Reply: 3.2.1.1.1.1.1.2.2.1
From: Rolf Latham
Hi Anon
Good to see your back - we missed you
Even with non cross collateralised properties most investors would only pay one lot of fees for start up and maintenance.
I have one client who has 18 loans and splits without cross collaterisation, one lot of fees only.
I can see how getting one piece of paper for a statement can be beneficial if you have 10 ips.
I think there is also some confusion here in that you can have 100 loans with the same bank and not be cross collateralised.
Hence having 800 k with one lender in aggregated borrowings is no problem and yes can get good discounts on things.
Cross collateraisation invloves using the equity from one property to provide a security or collateral deposit to another property loan. Commonly this can involve second and third mortgages.
I too like you am amazed that people will spend weeks yet months looking for an IP and will then use also ran loan products, when this can have more inlfuence on their future than buying well.
Who is John Laws, is he related to Jeremy ?
Ta
Rolf
From: Rolf Latham
Hi Anon
Good to see your back - we missed you
Even with non cross collateralised properties most investors would only pay one lot of fees for start up and maintenance.
I have one client who has 18 loans and splits without cross collaterisation, one lot of fees only.
I can see how getting one piece of paper for a statement can be beneficial if you have 10 ips.
I think there is also some confusion here in that you can have 100 loans with the same bank and not be cross collateralised.
Hence having 800 k with one lender in aggregated borrowings is no problem and yes can get good discounts on things.
Cross collateraisation invloves using the equity from one property to provide a security or collateral deposit to another property loan. Commonly this can involve second and third mortgages.
I too like you am amazed that people will spend weeks yet months looking for an IP and will then use also ran loan products, when this can have more inlfuence on their future than buying well.
Who is John Laws, is he related to Jeremy ?
Ta
Rolf
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