Sounds great that the bank is lending you the 105% !!
Are they using your other homes as securities? If so, that would explain the great interest rates you are recieving. Usually on a no deposit loan you would pay a 1% margain on the std variable. If they aren’t using the other properties as sec then it’s simply a great deal! Just ask about an advance. Usually with a no deposit loan the bank will ask for a 2.5% advance instead of lenders mortgage insurance.
You could then still use part of you deposit for the advance and the rest for renos??…..
I will have a better look today at work but I am pretty sure the usual LVR for business loans are the same as normal loans. Depends what business it is….
Is it a company? Partnership?
