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About Me

Nitya Shivraj

Finance Broker
realestate.com.au Home Loans
Berwick, Victoria

My Activity

Q: How can I leverage the equity in my home to start a new business and limit risk & cashflow during the startup phase?
A: All the very best with your start up.

Ideally lenders have a ceiling on the cash out you can have on your home loan without stating purpose.

If your cash out is under this ceiling you can go ahead and withdraw funds and put it towards the purchase without the hassle of explaining the use of funds.

If you need more funds, you will need to consider a business loan backed by your home as security.

Most business loans are 60-70% LVR and banks expect you to fund the rest of the purchase or start up.

Projecting your cash flows and estimating your costs for the start up properly in advance will help you understand the risks. I highly recommend undertaking this exercise which will help comprehend total funds required.

Business purchases / start ups require comprehensive discussions and am happy to have a chat if it helps you.


Q: Are redraw facilities easy to use? Can they be online or do I have to call the lender every time I want to access funds?
A: Great job on being ahead of your repayments and building up a redraw!

Redraw facilities are ideally available through net banking, telephone banking or a manual redraw.

Net Banking facility allows u to organize a redraw quicker than the other options.

Based on the financier and the home loan facility there maybe a charge involved or it could be free.

If u advise the product & financier you are with, happy to check & confirm options available to you.