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Did look into purchasing some land from these guys.
The land subdivision turned out to be in a totaly different area to what they adverised.
Honest mistake? A bit suspect if you ask me.
Be careful.
B
Hi Pricey
One other option(if you’re looking under the 200k mark) is to do a 90% lend with the 10% borrowed from other sources such as a personal loan.
If you’ve found a great + cashflow property, you should be able to pay out the personal loan as soon as you have extra equity in the property that you can access(need a flexible mortgage here), or refinance to a lender who will do a 95% lend, providing you can handle the mortage insurance.
Just have to do what you have to get into the market in the first place, as you have to be in it to win it.
Regards
BrendonHi Craig
You could try a number of non-conforming lenders out there.
I work for one here in QLD, and our company can do loans for clients with no savings history(gifts ok) and bad credit histories. Unfortunately we are not well known outside QLD.
As long as you have a job our company can do 90% lends, Full Doc at 7.2%. No catches, just basic loans with no fees, that are flexible enough to run similar to a Line of Credit.
We also allow borrowers to revalue their property as often as they like to increase the limit and access the equity to purchase again. Basically it is tailor-made for investors.
Another one you could try is Resi Mortgage Corp, similar company with basic no-frill loans.
If you would like more info feel free to e-mail me on [email protected]
I realise this seems like a sales pitch but just to let you know there are other options out there and they don’t involve high interest rates and inflexible loans.
Regards
Brendon
