I’ve been talking with a large number of first home buyers these past few months. Earlier today I was reflecting on what has changed since the “credit crisis.” Here are my thoughts
It has become a lot harder to get a mortgage, unless you have a big deposit or equity in another property. If the bank says no, then a second mortgage can be a cost effective and flexible back up option. A Second Mortgage is exactly that. For higher risk lending we sometimes use a bank
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