Finding relief from mortgage stress
If you're feeling overwhelmed by your mortgage repayments, you're not alone.Many Australian homeowners are struggling with mortgage stress because of today's high interest rates. But there are...
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Unencumbered Property
An unencumbered property is one that is free from any legal or financial obligations or restrictions.
What is an unencumbered property?
An unencumbered property is one that is free from any legal or financial obligations or restrictions. This means there are no outstanding debts, liens, mortgages, or other encumbrances with no claims or interests from creditors or other parties.
What happens when there is an encumbrance on a property?
If you have an encumbrance such as a mortgage on your property, lenders might refuse to approve a loan for this purpose. This is because you pose a higher risk of default on additional debt.
What does unencumbered value mean?
The unencumbered value refers to the estimated worth of something, like property or an asset, without considering any debts, loans, or other financial obligations associated with it. It's essentially the value of the asset if it were free from any liabilities.
What's your property worth in today's market?
Compare your property to recent sales in the area to get a current market estimate.
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