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  • Profile photo of inezinez
    Member
    @inez
    Join Date: 2004
    Post Count: 32
    December 13, 2004 - 5:05 am

    Hi, is it best to get a separate mortgage for each new property?
    Inez

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913
    December 13, 2004 - 12:39 pm

    Hi Inez,
    Depends on your circumstances, but generally its best to keep loans separate and avoid cross colaterisation,

    Regards
    Steven
    Mortgage Broker
    Mobile Mortgage Market

    [email protected]
    http://www.mobilemortgagemarket.com.au
    Ph:0402483216
    Ph:1800 820 500
    VICTORIA

    PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.

    Profile photo of Robbie BRobbie B
    Member
    @robbie-b
    Join Date: 2004
    Post Count: 2,493
    December 14, 2004 - 9:16 am

    I would avoid cross collateralising property at all cost. The only time I may consider it is where the security property is not the most suitable and the lender will not provide the funds unless the properties are crossed (like with really tiny studio apartments in some areas with some lenders).

    Robert Bou-Hamdan
    Mortgage Adviser

    M: 0414 347 771
    E: [email protected]
    W: http://www.mortgagepackaging.com.au

    Comments made are of a general nature and should not be construed as individual advice.

    © 2004 Mortgage Packaging Pty Ltd

    Profile photo of inezinez
    Member
    @inez
    Join Date: 2004
    Post Count: 32
    December 15, 2004 - 12:05 am

    Thanks very much for your answers.

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