AFR- Wizard loan to split profit

[agent007]

There is an article in todays AFR regarding split profit loans. Apparently, it will be introduced to the market in another 6 weeks. No deposit is required and the loan could be between 102% to 105% of the value of the property. The rates would be at 7.69%. The Bank will have 50% of the profit after the property is sold when it is sold... I was wondering how this product would affect property prices if it would considering the current state of the cycle???. I personally wouldn't use it unless I see the potential for growth in the short term.

Regards,
James.

[Aceyducey]

Agent,

You need to scan the forum before posting.

We're already discussing this in a different thread :)

Cheers,

Aceyducey

[geoffw]

Specifically, this thread (http://www.somersoft.com/forums/showthread.php?t=17614)

It was hidden away in the Finance & Accounting forum.