If you have the discipline to use it correctly, you will enjoy the benefits of this type of loan it’s the ultimate flexible loan. You will have, at any time, instant access to the equity in your property up to a pre-arranged limit. A creative way to raise funds quickly when needed.
The loan balance fluctuates with monies going in and out e.g. salary credits, credit card debits or cash withdrawals. This type of loan can be very expensive if the loan balance is increasing. It requires an interest only payment as a minimum each month. However, with the correct budgeting and discipline, you can dramatically reduce the time it takes you to pay out your loan.
First Home Buyer
10 Tips for Property Investors