In hindsight i regret it because you can only top up to 90% anyway, so despite my properties going up in value, there was minimal to extract out.
Hey D.T. (or anyone else that may be able to help answer),
Could you please clarify what you mean by the above?
I'm planning to purchase another IP, ideally 2, by the end of this year. I don't have a PPOR and have 1 IP with a 20% deposit which I purchased in October last year.
The plan is to get a reval in July to see if there has been any growth and draw some of the equity out.
Because there hasn't been much time for growth since I purchased my property, I'm essentially going to have to extract some of the 20% deposit I initially put down on the property (currently at 80% LVR but looking to go more aggressive to around 88-90%).
My plan for the next couple of purchases is to get 95-97% lend.
I am planning to go with Westpac for next loan at 97%, because my current loan is with Westpac already.
I was interested in what you stated because I will be in a similar boat to you when you had started.
How will I be affected?
Cheers,
Taku