Line of Credit
A revolving credit facility secured by your home. Like a big overdraft.
What is Line of Credit?
A line of credit is a pre-approved pool of money you can draw from and repay flexibly — secured against your property. Works like a large overdraft. Interest is charged only on the drawn amount.
Why it matters for you
Useful for investors managing cash flow across multiple properties, or homeowners planning staged renovations. Higher rates than standard home loans. Requires discipline — easy access can lead to creeping balances.