Unregistered ‘off the plan’ Properties Settling in up to 66 months
ENAYBL Deposit Solutions has the following qualifying requirements for buyers when purchasing unregistered ‘off the plan’ properties settling in up to 66 months.
- Applies to applicants who are purchasing a property off the plan where the title is not yet registered and settlement is more than 6 months away.
- Buyers qualify based simply on the equity in their existing Australian held property.
- No need for income verification or loan serviceability.
- The net equity required in an existing property varies depending on the term of the deposit bond required and can be summarised below:
- 7 to 24 month deposit bond term – 3 x 10% of the purchase price in net equity.
- 25 to 36 month deposit bond term – 4 x 10% of the purchase price in net equity.
- 37 to 66 month deposit bond term – 5 x 10% of the purchase price in net equity.
- Up to 20% of the net equity requirement can be supported by ASX shares including those held in superannuation.
NOTE: The above Qualifying Guidelines are to be used as a guide. Additional requirements may apply depending on individual buyer circumstances.
