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Hi everyone,
Just want to get advise on Person to Person loans, Has anyone had one before to use as a deposit to get into the property market? If so how much did you borrow and how did it work?
Never needed one but have been on the other end and funded one.
Worked fine in this case but often timing can be an issue.
Person lending the money wants security and this cant be obtained until settlement however funds usually needed up front to show deposit for the loan from the main lender.
Kinda chicken and egg issue.
Couple of ways around it if you have other equity, savings etc.
Richard Taylor | Australia's leading private lender
Viewing 2 posts - 1 through 2 (of 2 total)
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