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Glossary  
29/09/05
Equity reduction limit

Also called 'equity cap'. The limit to how far your home equity can be reduced, ie. no more loan funds are advanced once loan liability reaches 50, 60 or 80 per cent of the value of the proprty (which means home equity is reduced to 50, 40 or 20 per cent). Some lenders allow borrowers to set this limit.
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