Hello everyone!
This is my first time in any forum and I thought I ' ll give it a try to get some answers to my questions.
I have accumulated with my partner over the last 5 years 2 investment properties ( $300k/NSW + 350K/QLD)on I.O, Variable rate and the same for our P.P.( 450k/QLD), All purchased with LMI with 3 different Lenders from the big 4's.
Our joint income is around $ 100k with 2 babies and we want to play our cards right for the next market upturn
We have now 2 options :
Trying to bring our Portfolio's LVR under 80 % or under and THEN consider to consolidate all properties under one Lender that offers Global Portfolio with a line of credit to pay off our PP faster and use futur available equity to buy again.
Paying LMI again on the Portfolio value with a new Lender is not something I would do really and would have to go under the 80% LVR to avoid this.
Our goal is to keep on increasing our asset base (net worth) as agressively as we can in the next "boom" and I am asking you readers, if it is in my interest to stay with different Lenders( our present situation) and keep on freeing some equity by getting top ups( with LMI).
The first option is adding more Tax benefits allowing to pay off our PP faster but can someone tell me which option really would be the most efficient to grow our portfolio in the mid to long term( 10 to 20 years).
Think i answered this when you posted it on the other section.
Richard Taylor | Australia's leading private lender
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