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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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Lindsay

2 years ago

Hi Matt, Are you saying you don't want to put in a deposit or you don't actually have any funds to put towards a deposit? Any lender is going to want to see that you have funds to complete the purchase, a deposit bond can assist if you don't have access to the funds right now but will have the funds prior to settlement, e.g using equity from another property via refinance/equity release.

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Matt

2 years ago

Hi Bernie Looking at all options. I don't want to put in a deposit owner will help out but not a family member

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Bernie

2 years ago

Hi Matt, I don't quite understand your question. Are you looking for a way to purchase without having the deposit yourself? One thing to remember is that if the contract price is $295,000, a lender will do their own valuation on the property will only lend on the valuation. If the actual value is $295,000 and the seller only wants $270,000, if the seller is a family member, you may be able to purchase under what is called a favourable purchase. I would need to discuss it further with you. My contact details are on my HashChing profile.

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