I want to do property trading but would prefer not to get a pre approval for each property.
I was speaking to a property trader who said they used a loan to get approved for their first property with that house as security. When they sold it and in order to keep the loan available for the next one they secured it against a term deposit by using the loan funds and putting them in a term deposit
Is this still possible to do?
Are there any disadvantages of doing this?
thanks
I was speaking to a property trader who said they used a loan to get approved for their first property with that house as security. When they sold it and in order to keep the loan available for the next one they secured it against a term deposit by using the loan funds and putting them in a term deposit
Is this still possible to do?
Are there any disadvantages of doing this?
thanks
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