Are there any creative ways to overcome serviceability issues when you have funds to reduce the overall debt but they are tied into your property?
Scenario:
You have a home valued at 500k with 100k remaining.
You find your dream home selling in 3 weeks for 900k.
So from my understanding regardless if you got bridging finance, released the required equity or even guarantor loan you would still be required to service the 1 million debt.
If the house was sold then the buyer would have close to 400k, hence only a 500k loan.
Scenario:
You have a home valued at 500k with 100k remaining.
You find your dream home selling in 3 weeks for 900k.
So from my understanding regardless if you got bridging finance, released the required equity or even guarantor loan you would still be required to service the 1 million debt.
If the house was sold then the buyer would have close to 400k, hence only a 500k loan.