Davey;
I believe Comsec's minimum amount for a Margin Lending Account is a borrowing of $40,000.
Meaning one would need $60,000 worth of Anvil shares to be able to take on the $40,000 worth of extra shares as a loan.
If borrowing amount is less once the account is accepted one must pay interest on the minimum amount - ie interest on $40,000.
Regardless of the amount borrowed - even if that is reduced to less than $40,000
I THINK that is how it works anyhow.
Ricky;
Try ---- https://www.comsec.com.au ----- and work from there.
Miningnut;
This morning when I checked the securities list for my account on Comsec (have been away for most of last week) was pleasantly surprises to see a LVR rating for Anvil of 40% which increased my borrowing capacity accordingly.
Presumed that Comsec had accepted Anvil as security for all!
Perhaps the inclusion of Anvil as security in my case was the result of a personal request some time ago?
Have not received any notification about this matter from Comsec.
Just the pleasant surprise this morning.
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