Using equity for PPOR

[The Dark Knight]

Hi forumites,
I recently got married and was wondering if I can use equity from my property portfolio to help us purchase a new PPOR with my wife on the new PPOR title. Obviously all the portfolio properties are in my name alone. Any help would be greatly appreciated?

 

[D.T.]

of course

 

[Rolf Latham]

Subject to serviceability and valuations yes.

raise deposit loan(s) against each IP, thence get a separate loan for the purchase of the new PPOR, secured only to the PPOR.

ta
rolf

 

[The Dark Knight]

Yay I thought so, now that we are married I think we tried before when we were engaged and we couldnt so now I can search for a new ppor whilst searching for my next IP

 

[PHP]

Yay I thought so, now that we are married I think we tried before when we were engaged and we couldnt so now I can search for a new ppor whilst searching for my next IP

Hi TDK,

Best to talk to your mortgage broker first before you do your searching. They will tell exactly how much you can afford to buy. This is a good filter to your property search. No point spending time searching for a property if you can't afford it. Rolf Latham who posted above is one of the best brokers here in Somersoft.

 

[r3ckless]

Hi TDK,

Best to talk to your mortgage broker first before you do your searching. They will tell exactly how much you can afford to buy. This is a good filter to your property search. No point spending time searching for a property if you can't afford it. Rolf Latham who posted above is one of the best brokers here in Somersoft.

And get the deposit ready too! Especially if u have to hit up more than one ip to extract equity to cash for saod deposit!

 

[The Y-man]

....and remember the portion of the loan against your IP's that you use for the ppor will NOT be tax deductible - i.e. make sure the loans are IO, because PI can mean accounting hell.

The Y-man

 

[Terry_w]

Yay I thought so, now that we are married I think we tried before when we were engaged and we couldnt so now I can search for a new ppor whilst searching for my next IP

Not sure what difference marrying makes!

 

[The Dark Knight]

Thanks for the advice everyone