Hi there.
I have been looking the Display Homes to invest in for a while.
I do have PPOR and have some mortgage left on it.
I do have 20% deposit but not enough to cover the stamp duty.Does any know any lender that
1. Accept Display home with about 7-8% lease back as security?
AND / OR
2. Capitalize the Stamp Duty for Transfer as well as Stamp Duty on Mortgage on the loan amount.
Thank you very much for any advice or suggestion.
Hi Wannabe
Welcome to the forum and I hope you enjoy your time with us.
Difficult to give you any information without hard data.
Mortgage insurers dont like lease back display homes but depending on the rest of the deal maybe ok.
Richard Taylor | Australia's leading private lender
Hi Richard,
Thanks for your response and sorry for the late reply.
I wanted to buy a display home for about $400K and wanted to borrow $360K + Stamp duty
I called a few lenders but they don't lend more than 80% for Display Homes as Mortgage Insurers don't accept Display Homes.Do you know any lender who would accept it?
Thank you.
Yes there are a couple but as I say a lot more informatiuon would be required in regards to the balance of the deal.
Richard Taylor | Australia's leading private lender
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