All Topics / Help Needed! / Quick question

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  • Profile photo of pjapd43pjapd43
    Member
    @pjapd43
    Join Date: 2007
    Post Count: 4
    August 15, 2007 - 2:05 am

    Hi im a uni student studying a bachelor of property.

    Just a quick question on equity. When you use equity from a PPoR/IP to fund another IP is the equity just added to the principal of you orginal loan or is a new loan set up?

    Cheers Brad

    Profile photo of sapphire101sapphire101
    Participant
    @sapphire101
    Join Date: 2006
    Post Count: 203
    August 15, 2007 - 3:16 am

    New loan is set up if the property is revalued to release the new equity. Otherwise equity release should be in the form of a redraw against the equity in your existing loan on your PpoR or IP

    Thats my experience anyway.

    Profile photo of pjapd43pjapd43
    Member
    @pjapd43
    Join Date: 2007
    Post Count: 4
    August 15, 2007 - 3:49 am

    Thanks heaps for clearing that up

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