Refinancing current investment loan as OO loan

Discussion in 'Loans & Mortgage Brokers' started by RoadRunner, 3rd Oct, 2020.

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  1. RoadRunner

    RoadRunner Well-Known Member

    Joined:
    3rd Dec, 2018
    Posts:
    76
    Location:
    sydney
    Hi folks,

    Just wondering if it is possible to refinance investment property loan as OO loan?
    Plan is to move into that property in near future (but not immediately).

    We currently own an investment property and looking to refinance existing loan on that property. When we lodge application can we designate this property as OO?

    Can a broker do it?
    After the loan is refinanced, how much time do we have before we have to move in?
     
  2. Terry_w

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

    Joined:
    18th Jun, 2015
    Posts:
    41,667
    Location:
    Australia wide
    Yes possible