We are also applying to AMP to bring our existing loans up to the 80% level, generate enough capital to pay off the caveat loans. This is the first stage of a process of amalgamating everything back into an AMP Master Limit, so that I only have to remember one set of account details.
Hopefully, it works like this: AMP agree to up our existing loans & issue a formal approval. We than take that formal approval back to the caveat lender to demonstrate that we can repay their loan & they remove the caveats, allowing AMP to proceed with their normal loan process. The funds from that process are then repaid to the caveat lender & we get rid of them for good.
The next stage is to bring all of the other properties into the AMP portfolio & then somehow generate enough spare cash to be able to escape in our freedom machine permanently. More on that when it happens!
