20 Apr 2023 Podcast: Deep Dive – Unlocking the Benefits of Equity in Your Property
On this episode, Evelyn and Maddie explore the benefits of using equity in your property and how it can be a powerful tool in building wealth and securing your financial future.
First, we discuss what equity is and how it’s calculated. We also talk about the difference between personal-purpose equity and investment-purpose equity, and why understanding this distinction is important.
Next, we dive into the various ways you can use equity to your advantage. We discuss how equity can be used to fund renovations, pay off high-interest debt, invest in other properties, or even start a business. However, it’s important to understand that tapping into your equity comes with some risks, especially if you’re not using equity on appreciating assets.
We talk about how to determine if this move is the right financial move for you, and how to work with lenders and financial professionals to ensure you’re making the best decisions for your situation.
If you find yourself in this situation, what should you expect, how can you prepare and how do you work out your next move in property finance?
In this episode, Evelyn and Maddie cover all the ins and outs around your fixed rate expiry to help you get ready.
Don’t miss this episode.
You Have My Interest is brought to you by Everlend, a mortgage and finance broking firm built for the purpose of educating and empowering you to make informed financial decisions tailored to your wealth goals. Find out more and book in your free initial consultation at https://www.everlend.com.au/
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You Have My Interest provides information and educational content relating to mortgages, finance and property. You Have My Interest‘s content is general in nature and does not take into account the individual financial, legal or tax needs or objectives of its audience members.
It is not intended as a substitute for professional advice. Listeners should seek out a licensed professional to discuss their individual financial, legal and tax requirements.
If you need mortgage or finance advice tailored to your own personal situation, contact Everlend today for a free consultation. Everlend are authorised credit representatives of Loan Market Pty Ltd, Australian Credit Licence number 390222.
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