All Topics / Overseas Deals / LOC to be obtained in US?

Viewing 4 posts - 1 through 4 (of 4 total)
  • Profile photo of naked_seednaked_seed
    Member
    @naked_seed
    Join Date: 2010
    Post Count: 10
    December 15, 2010 - 4:02 pm

    Hi guys,

    Looking to invest in the US next year. I am just wandering if it's possible to obtain a line of credit on a debt free property in Australia with an American bank?…the point of this would be to take advantage of the lower interest rate that would be charged and to establish a relationship with a US bank. Thanks.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    December 16, 2010 - 2:48 am

    Yes it is very simple.
     
    Both Citibank and HSBC will offer such a product but the difference is that it will be done by the respective lenders Australian Branch and hence the prevailing rate will follow.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of naked_seednaked_seed
    Member
    @naked_seed
    Join Date: 2010
    Post Count: 10
    December 17, 2010 - 7:47 am

    Thanks Richard,

    Silly question, but do you mean the prevailing US or Aussie interest rate should follow?

    Jason

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    December 17, 2010 - 7:50 am

    Australian rate.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

Viewing 4 posts - 1 through 4 (of 4 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.