Hi all,
Having only just bought our first home with just under 90% lending, I would like to buy an investment property. My bank has said that we need to save at least 5% and show regular savings for at least 2 months, but preferably 6 months.
I want to know if there are more flexible options out there, i.e. 100% finance for IP with our current financial situation, with another lender. Would another lender be possible with our PPOR as security for our current mortgage with own bank?
Advice greatly appreciated. The IP would be cashflow +ve with 100% borrowing.
Thanks
Aroha
Having only just bought our first home with just under 90% lending, I would like to buy an investment property. My bank has said that we need to save at least 5% and show regular savings for at least 2 months, but preferably 6 months.
I want to know if there are more flexible options out there, i.e. 100% finance for IP with our current financial situation, with another lender. Would another lender be possible with our PPOR as security for our current mortgage with own bank?
Advice greatly appreciated. The IP would be cashflow +ve with 100% borrowing.
Thanks
Aroha
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