Hi
We are currently building a property in Perth with a completion date of June 2007. We will have approximately $500K equity (more if the Perth market continues on it’s merry way [biggrin]) on completion.
We are looking at buying a property in Sydney where we currently reside, and was wandering whether any bank would provide a bridging loan prior to the house being complete.
Thanks and Go you Eagles! [thumbsup2]
Hi there
I am assuming that the equity is still to be realised through either a valuation or a sale?
Without the actual figures it is difficult to assess but a lender will certainly take the property in Sydney and the one in WA as security and lend.
If you are wanting a lender to lend against unrealised equity then the answer is probably – NO.
If you want to post actaul figures on or off the forum we should be able to assist.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner.
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
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