Hi everyone, can someone tell me if I can refince a particular investment home loan using the equity to lay deposit for new property when I have 5 property’s which are secured against each other? [:o)] Cheers
Think & Grow Rich!
Hi Johngee,
If you have enough equity then the short answer is yes,,, some other options to consider are,
A top up loan on your current portfolio, this may be more cost effective than a total refinance,
Or,refinance 4 of the 5 properties and pay down the debt on the 5th , this property is then unencumbered,
I suggest you contact a good independent Mortgage Broker, Simon or Terry come to mind,
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Thanks Steven,
I think you would be a useful chap for John to contact as well [
]Cheers,
Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
sort out your property ownership structure first otherwise you’ll have yet another problem to sort out – that of the new financing
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