This week on Ask Rob & Rob, James Scott asked:
Is remortgaging always a good idea?
It’s really important to make sure that you’re making money each month. If you borrow more money and consequently start making a loss, then you could be in trouble down the line, unless you have a lot of spare capital.
On the other hand, it’s a great way to grow your portfolio – just as long as the numbers add up. If you’re comfortable with the figures, then go for it. Otherwise maybe you’re better off not borrowing any more. If you need help working things out, make sure you have/get a great broker, as this kind of question is precisely what they’re there for.
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