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From: Mike .
Ways to increase my loan LVR% ??
From: Paul
Date: 07 Feb 2001
Time: 07:38:03
Would appreciate any idea's or comments on ways to try and increase my LVR % (loan to valuation ratio %) on my loans.
I am very much limited to a max of 80% because of the type of finance (No doc's) I have to use and loan insurance doesn't help.
I am buying houses at 10-20% below retail price, but the bank valuers always use the lowest figure of either the purchase price or their valuation price. So your can't win ?
Ways around it please? Some ideas:
1- Get the seller to inflate the sale price on the contract and then rebate me the same amount at settlement.
2- Have a two page contract with the inflated buy price on the first page (I am told this is all most banks require to see) And then the 2nd page of the contract has a discount for early settlement (back to my normal purchase price)
Or other ways? Any ideas or comments on the above?
Regards - Paul
Ways to increase my loan LVR% ??
From: Paul
Date: 07 Feb 2001
Time: 07:38:03
Would appreciate any idea's or comments on ways to try and increase my LVR % (loan to valuation ratio %) on my loans.
I am very much limited to a max of 80% because of the type of finance (No doc's) I have to use and loan insurance doesn't help.
I am buying houses at 10-20% below retail price, but the bank valuers always use the lowest figure of either the purchase price or their valuation price. So your can't win ?
Ways around it please? Some ideas:
1- Get the seller to inflate the sale price on the contract and then rebate me the same amount at settlement.
2- Have a two page contract with the inflated buy price on the first page (I am told this is all most banks require to see) And then the 2nd page of the contract has a discount for early settlement (back to my normal purchase price)
Or other ways? Any ideas or comments on the above?
Regards - Paul
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