Newb question!!

[JCat]

It's the only way we've been able to get at "new equity" - i.e. where prices have risen, or where the principal has been paid back as part of a P&I loan. The only time you don't need to would be if you have made extra repayments that can be redrawn (assuming your account has a redraw facility).

Wouldn't harm you to get the refin done to have the extra cash available for the future anyway (you don't pay interest on it until you withdraw it - so if you only need $30k, you only pay interest on the $30k)

Cheers,

The Y-man

Thanks again, it certainly is a steep learning curve, lol.

 

[fokas]

Thanks again, it certainly is a steep learning curve, lol.

Certainly is but as long as you're learning and not losing money...it's all good fun!