Scenario:
Client held a residential investment property in Brisbane and was seeking to increase their existing first mortgage to extract more equity to purchase an additional investment property. Although the LVR was low and servicing was easily established from the property’s rental income, their existing lender did not agree to the equity release.
Xceda Solution:
Xceda provided the Client with a refinance on the property up to 75% LVR to enable the Client to purchase an additional property. The loan was structured as an Interest Only facility for 18 months, with an option for the Client to move to a fixed amortising P&I loan for an additional 3 years after the initial term.
For more information on our First Mortgage Lending Options, please enquire at info@xceda.com.au.
