Vendor Deposit And Banks


	vendor deposit and banks grant7 [59 Posts] Submitted by grant7 on July 25, 2008 - 12:36pm. Joined: 11/01/2006 Hi All, Looking at selling a house to someone who lacks the deposit. If I lend them say 5-10% deposit interest free say for 3 years. Does anyone know does the interest free loan need to factor in thier serviceability - and if so how? Would the lender mind the deposit coming from the vendor like this (and no the house price is not inflated to cover the deposit). Or else would it be better to lend it IO at fixed 5%? Least then can easily factor the payments and may seem like a more 'normal' loan by the lender? Many Thanks Grant login or register to post comments Previous Topic Can't get LMI for loan on high density property purchase Next Topic Wizard home loans	User login Username: * Password: * Register Forgotten your password? In The News RBA Rate Drops Rate The RBA has just announced a 100 basis point drop to its benchmark cash target rate. Developers Expectant The Federal Government's $1.5 billion first-home package has stimulated the development market. RBA Rate Cut RBA delivers investors an early xmas present by cutting its benchmark by 75 basis points to 5.25% more news Today's Tip You should never pay more than 30 cents in the dollar in income tax <more> Active forum topics Breaking a fixed interest contract Author: marie07 [0 replies] Where is the bottom Author: wealth4life.com [16 replies] more topics Who's Online Take The Test