Thanks for that. Was actually asking because I know someone who is in that position. They actually think they can sell their investment house and spend that equity while their residential house would have LVR of about 110%. Told them the bank has an interest and will decide whats happening but they said that they wil just sell and not tell em,lol. Funny, used to be married to one of them.
Three houses, average wage and financially illiterate. Can't believe the bank actually gave them the loan only 12 month ago. 100% with the other two houses having had around 10%-15% equity at that time.
