Refinancing and/or with debt consolidation - Investment
Managing the amount of disposal cash you have is a daily occurrence.
Sometimes it is economical or a necessity to join all your loans into one OR diversify your loan portfolio.
Our business certainly ensures that it will be a benefit to you before proceeding.
To assist, all lenders will consider refinancing your investment loan(s) and/or topping it up for improvements and to payout other loans where the purpose was for residential investment property(s).
First tier lenders will not consider any portion of home loan funds to be used to fund a business loan or debt, whereas second tire lenders may consider such proposals.
You will find if your proposal sees the total new loan required to exceed 80% of the lender valuer’s market estimate of your mortgaged property, then the lender’s mortgage insurer will restrict the number of loans it will refinance.
This restriction is one home loan plus four other debts.
Sometimes a one-off event has placed you in a disadvantaged position, creating loan arrears and defaults. Not enough for the lender to foreclose but they prefer you to move on or encourage you to sell your property portfolio or part thereof.
There are lenders who consider these situations to allow you to get back on your feet and re-establish your credit rating.