Hi,
Can you release equity on a house with a low tracker interest rate in order to pay off a lump sum on primary residence with different bank and higher variable rate? first house bought in 1999 and now on 1.5% tracker. second house(family home and in negative equity) bought in 2006 and just off a fixed rate and onto 3.5% variable with NIB with repayments of 2400 per month. Does that make sense? Wouldn't it be super if one could?
Can you release equity on a house with a low tracker interest rate in order to pay off a lump sum on primary residence with different bank and higher variable rate? first house bought in 1999 and now on 1.5% tracker. second house(family home and in negative equity) bought in 2006 and just off a fixed rate and onto 3.5% variable with NIB with repayments of 2400 per month. Does that make sense? Wouldn't it be super if one could?