Hi all,
Can someone explain and advise perhaps on the following?
I'm looking to use equity in my IP (once PPOR until relocated due to work) to purchase another place that will become my PPOR.
I've had advice from an independant M/Broker who suggested a competitive product from BankWest that was structured as a 100% Offsett loan, however as nice as the broker was I felt that he was swamped with work and did not spend the time with me that I needed to help understand other products on the market etc. (what do I expect for free)
Anyway,
After reading through this invaluable Forum it has opened my eyes to using a LOC from my IP to purchase my next property.
Can someone elberate on how this would work....
e.g.
would i be right in assuming that an LOC would be more benifical in the fact that both properties would be seperately morgated and therefore more independant in times of trouble?
Thanks in advance.
Marco
Can someone explain and advise perhaps on the following?
I'm looking to use equity in my IP (once PPOR until relocated due to work) to purchase another place that will become my PPOR.
I've had advice from an independant M/Broker who suggested a competitive product from BankWest that was structured as a 100% Offsett loan, however as nice as the broker was I felt that he was swamped with work and did not spend the time with me that I needed to help understand other products on the market etc. (what do I expect for free)
Anyway,
After reading through this invaluable Forum it has opened my eyes to using a LOC from my IP to purchase my next property.
Can someone elberate on how this would work....
e.g.
would i be right in assuming that an LOC would be more benifical in the fact that both properties would be seperately morgated and therefore more independant in times of trouble?
Thanks in advance.
Marco