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The Blueprint Renovation Loan
There are three options to finance your investment;
1. The traditional way
2. Using equity in your existing property
3. The Blueprint way
With the traditional way, you apply for finance for up to 90% of the purchase price of the apartment. You use your own funds to pay for deposit, purchase costs (eg stamp duties, legal fees), plus the costs of the internal and external renovations.
If you use equity, depending on how much equity you have in your existing property, you can borrow up to 100% of the purchase price of the apartment plus the purchase costs plus the costs of renovations. You do not have to contribute any of your own funds.
But if you do not have enough of your own funds or equity to complete the purchase, what’s the alternative – the Blueprint Renovation Loan. Fiducia highly recommends Blueprint as it will lend up to 90% of the value of the apartment and lend you 100% of the renovation costs. All you need to do is fund the deposit, purchase costs and mortgage insurance in some cases. The Blueprint Renovation loan has by far been the most popular for investors and home owners to maximise the use of their own personal savings.
Fiducia does not receive any referral fees for recommending this product to any of our clients. Quite simply, we recommend Blueprint as it has proven time and time again to be so beneficial to so many of our clients. Its strength is it maximises the use of personal savings by being able to borrow the renovation costs.
This product was created by The Mortgage Store located in Crows Nest, Sydney, whose service and commitment to assisting clients has proven to be invaluable. If you would like to contact them directly please call 1300 651 849 or go to www.mortgagestore.com.au for more information.
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