So you might find yourself in a position where you’re looking to invest in more property. Or even thinking about renovating an existing one.
Of course, you’re going to need to fund it somehow. Using the built-up equity in your current home is a savvy way to help finance your next venture.
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New 1195 Christian Louboutin Museo black velvet STUDDED loafers flats 38 7 -ART, You can take advantage of your equity in a number of ways:
Buying an investment property You can refinance your current home loan to access your equity and use it to invest in a rental property. You’ll usually enjoy capital gains and the rent you receive can help pay off your mortgage or give you funds to invest further.
Renovations for your home You can also refinance your current home loan to help pay for renovations. Your renovations can substantially increase the value of your property and so build more equity.
Funding for other purposes You can use the equity in your home to free up cash for a variety of approved purposes. You may need it for your business. Perhaps you’re looking to consolidate a number of debts into one monthly mortgage repayment to help you get on top of your finances. Or you simply have to sort out some pressing financial needs. Whatever the case, using your equity can be a great help when you need extra cash at hand.
Fausto Puglisi Women's Floral Print Platform Sandal Fiori pink black Fabric, You can access all or part of your equity. And you have a few options up your sleeve to do so. You can either refinance your existing mortgage or if you prefer, borrow on your equity.
Redraw Facility This gives you the ability to use any additional repayments you’ve made on your home loan that are over and above the minimum payments.
Additional Advance This lets you borrow more. It will be on top of your original mortgage. But you need to be aware that it can sometimes be at a different interest rate. Mortgage Refinancing This lets you borrow more. It will be on top of your original mortgage. But you need to be aware that it can sometimes be at a different interest rate.
AUTHENTIC MIU MIU PATENT ENAMEL LOW HEEL PUMPS BLACK 36 GRADE AB USED -HP, Sure, it can be a big step forward when you’re about to buy an investment property or consolidating debts. But when you’re financing it using the equity in your home, you should be aware of the possible risks.NIB Lgold PIANA Denim Calf Leather Trim Loafers Casual shoes Sneakers Sz 39.5 750,.
Brooks Ariel 18 Women's Grey Grey Pink 2711B091, You can use our calculators to help you work out how much you can borrow and what part your equity can play.
A.P.C. Black Ankle Boots Joey 37 6.5 7, If you’d like to find out if refinancing is the right option for you or learn more about equity, you can always speak to one of our Lending Specialists on 13 73 77 Monday to Friday 8:00am to 6:00pm AEST.
This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Pepper Group Limited ABN 55 094 317 665.