All Topics / Finance / fixed interest rate and line of credits

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  • Profile photo of shanemattshanematt
    Member
    @shanematt
    Join Date: 2008
    Post Count: 70
    April 2, 2009 - 5:00 am

    I revalue my investment properties regularly and obtain line of credits.If I fix my interest rate,would this effect the system I use? Would the line of credit amount be the only portion that would be variable and the rest is fine on fixed?

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    April 2, 2009 - 6:28 am

    Yes normally this would be the case however there are still one or two lenders offering a fixed rate on a line of credit.

    You wont be able to extend the fixed rate loan once you revalue so would have to take out a totally separate loan for equity purposes.

    Richard Taylor | Australia's leading private lender

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