Browse Forums Home Finance 1 May 11, 2009 5:38 pm I want to avoid having to take out Mortgage Insurance. I currently have 32K in the Bank and 47K in Shares so i technically have 20% for a loan in the 400K vacinity but would like to know if anyone can advise of a bank ect ect that will take the shares as equity. I really would prefer not to have to sell them. Many Thanks Russell Re: 20% Required for Home Loan 2May 11, 2009 5:43 pm Hi Russell, my husband and I have approx 10k in shares, and CBA (Colonial) didn't take that into account although our broker noted it to them. It wasn't factored in as part of our deposit. Re: 20% Required for Home Loan 3May 11, 2009 7:24 pm Some banks will consider as part of your deposit for the application process however you will need to sell the shares prior to settlement in order to cover the difference between the purchase price + fees & the loan amount. Re: 20% Required for Home Loan 4May 12, 2009 12:35 am RussellP I want to avoid having to take out Mortgage Insurance. I currently have 32K in the Bank and 47K in Shares so i technically have 20% for a loan in the 400K vacinity but would like to know if anyone can advise of a bank ect ect that will take the shares as equity. I really would prefer not to have to sell them. Many Thanks Russell Sorry Russell, as share values are volatile they are not accepted as security by lenders. The biggest challenge will be if you take out a loan and then run out of money - you'll have an incomplete security and lenders do not like this so you can get stuck.… 2 19096 Hi, you've probably already resolved this, however, Commbank will probably pay the funds to you after you send evidence the work is done regardless the change in the quotes. 1 35321 I know foam has been around since the 90's and CSR started manufacturing Hebel in 1989, so it's definitely possible 5 5437 |