Can I use equity to pay for the BA services?

Hi

I am planning to use equity in my existing IP to fully pay the costs of another IP purchase. I would need to engage a BA as well. Can I ask the bank to cover the balance of the BA fees in addition to paying a deposit and all other buying costs? (Obviously I will pay the BA retainer fee upfront from my pocket).

Appreciate your tips here.

Cheers-

 

Yes equity can cover the BA costs as well.

 

Done properly, using equity should simply be using a loan to convert equity to cash. What you do with that cash is up to you.

 

I think you are asking if you can borrrow to pay for a Buyers Agent fee?

Yes you can.

You should consider whether the interest would be deductible too.
Get some tax advice, but it possibly could be.

 

Thanks very much for your replies. Yes, my intention is to use loan borrowed against the available equity to pay the BA fees.