Purchasing Property - Sub Prime Crisis

Purchasing Property - Sub prime crisis

Life still goes on, and it is hard to sort out the facts from the fiction. Here is some reality from the coal face as I am in the final stages of finalising a property.

You can see the property in the "property live" video series in the club, but I though I would share with you some of the realities of gaining finance in what is definitely a changed world thanks to the sub prime. Here is my direct experience in Australia:

- the low doc / no doc loans have been seriously handicapped with extra buffer interest fees no meaning many are well over the 10% mark
- the amount of scrutiny I have been under has intensified and the number of documents being requested is significant

So, be aware, and make sure you are well placed to raise finance as you have to work hard for it!

Of course, life still goes on, so concentrate on the big picture and don't get frozen in the headlights, despite all the media hype and panic with the sub prime crisis.

For more info on purchasing property go to

www.keystosuccessclub.com/property/purchasing-property

Mark



Purchasing property - sub prime crisis