Recommended Posts

    Hi Sharon

     

    Generally the absolute maximum mortgage that can be achieved is 95% (plus Lenders Mortgage Insurance capped) therefore a 5% deposit and fees of approx 5% are required.

     

    I know of one product whereby it may be possible to have the fees added to a credit card with the lender at mortgage rates (up to $20k) and therefore if the fees are less then $20k only a 5% deposit would be required.

     

    However this product doesn't suit everyone and it also requires a strong income to be able to service, stronger than ordinarily would be required.

     

    The other requirement is that the 5% deposit has to be verified as genuine savings, this essentially means that they should have been held/saved over at least a 3 month period.

     

    Regards

     

    Andy

    Share this post


    Link to post
    Share on other sites

    Create an account or sign in to comment

    You need to be a member in order to leave a comment

    Create an account

    Sign up for a new account in our community. It's easy!

    Register a new account

    Sign in

    Already have an account? Sign in here.

    Sign In Now