Hi everyone,
Looking to purchase another IP and trying to organise the best way to structure finance.
PPOR is in wife's name (asset protection purposes) with CBA and we have enough equity to cover the deposit (second loan to pay balance will be secured by IP)
I want to purchase this in my name- is it possible for me to get a loan to cover deposit and closing costs guaranteed by equity in property held in her name?
Is this the best way to structure it or is it better to get a line of credit to pay deposit and closing costs?
Will we have to use the same lender to do each loan or am I able to continue with Bank SA if I choose?
Thanks,
Luke
Looking to purchase another IP and trying to organise the best way to structure finance.
PPOR is in wife's name (asset protection purposes) with CBA and we have enough equity to cover the deposit (second loan to pay balance will be secured by IP)
I want to purchase this in my name- is it possible for me to get a loan to cover deposit and closing costs guaranteed by equity in property held in her name?
Is this the best way to structure it or is it better to get a line of credit to pay deposit and closing costs?
Will we have to use the same lender to do each loan or am I able to continue with Bank SA if I choose?
Thanks,
Luke