Posted by
kid
17 yrs ago
I currently have a 95% mortgage on a property that I am selling and bought for investment. I have now found a property I want to live in and need to get another 95% mortgage. Is this possible or will the mortgage corporation spot this?
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not possible, the bank/mortgage corporation will only provide 95% financing for your primary flat, i.e. you must reside there. for the 2nd flat, they can only provide up to 85% mortgage (this new rule became effective in Nov 2007), it used to be 70% only.
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