Hi guys,
My question is, how do I get my unit revalued, then access any capital growth to utilise for my next deposit?
My bank told me on the phone I need to go into a branch to get a list of registered valuers, could not tell
me any more, I hung up feeling slightly less intelligent.I have been told if I get my unit revalued and have some capital growth, I can apply to redraw a portion of this equity?
Is this the common method, if not what aother methods are available and what are their pros and cons.Appreciate all responses.
Russell
Hi Russell
Firstly welcome to the forum and i hope you enjoy your time with us.
There are many variables when it comes to releasing equity and one of the issues is making sure the loan is structured correctly.
You want to ensure that you maximise the Tax deductability of the loan whilst preserving the security of your PPOR.There is a difference between a real estate estimation and a Registered Valuation from an acceptable valuer.
Given that you will only likely be able to access a maximum of 90% of the valuation why not consider getting an independant mortgage broker to process the loan for you.
It wont cost you anything and you will get the experience of an industry professional.
Richard Taylor | Australia's leading private lender
Gday Richard
Thanks for the guidance, I assume that going and having a chat with a mortgage broker will give me both
loan information and valuation instructions as required?Regards
Russell
Hi Russell
We do but i cant vouch for every mortgage broker.
Richard Taylor | Australia's leading private lender
Okay, now I need to find someone to talk to about it in Sydney, do you have any contacts you would recommend?
Regards
Russell
Hi Russell – Richard helped us enormously & we are in Victoria. Distance isn't a issue. Regards, Maree
Hi maree
Thanks for the endorcement hope you are both keeping well.
Currently in the UK on holiday for another day so experiencing some Melbourne winter weather.
Be happy to assist Russell if he wanted to drop me an email and will jump on it when i get back.
Richard Taylor | Australia's leading private lender
That would be great Richard, I thought it would be good to have a chat with yourself, will send through
an email detailing my situation a little more, look forward to hearing from you.Regards
Russell
Pleasure Russell.
As i say will be back in Brissie Thursday afternoon so be happy to assist.
Richard Taylor | Australia's leading private lender
You must be logged in to reply to this topic. If you don't have an account, you can register here.
