What's on Offer Line of credit

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From: Keith Hocking


Hi All,
New starter at IP.In looking into Line of Credit(LOC) loans through a couple of mortgage brokers over the last week it seems to me they are all offering a loan that we must hold a conventional repayment loan(can be interest only or P and I)on our own property and the IP can be held in the line of credit.
Is this the only way to set up a LOC or is it possible to have both or more properties on LOC.
Thanks for any suggestions
 
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Reply: 1
From: Rolf Latham


Keith

If the client wants a red suit do not try and sell him a red one. Of course you can have whatever you want subject to the normal banking conditions. LOC's are essentially Interest only anyway.

Ta



Rolf
 
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Reply: 1.1
From: Samantha Lind


Keith,
Try Citibank.
Sam
 
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