i have reached my limit of borrowing with anz break free which is linked with an offset account
we have one investment property freehold valued at $35000 and would like to draw equity from this up to 80%
any suggestions what type of loan and who to go to for best deal and rate?
thank yousorry meant to say property worth 350 000 !!
Hi Cath
When you say that you have reached your limit of borrowing do you mean in regards to Anz serviceability ?
If this is the case then there are a variety of options however a bit more information would be required to provide you with an accurate assessment.
Richard Taylor | Australia's leading private lender
we have reached the limit they will lend to us over $1m
servicabilty with other banks eg rams has not been a problem
but would like to know best rate and type of loan that will suit us drawing down on the equity from this propertythank you for your time and interest
Have to say recent changes to RAMS serviceability policy would make it very unlikely that they would do a deal.
Dont mean to appear rude but again without a full Statement of Position I would not be able to provide you without any form of assessment. I am in the UK until the end of the week buut feel free to drop me an email and i would be happy to assist you further.
You have to remember many institutions wont allow equity release these days so it is a matter of combining a competitive rate product with a lender that will do what you want.
Richard Taylor | Australia's leading private lender
thank you will do a bit more research and get back to you if needed
enjoy the uk
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