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We are planning to purchase a home and land package for our next ppor. We will be selling our ppor and an investment property to fund this so we can keep the same mortgage limit over our ppor (no increase).
Once we sell our ppor how do the repayments work for the switch to a construction loan?
Interest will be charged on the land and then on the progressive stages until the loan amount is fully drawn and the property completed..
Richard Taylor | Australia's leading private lender
Viewing 2 posts - 1 through 2 (of 2 total)
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