Multiple property purchasers and upgraders
Home upgraders, Jonathan & Sue are married with three teenage children. They live in Newcastle and have stable employment with the education and health sectors.
They owned three properties including their home. With a background in building, Jon is always looking for opportunities to turn a standard house into cash positive investment.
The main challenges
The main challenges here became apparent as we unpacked the deal:
What was done?
Yes there are now discharge fees incurred but that is less than any potential LMI against the cross collateralised properties or the break costs for the fixed rate loans.