ianderson replied to the topic 11.5% Yield on 50K property, need equity… in the forum Finance 19 years, 10 months ago
sorry about that lovely signature,
Regards,
Ivan
0403 044 660
ianderson replied to the topic 11.5% Yield on 50K property, need equity… in the forum Finance 19 years, 10 months ago
Dear MM,
Responding to your reply last night:
________It is easy to get a loan for this property if it is zoned residential and the town has 10,000 people. No mortgage insurance will apply if you have a substantial deposit. I would still like to know how much deposit you have before I can tell you which product is available.
I did a low doc,…[Read more]
ianderson replied to the topic 11.5% Yield on 50K property, need equity… in the forum No Subject 19 years, 10 months ago
Perhaps this excerpt taken from an email from my accountant’s mortgage broker will shed some light on the situation:
‘The finance we considered for you had to be under a “lo doc” scenario, as
you did not have two years full personal and company taxation returns. The
major stumbling block was the “mortgage insurer” would not recognise the
town as…[Read more]ianderson replied to the topic 11.5% Yield on 50K property, need equity… in the forum No Subject 19 years, 10 months ago
Thanks guys,
There is no problem with putting down a decent deposit, it’s the fact that I am self employed and cannot produce the required financials. Am currently speaking with a branch of my bank located in this town, hoping for a more desirable result.
Unfortunately as the banks don’t want to speak to me at this stage, I think my best option…[Read more]