I have a question regarding property investing for people near the retirement age.
Scenario: 60 y/o couple, lives in ppor no debt. Earns about 100k pa combined no dependencies.
If they were to take out loans against their ppor, will lenders still treat them the same as they'd treat someone in their 30s? Assume not since they are looking at hitting retirement in 7 or so years?
Also a home loan against ppor is not tax deductible right? Is there a way to better structure the loan? LOC or something?
Thanks in advance
Scenario: 60 y/o couple, lives in ppor no debt. Earns about 100k pa combined no dependencies.
If they were to take out loans against their ppor, will lenders still treat them the same as they'd treat someone in their 30s? Assume not since they are looking at hitting retirement in 7 or so years?
Also a home loan against ppor is not tax deductible right? Is there a way to better structure the loan? LOC or something?
Thanks in advance