I got one of those Sydney CBD units that are not doing too well at the moment. The banks ain’t too kin on lending money for it.
My mortgage broker suggested a company that could offer 80% finance. Of course this is good news for me, but I’m a bit worried about these small lenders.
Such as those fine print of standard variable rate could be just honeymoon rate. I guess what I’m asking is if there’s anything in particular that I should watch out for before signing.
Plus is that in general that borrowing anything over half a million I would most likely need lender insurance?
