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Old 10.09.2019, 20:10
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Re: Property purchase rules 10% cash and 10% pension...?

Quote:
All true, but I am referring to the 10% cash on a mortgage.
It's not that you have to put down 10% cash, but rather that you can use the 2p for max 10%, so cash would be 10% only if you need to put down 10% of the purchase price, however the bank does need to require that you put down 20% of the purchase price.

Thus, if they decide that you only need to put down 15%, only 5% needs to be cash.

Tom
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