Increasing LOC

[Hysteria]

I had a LOC set up against my PPOR 7 months ago for an IP purchase.
I haven't touched these funds as of yet.

We completed a full internal reno on our PPOR over the last 6 months and I was wondering if I should see if I can draw any more equity out of it.

Is it a good idea to have any available equity put into a LOC for future purchases?

Thoughts?

Cheers

 

[Jamie M]

Hello

It depends on your longer term plans. If you're considering purchasing a number of IPs than it could be a good idea to access additional equity now - especially if it's just sitting dormant with no interest payable.

Cheers

Jamie