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  • Profile photo of JMillerJMiller
    Member
    @jmiller
    Join Date: 2010
    Post Count: 7
    April 2, 2011 - 10:07 am

    Thanks richard

    I live rural remote NSW no access to mortgage brokers locally. Is there anything I should look for when searching for a broker?
    cheers

    Profile photo of JMillerJMiller
    Member
    @jmiller
    Join Date: 2010
    Post Count: 7
    April 2, 2011 - 7:12 am

    Hi .
    Maybe if I explain my situation.My PPOR is valued at 360K I owe 220K I have split the loan half fixed. I  recently purchased a property for  230k using my PPOR equity as my deposit so I owe 230K the property rents for $280 week and I have interest only loan.(my first mistake cross collaterising loans)
    We have a combined income of about 180K no other debt.
     with any money saved and we pay extra payments on our PPOR.
    I would like to buy a third property what would be the best way to go about it and someone suggested line of credit. Not sure how to go about it or the exact workings of it so if any one can help it would be appreciated thanks

    Profile photo of JMillerJMiller
    Member
    @jmiller
    Join Date: 2010
    Post Count: 7
    March 31, 2011 - 8:55 pm

    Thanks Jamie
    my only concern would be that I have read its good to use diffrent banks so how would that work? As my current bank holds mortgage over both properties wouls a third bank get involved? cheers Jodie  

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