Friend has ANZ loan - property in company name - paid about $80,000 off a $300,000 loan.
He's been told he can only redraw to 80% which he was hoping to pull out equity of about $50,000, but can only do about $12,000 so not enough to use as deposit to buy another IP - do any of the brokers know if ANZ will do 90 or 95% redraw, otherwise he will have to refinance with another lender.
He's been told he can only redraw to 80% which he was hoping to pull out equity of about $50,000, but can only do about $12,000 so not enough to use as deposit to buy another IP - do any of the brokers know if ANZ will do 90 or 95% redraw, otherwise he will have to refinance with another lender.