If i get a line of credit from lroperty 1, to use as a deposit on property 2, but use the aame lender for property 2 as i did for the loc on property one, is that still pretty much cross collarerisong?
No it’s not, assuming the lender doesn’t take Prop 1 as security by default. Always check your loan documents before you sign them!
Jess Peletier | Seed Financial
http://www.seedfinancial.com.au/
Email Me | Phone MeMortgage Broker - Perth and Australia wide
Nope – you can have multiple loans with the one lender and still keep them uncrossed.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Not really, unless 2 properties are securing one loan. But it is not entirely as safe as going to a separate lender.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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