How do people actually go about finding vendors that are willing to finance part of a purchase?
I'm currently running low on a deposit after my last purchase, so I thought I'd investigate this a bit further. Ideally I would like to purchase a property, get an 80% bank loan and get vendor finance for 25%.
Do I just start making offers with this clause in it?
How do banks generally respond to contracts like that? Are they more likely to reject an application like that?
Are there any pitfalls that I'm not thinking of?
What terms are reasonable to request for finance? Would 5.5% over 5 years be appropriate?
Are there any pitfalls that I'm not thinking of?
I'm currently running low on a deposit after my last purchase, so I thought I'd investigate this a bit further. Ideally I would like to purchase a property, get an 80% bank loan and get vendor finance for 25%.
Do I just start making offers with this clause in it?
How do banks generally respond to contracts like that? Are they more likely to reject an application like that?
Are there any pitfalls that I'm not thinking of?
What terms are reasonable to request for finance? Would 5.5% over 5 years be appropriate?
Are there any pitfalls that I'm not thinking of?