Quote:
Originally Posted by FinancialFreedomGurus
There are lenders that will do 90% BTL mortgages and ones that still accept 5% gifted deposits.
Just need to use a creative technique to minimise your cash outlay.
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Hi, can you please elaborate on the creative methods one can use to minimize capital outlay? I would like to get a 100% mortgage for a BTL property deal. with high yields i believe the rental income should cover rent in Dubai, is this the case?
Could one arrange with a mortgage provider to give them 20-25% ownership in the property as opposed to a deposit, the investor takes all the rent though, he pays the full (100%) mortgage, but the bank is secured as they own 20-25% of the property but get mortgage payments for 100%. this way they really benefit and the investor will have a good starting point with a 100% mortgage? Then in a year or so, maybe the investor can acquire the remaining 20-25% at prevailing market prices.
Does this idea make any sense, would it be considered in Dubai?