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Not everyone realises the potential benefits associated with releasing equity (e.g. getting ‘cash-out’) from their property portfolios.
It may be to pursue investments or to improve their homes. It may be to provide gifts for family members, or to pay for school fees, or to buy a new car, or even to just act as a safety buffer (having access to more cash). There are any number of different reasons depending on ones individual circumstances, however the interest rates are often cheap, as residential real estate is generally seen as the best form of security for a lender.
Today on the Long Property Show we discuss how different lenders respond to these types of new loan requests, and we provide insights into the process and documents required, as well as the costs. Often times there will be negligible costs involved (less than a few hundred dollars, if anything at all), and clients only pay the interest on the new lending once they utilise the funds.
For many clients we’re releasing equity at the same time as refinancing at the moment, and there’s generally no additional work involved.
Tune in to learn more. We hope you enjoy the show…!
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The Long Property Show provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. Nothing in the Long Property Show constitutes legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
