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i found a small catch in the financials for the renovation toolbox equations, even though you have the repayments for the 6 mths you hold the property the bank wont lend you the money if your wage cant afford the repayments.
does anyone know a way around this?
Could you get a guarantor who is willing to back you? Then they, at least, have the wage.
Kelly
Downside with a Guarantor (and assuming they have some financial benefit) is that all of their liabilities will be taken into consideration i.e home loan, personal loan, car loan, credit card etc etc.
I Guarantor is not always the answer.
Richard Taylor | Australia's leading private lender
Viewing 3 posts - 1 through 3 (of 3 total)
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