Any feedback from Brokers or investors with recent experience....
I understand that banks are starting to give their customers the cold shoulder regarding DOING A REDRAW FOR PERSONAL/OTHER INVESTMENT SPENDING.
e.g. in 2006 I was approved for a loan that took me up to 67% LVR on a commercial loan.
If I was to apply for a loan now to increase this amount (get a valuation done etc), do you think I should be able to draw a loan for up to 70% of the CURRENT value, which is greater than in 2006.
It is a commercial loan, and we were able to go 70% LVR at the outset.
I want the money for personal/other investment purposes.
I understand that banks are starting to give their customers the cold shoulder regarding DOING A REDRAW FOR PERSONAL/OTHER INVESTMENT SPENDING.
e.g. in 2006 I was approved for a loan that took me up to 67% LVR on a commercial loan.
If I was to apply for a loan now to increase this amount (get a valuation done etc), do you think I should be able to draw a loan for up to 70% of the CURRENT value, which is greater than in 2006.
It is a commercial loan, and we were able to go 70% LVR at the outset.
I want the money for personal/other investment purposes.