Situation: I have $200k available for redraw in my PPOR Westpac loan. The loan is $0 (paid off). I'm get a pre-approval from Macquarie for IP2. They say I can borrow $500k without closing down the PPOR loan. I want to borrow under $500k anyway
Question: Should I:
1) Keep the PPOR loan open so I can access my $200k as back up/cash reserve?
2) Close the PPOR loan, see if I can borrow the maximum with Macquarie so I have max funds for investing before going on maternity leave?
I hope that makes sense. Thanks.
Question: Should I:
1) Keep the PPOR loan open so I can access my $200k as back up/cash reserve?
2) Close the PPOR loan, see if I can borrow the maximum with Macquarie so I have max funds for investing before going on maternity leave?
I hope that makes sense. Thanks.