Hi
I need some clarification on how this particular set up is classified.
PPOR has a line of credit attached.
No other monies owing on PPOR.
Line of credit funds were used to part fund an ip purchase.
Is this use of LOC or the bank l have drawn the LOC from classified as a mortgagee over PPOR?
We are changing the Strata title and l need to notify any mortgagee.
Thanks and l hope l have made this clear enough to follow.
cheers
yadreamin
I need some clarification on how this particular set up is classified.
PPOR has a line of credit attached.
No other monies owing on PPOR.
Line of credit funds were used to part fund an ip purchase.
Is this use of LOC or the bank l have drawn the LOC from classified as a mortgagee over PPOR?
We are changing the Strata title and l need to notify any mortgagee.
Thanks and l hope l have made this clear enough to follow.
cheers
yadreamin