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Equity releases for IP secured against PPOR

Discussion in 'Property Finance' started by big_ben02, 29th Jul, 2015.

  1. big_ben02

    big_ben02 Member

    Joined:
    20th Jun, 2015
    Posts:
    9
    Location:
    Regional NSW
    Hi there, I've got a few equity release loans with CBA for my IPs secured against my PPOR.

    From what I can tell from the loan contacts one has a reference rate of SVR whilst others are IPSVRs.

    Given they are secured against my PPOR, can I request the bank changes the reference rate to SVR?

    Ben
     
  2. Hodor

    Hodor Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    737
    Location:
    Homeless
    Its the purpose of the loan that's important. Wouldn't want to be deceptive with the poor banks.