Hi Guys,
I'm currently trying to finance an apartment purchase.
However, I got knocked back on my first application because the credit check unearthed a debt we didn't even know about - a more detailed discussion about that is here: http://www.somersoft.com/forums/showthread.php?t=55471
I really need 80% LVR to be able to borrow with my partner's black mark on the credit rating. My broker and a few other people have suggested I get a personal loan to fund the shortfall in the deposit. I need another $40-50k to make up 80% LVR.
Will lenders lend me money for a deposit? It seems silly to me. How should I go about it?
I shouldn't have any issue borrowing or repaying a $40-50k loan, but how do I ask for it? If I just said I want a loan for a home deposit will they just laugh?
Thanks!
I'm currently trying to finance an apartment purchase.
However, I got knocked back on my first application because the credit check unearthed a debt we didn't even know about - a more detailed discussion about that is here: http://www.somersoft.com/forums/showthread.php?t=55471
I really need 80% LVR to be able to borrow with my partner's black mark on the credit rating. My broker and a few other people have suggested I get a personal loan to fund the shortfall in the deposit. I need another $40-50k to make up 80% LVR.
Will lenders lend me money for a deposit? It seems silly to me. How should I go about it?
I shouldn't have any issue borrowing or repaying a $40-50k loan, but how do I ask for it? If I just said I want a loan for a home deposit will they just laugh?
Thanks!