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Old 28th Apr 2009, 08:02
  #15 (permalink)  
EK4457
 
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On the finance side - I would expect the loan value to be no more than 60% of the EQUITY in the secured property. Sounds like a slight technicality, but in actual fact a huge difference.

If you try and use a property which has just been purchased with a 100% mortgage (unlikely I know) they will laugh you out of the branch. It is your equity they are after. Property value is almost incidental.

Also, as mentioned earlier, Nat West are by no means a market leader. Anyone will offer you a secured loan with enough security even today. A 'taylored loan' is management speak for 'it depends how rich your mum and dad are'.

These open days are good - but you do need to go armed with some industrial strength gloss remover to get the most out of them.
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