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Is your deposit a gift from relatives?

Is your deposit a gift from relatives?

If you are looking to buy a property, chances are you are aware that you need some kind of a deposit. It is possible to borrow 90% or 95% of the property value, but there are certain conditions that must be met to qualify for a loan.

If you have not saved up your own deposit, and it is a gift from your family, many banks will not consider this as true savings, in which case they may turn you away for your loan.

Fortunately, there are options available to you, in particular, for those whom have a rental history through a licensed real estate.

At Sydney based Bee Finance Savvy, we work with over 30 lenders, and we always keep up to date with the latest policies and rules, surrounding new loans.

We know just where to take you, if you fit into the above scenario.

So don’t waste time, or damage your credit file by putting applications in directly with the bank. You wont know which bank has the better suited policy for you, and you could make it even harder to get a loan if you start marking your credit file unnecessarily.

To ensure that you are matched with a lender that is most suited to your needs, contact Sydney based Finance Broker Bee Finance Savvy on 1300 140 554, or email us at enquiries@beefinancesavvy.com.au


You may also enjoy – https://beefinancesavvy.com.au/do-you-want-to-borrow-more-than-90-of-your-intended-property-purchase/

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