Hi All
Hope you can give me some advice. We are ready to start investing in csh+property. There is a house which we want to make an offer on. Before we even started looking we talked to two mortgage brokers and they said we would have no problem securing finance, using the equity in our unit for the deposit and closing costs.
The problem: the house is in a country town. The two mortgage guys say that the post code does not exist on any banks list of approved areas for lending. It is a big enough town with a population of 16,000.
They say that if we went ahead we would have to use the equity for the whole purchase price. Which in turn would mean we could not use the equity in our unit again for other deposits.
So how does everyone else secure finance for country towns? Please any advice would be much appreciated as we do not want to miss out on this deal.
Regards
Delboy
Email me the postcode please.
I will se what I can find out for you.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Please Email the post code to me, I may find a broker for you
Julian [strum][strum][strum]
THERE IS ALWAYS A BETTER WAY!
Depending on the price, you may be able to go up to 95% lvr.
check out what one of the mortgage insurers will do at:
http://www.pmigroup.com.au/LocationWizard.aspTerryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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