I currently have one IP and one PPOR. I am thinking of purchasing a new PPOR and making the current one my second IP. I recently refinanced and so valuations were done only 6 months ago.
Can someone please advise if basically I can use the equity (and approx how much to expect) as a deposit on my new PPOR.
Situation:
IP - Valued at 225K, mortgage 176K
Current PPOR - Valued at 280K, mortgage 179K.
Both with ING (separate loans)
Looking to purchase new PPOR in 300-340K bracket.
Many thanks in advance. Just trying to get an idea whether I should investigate going down this path or forget it.
Can someone please advise if basically I can use the equity (and approx how much to expect) as a deposit on my new PPOR.
Situation:
IP - Valued at 225K, mortgage 176K
Current PPOR - Valued at 280K, mortgage 179K.
Both with ING (separate loans)
Looking to purchase new PPOR in 300-340K bracket.
Many thanks in advance. Just trying to get an idea whether I should investigate going down this path or forget it.