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Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of Cathy24Cathy24
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    @cathy24
    Join Date: 2010
    Post Count: 8
    March 28, 2010 - 11:21 am

    Hi Matt,

    That would be great…can you help me? Nab just valuation my house last month, if I ask for new Line of Credit loan do they need to value my house again? or you think they just use the last valuation figure?  Thanks

    Profile photo of Cathy24Cathy24
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    @cathy24
    Join Date: 2010
    Post Count: 8
    March 26, 2010 - 12:27 pm

    That is exactly what I though.  Thanks for all the sharing.  Will keep your details in case I need your help in the future.  Thank you

    Profile photo of Cathy24Cathy24
    Participant
    @cathy24
    Join Date: 2010
    Post Count: 8
    March 26, 2010 - 12:16 pm

    Hi Matt,

    Is just between me and you…don't worry…hehehe.  But I have no choice as NAB holding my security, it easier I apply Line of Credit with NAB as they hold my house security, if I apply line of credit to a different bank they likely denied my application as they dont like to share a house security with other bank( I have been told this by Bank SA Loan Lender)……When I put in application I have to make sure at least I have 95% of getting it otherwise I'm not putting it in, therefore when they told me that I'm a bit scare too.

    Profile photo of Cathy24Cathy24
    Participant
    @cathy24
    Join Date: 2010
    Post Count: 8
    March 26, 2010 - 12:04 pm

    Thanks for a clear explanation, it make sense to me now.  Great help.  Thank you.

    Profile photo of Cathy24Cathy24
    Participant
    @cathy24
    Join Date: 2010
    Post Count: 8
    March 26, 2010 - 11:36 am

    Hi,

    their interest about 6.31% for line of credit.

    Profile photo of Cathy24Cathy24
    Participant
    @cathy24
    Join Date: 2010
    Post Count: 8
    March 26, 2010 - 11:34 am

    Thanks for that. I feel much more confident now to apply for that.  But can I have another question like:

    My risendential home owe $290000 and I guess this house value $400000(but I guess the bank does not value this much)
    My investment home loan owe $270000 and the value is about $270000.

    Do you think I have some equity in the residential home even if the bank value at $380000?  I dont know how they work out your equity, do they add $290000+$270000 = $560000(owed) – $650000(2 houses value) = $90000(equity left)?

    Thanks.

Viewing 6 posts - 1 through 6 (of 6 total)