Gday guys,
Family members have an issue coming up need to borrow some money. They are not investing or investors, PPOR only. It is needed for building repairs to their property.
With the following scenario how would they go borrowing ~$200k
Age: 58 x 2 married couple
PPOR: $1.2m
Current loan: ~$100k
They have plenty of equity available but what is the best way to get the cashola??
Would the loan serviceability be based on the remainder of their working life, is it up to retirement 65yrs?
Or can they just access their equity easily?
Family members have an issue coming up need to borrow some money. They are not investing or investors, PPOR only. It is needed for building repairs to their property.
With the following scenario how would they go borrowing ~$200k
Age: 58 x 2 married couple
PPOR: $1.2m
Current loan: ~$100k
They have plenty of equity available but what is the best way to get the cashola??
Would the loan serviceability be based on the remainder of their working life, is it up to retirement 65yrs?
Or can they just access their equity easily?
Older peoples borrowing power
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