The 'Line of Credit' has been created to give you maximum control & flexibility over your equity and your finances. 

Line of credit loans allow borrowers to borrow up to a specified limit which is secured by a registered mortgage over a residential property.  The idea is very similar to the credit card system where the bank makes available to you a maximum amount of funds.  You are liable for the interest on a monthly basis and this interest is calculated only on the running balance, not on the limit of the account.

Therefore the more money you can put into the loan, the less interest you will have to pay. The Line of Credit has the flexability to allow you to redraw money placed in the loan at any time.

Here's a quick example. Let's say you owe $100,000 with a Line of Credit facility. You will only be required to pay interest on the 100K. if you get paid and can put, say, $1000 into your loan, you will only pay interest on $99,000.

These loans are a creative way to generate funds for investment purposes, funding businesses, other properties, loans to children buy property and many other uses.

Effectively utilising a Line of Credit can help you reduce your mortgage faster. It could also leverage you into a position where you may consider using your equity for other purposes such as investments.

Contact us to see how a Line of Credit could benefit your situation.

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