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Landlord Discussion

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Re: 100% mortgages(YES!!! Sort of!)

From: Jeremy Brown
Category: Category 1
Date: 07 Jan 2002
Time: 02:49:08
Remote Name: 195.92.168.172

Comments

Most B-T-L mortgages are 80/85%. However there are some lenders that will lend against valuation, as opposed to purchase price. With these lenders you can get a 100% (sort of) mortgage if you can get a higher valuation! EG:

Purchase price: 80,000

Valuation price: 100,000

80% Mortgage: 80,000

This can also be very powerful if you are purchasing multiple properties and receiving larger discounts. I recently bought a property for 250K, Val 330K, 80% mortgage 264K = 105% of purchase! If you want to know more, I am a mortgage broker, email: home_shield@hotmail.com


Last changed: July 01, 2003

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