My Partner & I are applying for finance today for a property we successfully offered on last week.
The product we will be applying for is the BW Mortgage Shredder (95%).
The offer was accepted @ $367 500, which means we will be showing genuine savings of $18,375, which we have. My question was basically just wanting someone to clarify "genuine savings".
It's just that we have an almost equal amount which we will be receiving from shares that were tied up in my partner's parent's portfolio. This $ will be in my partner's account over the next day or 2.
We need to pay a deposit to the agent this week and were wondering if we need to wait for the shares money to come through (day or 2) or if we can use some of the $18,375. I just needed to know how BW will want to see the 5%. Can it be in different accounts? does it matter how it got there? etc.
I'm sure my Broker will let us know tonight, I just wanted to see what you guys thought.
Cheers
Steve
The product we will be applying for is the BW Mortgage Shredder (95%).
The offer was accepted @ $367 500, which means we will be showing genuine savings of $18,375, which we have. My question was basically just wanting someone to clarify "genuine savings".
It's just that we have an almost equal amount which we will be receiving from shares that were tied up in my partner's parent's portfolio. This $ will be in my partner's account over the next day or 2.
We need to pay a deposit to the agent this week and were wondering if we need to wait for the shares money to come through (day or 2) or if we can use some of the $18,375. I just needed to know how BW will want to see the 5%. Can it be in different accounts? does it matter how it got there? etc.
I'm sure my Broker will let us know tonight, I just wanted to see what you guys thought.
Cheers
Steve