Hi,
Is it possible to secure an 80% LVR with no savings or securities?
To make this work I would need the vendor to agree to finance the 20% over a 5 year period on or after settlement?
Cheers.
Yes totally achievable but whether you can find a Vendor to consider taking a 2nd mortgage is a different matter.
I assume you can cover your acqusition costs.
Richard Taylor | Australia's leading private lender
Hi
As Richard says, it is achievable.
Whenever we are buying we know people are negotiable in two areas, i.e. the price or the terms. We've also learnt that we don't normally get agreement from the vendor in both areas, i.e. if you get them to move on the price, you don't normally get any movement on terms.
In the case of buying with deposit finance, you're asking for them to be negotiable as to when they'll receive all their money. We find we normally have to offer the asking price, to get this across the line.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
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