Hi Karl and Rita,
If the valuation has been done by one of your lenders valuers then it will enable you to access the equity at the levels discussed – be aware that if the valuer isn’t on your lenders panel, and the valuation hasn’t identified the property as being suitable security for your lender then it isn’t usually worth the paper it is written on.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Hi Ray,
As Steven has indicated I would also suggest taking your LVR out as far as possible on the proviso you are comfortable with this and the extra LOC doesn’t overly limit other borrowings.
It may even be worth going above 80% LVR as you may find the additional funds could be put to use in an investment program somewhere.
For example in the early days we extended out LOC and a couple of early purchases out to 90% to maximise the number of properties in our portfolio.
The growth in our portfolio since then gives us a bucketload of equity and we now only borrow up to 80%.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Derek,
It was done by our lender.[biggrin]
K&R
The future belongs to those who believe in the beauty of their dreams. – Eleanor Roosevelt
Hi Karl and Rita,
Tis all signals ‘go’ then.[biggrin]
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
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