Before making a borrowing decision, understand the important concepts and questions. The following guide is a general explanation, not a personalized lender offer.
Property is the security
A loan secured against property creates obligations linked to that property. Failure to repay can result in enforcement action and possible loss of collateral in accordance with applicable law and the agreement.
Valuation and borrowing limits
Lenders may obtain valuations and apply loan-to-value rules; the resulting amount is not assured.
Plan conservatively
Review cash-flow resilience, conditions, charges and alternatives before pledging an important asset. Seek independent legal advice when necessary.
This article is educational, not personalized financial, tax or legal advice. Lender rules, interest rates and applicable requirements can change; confirm the current terms with a regulated lender and a qualified professional.