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Old 10.09.2019, 20:23
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Re: Property purchase rules 10% cash and 10% pension...?

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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
I can't find a source that agrees with you, to my knowledge it always has been like: 10% cash minimum which cannot come from P2, but there is no problem using money out of P3 for this, and 10% (or more if the bank demands such, but 20% total seems to be the minimum mostly.)) can come from whatever and there is no restriction of 10% max from P2

Last edited by EdwinNL; 10.09.2019 at 21:12.
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