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Refinancing to access equity allows homeowners to borrow against their property's increased value for renovations, investment purchases, or debt consolidation.
Most lenders allow you to access equity up to 80% LVR without LMI. If your property is worth $800,000 and you owe $500,000 (62.5% LVR), you could potentially access up to $140,000 (to reach 80% LVR).
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