Hi,
I have 4 IP's and have all mortgages with Commbank. They are all crossed, and I have used all my equity, and will not be able to lend any more from Commbank without mortgage insurance, which I want to avoid. What I want to know is - where do I go from here if I want to buy more? I am in a good financial position and could afford to service at least 3 more IP's, but what are my finance options? I am worried that tying up the first 4 with one bank has harmed my options? Will other banks/lending institutions touch me? What are my options to go forward and buy more?
I have 4 IP's and have all mortgages with Commbank. They are all crossed, and I have used all my equity, and will not be able to lend any more from Commbank without mortgage insurance, which I want to avoid. What I want to know is - where do I go from here if I want to buy more? I am in a good financial position and could afford to service at least 3 more IP's, but what are my finance options? I am worried that tying up the first 4 with one bank has harmed my options? Will other banks/lending institutions touch me? What are my options to go forward and buy more?