How to (safely) access the cash locked up in your property
I don’t mean a straight imbalance between your salary and your expenses.I’m talking about big ticket things like the need to renovate, replace a car (without an expensive personal loan), maybe pay for kids’ education last minute. But sometimes it is about getting a larger loan.And it’s even possible that, with the combination of both, you could extract equity without increasing your minimum repayment. The only restriction is that you need to have owned the property for 10 years.
- ▪I don’t mean a straight imbalance between your salary and your expenses.I’m talking about big ticket things like the need to renovate, replace a car (without an expensive personal loan), maybe pay for kids’ education last minute.
- ▪But sometimes it is about getting a larger loan.And it’s even possible that, with the combination of both, you could extract equity without increasing your minimum repayment.
- ▪The only restriction is that you need to have owned the property for 10 years.
Sydney Morning Herald publishes from Australia and files mainly under world. We currently carry 3,195 of its stories.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.