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Releasing equity

blast06 · 2010-09-12 20:38:56

Quick question for anyone that may be able to help.... Are any of the banks still offering the service of freeing up equity on houses ? I have no mortgage on the house i want to do this on and have an incoming rental income.... what rates could i expect ? ... i am looking to free up 120-150K and it has a realistic selling…

12-09-2010 8:38pm

#1

blast06

Registered Users, Registered Users 2 Posts: 228 ✭✭

Join Date: April 2010

Posts: 194

Quick question for anyone that may be able to help....
Are any of the banks still offering the service of freeing up equity on houses ? I have no mortgage on the house i want to do this on and have an incoming rental income.... what rates could i expect ? ... i am looking to free up 120-150K and it has a realistic selling value even in the current climate of ~280K....

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Comments

#2 13-09-2010 9:36am

petermurp

Closed Accounts Posts: 21 ✭

Join Date: March 2010

Posts: 21

In the past banks would work off the anticipated rental income of an investment property. They still do but they also need to ensure your salary will service the loan when the property is idle.

I guess it will all come down to your overall portfolio before a bank will make a decision. Best speaking to a broker when looking for complex advice.

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