Another thread seemed to be going down this path so thought I'd start afresh.
I am curious to get some examples of why to not to xColl. I have heard "it'll hurt you in the long run.. they have you by the short and curly's" etc... I xColl as it suits my situation/strategy eg. buy, add value, and hold.
I don't envisage selling in the near future so paperwork or the lender dictating what happens with proceeds from a sale is not an issue.
I am comfortable with my LVR and ability to meet repayments.
I have extended my loan(s) with current lender and have more than 30% deposit ready for my next/current investment
I am seriously thinking I might go with another lender this time (although none have met current lenders rates/conditions) ...maybe I am short sighted but why this DO NOT xcoll. ?
I am curious to get some examples of why to not to xColl. I have heard "it'll hurt you in the long run.. they have you by the short and curly's" etc... I xColl as it suits my situation/strategy eg. buy, add value, and hold.
I don't envisage selling in the near future so paperwork or the lender dictating what happens with proceeds from a sale is not an issue.
I am comfortable with my LVR and ability to meet repayments.
I have extended my loan(s) with current lender and have more than 30% deposit ready for my next/current investment
I am seriously thinking I might go with another lender this time (although none have met current lenders rates/conditions) ...maybe I am short sighted but why this DO NOT xcoll. ?