Hello, My mother has an equity loan through ING ($40k approx) against her house in Oakleigh that she inhereted from her mother. She is now wanting to sell that house and move closer to me in Werribee.With the idea of buying a house for her to live in and possibly a house to provide a rental income for her. What is the best way to proceed allowing us to get her house on the market to sell but also be able to put offers in for properties we are finding now that would be suitable.??

Hi Robert,
Assuming that your mother doesn't currently earn an income, she will need a bridging loan that calculates servicing on the end debt only.
This depends on the expected value of the property being sold being higher than the current accumulated interest with ING, the costs of the new purchase, interest on the new purchase and the value of the new property.
I would suggest that holding off on the investment purchase until after you have sold the current property might be a more prudent option.
If you would like to meet and discuss lenders and options, please feel free to get in contact through our website
www.mobilelender.com.au
Kind regards
Scott