Discussion in 'Loans & Mortgage Brokers' started by PeterL, 4th Jun, 2020.
Can I use my equity ~$50,000 to buy another property and then sell the existing property?
You would be borrowing against the existing property if you did this. When sold the mortgage would need to be discharged and this may mean the loan secured against it must be discharged - but not always.
Tax Tip 74: Selling a property that secures other loans Tax Tip 74: Selling a property that secures other loans
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