G'day, Thinking of financing with interest only repayments. In this scenario, I'd like to pay as little deposit as possible i.e. less than 10%. Are lenders happy to go for that arrangement, given you have a solid ability to make payments?
For example, I'd rather keep 40K in my pocket than give it to the bank. Obviously I need to consider the downside risk of a falling market etc.
Any
cheers
JADSHi Jads
Yes you are not required to utilise all of your savings as a deposit.
Many lenders have now cut back their maximum loan to 90% however still a few doing 95% LVR.
You would be better of to look at a 100% offset account where you would get the best of both world being immediate access to your funds as well as an interest saving on your loan.
Richard Taylor | Australia's leading private lender
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