im just asking if i can borrow $3 million from the bank. How much deposit should i put in?
thanks a lot.
Nehal Rajan Singh
Depending on the property, at least 30-40% I think.
Terryw
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
I reckon if you have to ask that question to obtain guidance from a general lay public forum, you aren’t in a position to receive approval.
Cheers,
Dazzling
“No point having a cake if you can’t eat it.”
Dazzling,
I am a bit more gentle…, I could never be as blunt as you are, but must admit I could not help laughing, reading some of you posts as most of the time they are exactly what went through my mind.[biggrin]Sorry Nehal – peace [biggrin]. BTW if you have enough equity used as “deposit” i think you can borrow up to 100%.
Moonyhi
people ask me questions like this all the time, and are never in a position to be able to do it.
btw – you can borrow over 100%, usually 105% to cover costs – as long as you have enough equity to satisfy the lender.
If you are in the position to borrow $3mill from the bank, you will make your personal banker a very happy chappy! There will be a lot of details about the property that will count though, is it metro, rural, block of flats, one large estate, block of land etc
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