Hi everyone
How many LOC do most people use?
Do you tend to have one off your PPOR or do people also have some other LOC off IP’s?
following on, when accessing equity in an IP, using a standard loan, you typically refinance to free up your equity ready for your next IP.
Would you be better off having a LOC on those IP’s that have potential for CG?
My thinking is that it would be cheaper to just revalue and increase your LOC, instead of refinancing to gain access to the equity?
comments appreciated.
[biggrin]HHH
You really only need one, but when it runs out you would need to increase it again (assuming growth), or start a new LOC on another property.
You don’t have to refinance to increase the LOC.
Terryw
Discover Home Loans
North Sydney
[email protected]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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