Property Finance conditions have been changed at St George particularly with respect to equity redraws. This is an important change especially to investors who have an intent to take cash out of their property without selling.
According to my strategic finance broker, Loans Australia, St George have now limited the amount of redraw to $10,000 unless the money is specifically tied to an investment. This is the case even with full doc loans
Ouch!
Is this a sign of things to come as it will radically change the investor landcape
St George – Property Finance Update
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