Need a finance broker

Hi SC

Without knowing too much of your details – and based on the limited info available I'd probably look to tap into the equity against the PPOR – set it up as a second split to cover the deposit/costs on the next IP. I'd then set up a separate, stand alone loan to cover the remaining balance of the IP.

All in all, your equity position is good – it's just a matter of assessing your borrowing capacity amongst a few other things to work out the best option.

Cheers

Jamie

Hi _ do you have any further information. What are your goals? Upfront valuations will determine your true equity position and this will be a good starting point. However, we will need to know the income side of the equation to have a look your ability to leverage that equity into other investments

Welcome to the forum SC and i hope you enjoy your time with us.

I always favour reducing the amount of debt secured against your PPOR for the IP deposit so would probably suggest it is a matter of working backwards.

What we would look to do is establish what you would need to cover say a 10% deposit on a 400K purchase and then add in the acquisition costs etc.

Then we look at restructuring your current PPOR loan to raise the shortfall.

Assuming you have sufficient income to support the total borrowings i cannot see any initial problems but as mentioned probably a matter of organising an upfront valuation on your PPOR to work out what equity you have to play with.

All in all structured correctly you should be able to acquire the new property and put you in a position to start reducing the non deductible debt on your PPOR and set yourself up for further investment acqusitions.

Cheers

Yours in Finance

SC2007 hope you have found a good broker to talk about your situation and they were able to help you