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HashChing is Australia’s first online marketplace allowing consumers to access great home loan deals without having to shop around. Completely FREE to consumers, HashChing connects you directly to verified mortgage brokers who can further negotiate a better rate from the lenders and save you time, hassle and money.

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Saw

3 years ago

Hi John,deposit bond is your best bet. I can get you one easily. you can also ask developer to accept 5% deposit. In this current market, most vendor are likely to be negotiable. you can reach me on 04****67 anytime for no obligation advice.Cheers,Saw

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kelvin

3 years ago

Deposit Bonds - Equity all make sense. As a broker only you can decide if the risk should be taken.

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Gary

3 years ago

Hi John,Have you heard of a deposit bond? You could use one in lieu of cash although it works in much the same way. One benefit is the builder can only call the bond in if you default on the contract whereas when they have your cash they can use it almost any way they like. You could keep your cash in a savings account or offset account if you have an existing loan.Do you already own a property?Regards,Gary

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Sean

3 years ago

Hi John, not saying this isn't a great idea here but I would say it is slightly risky to purchase without the cash now as a lot can happen between now and next year. You will generally find it very hard to get out of the contract once signed up. Just make sure you put a safeguard/contingency in place for a short valuation or not being able to come up with the entire 10%. is it a house/townhouse you are looking at?

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Shabnam

3 years ago

Hi JohnIf you have another property that you can offer as a security and has enough equity in it e.g. if you have equity of $150K in another property, you don't even need to use your $60K.Please feel free to contact me anytime on 04**** 476 to discuss possible options and scenarios in detail.

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Sam

3 years ago

Hi JohnDo you have equity in another property of your own or can you parents offer their property as security?Please contact me on 04**** 308 to chat further about your options.RegardsSam

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