Gordon Gekko
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Say a house is worth €500k and parents agree to sell it to their son for €250k.
Would a bank lend the €250k to the son without him having a deposit? Assume he has a savings and rent payment history which more than cover the monthly repayments and a clean credit history.
And would the LTV be 50% for the purposes of determining the applicable interest rate?
CAT and stamp duty can be ignored for the purposes of this query.
Many thanks.
Would a bank lend the €250k to the son without him having a deposit? Assume he has a savings and rent payment history which more than cover the monthly repayments and a clean credit history.
And would the LTV be 50% for the purposes of determining the applicable interest rate?
CAT and stamp duty can be ignored for the purposes of this query.
Many thanks.