I'm planning to refinance my mortgage, to get a top-up (due to an increase in my equity in the last 12 months). The purpose is to use the top-up money to buy another IP.
The lender will ask me what the top-up money is going to be used for..
What is the best reason I can give to the lender? If I say to purchase another IP, will they reject to give me the top-up (considering my serviceabilty is pretty tight)? Otherwise what is the best reason to tell the lender? Should I lie or honest?
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The lender will ask me what the top-up money is going to be used for..
What is the best reason I can give to the lender? If I say to purchase another IP, will they reject to give me the top-up (considering my serviceabilty is pretty tight)? Otherwise what is the best reason to tell the lender? Should I lie or honest?
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