SearchOptions at 61?
Glen asks:
(updated on Thursday, April 30th 2015)
I am 61 and on an invalids benefit. I have a freehold house with $500,000 equity. Do you think banks lend to me? I'm wanting a modest investment property, using my freehold property as security with little or no deposit?
Our Experts Answer:
Your issue is going to be around servicing, unless you have income other than the benefit. One option if you have someone who you trust, is to look at doing a joint venture if they have the income but maybe not the equity to be able to put a deal together. Just be careful though and if you go down this route take legal advice to ensure you are as protected as possible.
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