
Wondering how i can avoid cross collateralization? Do i just ask my bank to not cross collateralize? If they cant do i go to another bank or broker? Any suggestions for sydney? Also how would i access the equity if i apply for the loan with another lender?
Thanks all.