Hi I would like to purchase a property to live in around $650k in the Sutherland Shire in Sydneys south. I am looking for a deposit for the purchase and I am willing to share the equity in the property over 24-48mths. I will pay the loan and all of the property expenses. Is there investors that lend money for this purpose?
Considering you will need for them to offer you a minimum of 10% plus costs (to get around the mortgage insurers requirement that you have a minimum of 5% saved over 3 months) and wont be able to offer them anything but a 2nd mortgage after the lender has registered there mortgage i dont think you will find too many willing investors.
Remember they will need to gift you the funds prior to exchange and have no security until settlemet.
Anyway only my opinion.
Good luck.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Nelly
Welcome to the forum.
What makes you think the property will go up in value over this time? Is it the location or are you doing something to the property which will add value?
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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