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From: Investor Newbie
I was on the site earlier today looking round, and woke up at 3am, wanting to look round more!
Anyway, for the past two hours, I’ve been looking at wraps (here and elsewhere), and I have a few questions.
When buying a house, the bank (or other landing institution) insists that you pay mortgage and put their name on it as first mortgagee. How does this synch with you wrapping a mortgage around theirs?
What is a reasonable interest rate to charge? 0.5% above your banks rate? 1% above? However much will the market bear? How much is that?
Has anybody had success with wrapping in regional areas? Is it easier or harder than major metropolitan areas?
Thanks in advance
investor_ newbie
I was on the site earlier today looking round, and woke up at 3am, wanting to look round more!
Anyway, for the past two hours, I’ve been looking at wraps (here and elsewhere), and I have a few questions.
When buying a house, the bank (or other landing institution) insists that you pay mortgage and put their name on it as first mortgagee. How does this synch with you wrapping a mortgage around theirs?
What is a reasonable interest rate to charge? 0.5% above your banks rate? 1% above? However much will the market bear? How much is that?
Has anybody had success with wrapping in regional areas? Is it easier or harder than major metropolitan areas?
Thanks in advance
investor_ newbie
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