Do you know how much your home is really worth?
We can order a valuation upfront to find out if there is enough equity in your home to start creating wealth.
The capital value for your home usually increases for one of two reasons. The first is because the property went up in value as the whole area and surrounding properties all appreciated in value. The second reason is because you did something to improve the value of the capital such as renovation. The third and less likely outcome is because you paid your loan down off or put money in your offset account.
Regardless of the reasons your property increased in value, or if in fact it was simply unencumbered ( no loan) or had a small loan the process remains the same. You do a fact find to work out what leverage and risk and goals etc that you would be comfortable with and then we look at all the different options from the 40+ lenders on our panel.
From these lenders most don’t charge lenders mortgage insurance if the ratio of your loan divided by the bank valuation of your property is 80% or less ( or 85% for some lenders).
You can take cash from your home to buy an investment property for yourself. You can also allow your children(or other family members in some circumstances) to borrow some cash out against your home for a guarantor loan.
You can also add the new rental to servicing the new loan and take the deposit plus costs from your current property. We can go over all your costs with you and you can decide if creating wealth this way is right for you.