Accessing Equity at High LVR's

Discussion in 'Loans & Mortgage Brokers' started by Jess Peletier, 7th Jul, 2015.

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  1. Redom

    Redom Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    4,647
    Location:
    Sydney (Australia Wide)
    Three options for your equity release, all best down separately to your main loan.
    1. I/O new loan split with funds parked in linked offset. Can be expensive with some lenders/products that may not offer offset (basic products).
    2. LOC. Note can be called in, and is generally more expensive with most lenders.
    3. Loan set up with funds parked back into the loan. Be careful, you sometimes need a balance otherwise the loan account may close.

    Great to see you on here radson. Awesome avatar! :)
     
    Redom, 12th Jul, 2015
    #61
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,932
    Location:
    Australia wide
    Last edited: 13th Jul, 2015
    Terry_w, 12th Jul, 2015
    #62
  3. ADLInvestor

    ADLInvestor Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    126
    Location:
    Adelaide
    Thanks all for your replies. Make everything a bit clearer.
     
    ADLInvestor, 13th Jul, 2015
    #63
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