PPRuNe Forums - View Single Post - Self-funded vs academy sponsorship
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Old 5th June 2012 | 09:01
  #6 (permalink)  
ford cortina
 
Joined: Sep 2007
Posts: 514
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From: earth
It's simple, you cannot borrow money on a property, unless you have equity in it.
For example, if you buy a £100,000.00 flat, put a £7000.00 deposit down and borrow £93,000.00 you will have no equity, or at the very least a small amount.
The only time you can borrow on a property is if you are in equity, this is usually after you have payed quite a lot of your mortgage off, or when property prices have risen.

Oh and for the record, there is no real 'sponsorship' it's just marketing to get you to part with your money.
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