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  • Profile photo of the hulksterthe hulkster
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    @the-hulkster
    Join Date: 2008
    Post Count: 4
    September 14, 2009 - 4:47 am
    Qlds007 wrote:
    Hi Hulkster

    Ideally you dont want to cross collaralise the 2 securities so need to be careful on how you structure the 2 loans.

    Probably easiest way to go is to look at an investment line of credit secured against your PPOR to cover 20% of the land & building costs and then through a separate lender look to take out standalone interest only investment loan.

    Your mortgage broker should be able to give you some suggestions for suitable lenders once they have some further hard data.

    Thanks for that, with the LOC against my PPOR how are the repayments on that structured? So say i borrow 60k as a LOC against my PPOR how and when do i have to repay that.

    Profile photo of the hulksterthe hulkster
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    @the-hulkster
    Join Date: 2008
    Post Count: 4
    September 14, 2009 - 1:19 am

    Geelong is a good place to buy atm. For 300-350 i would look at suburbs like Belmont, Highton and Geelong West. The first 2 being the go atm especially with the new ring road. I have lived in Geelong for 35 years so if you have any questions feel free. Renting out in those areas is not a problem.

    Profile photo of the hulksterthe hulkster
    Member
    @the-hulkster
    Join Date: 2008
    Post Count: 4
    February 9, 2008 - 12:04 am
    give90 wrote:
    which state was that in?

    Victoria

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