Hi, we are looking at investing in a property. The opportunity is for us to buy a property (valued at mid $600,000). The owner will finance us, with no deposit, to buy, at $550,000 at interest only for 2/3 years. Then we can refinance with the bank to continue. Our situation is that we will not be considered for bank finance until our credit rating has dissolved. So this is why we are considering this. Who is the best person to talk to for advise on this?

Hi Narelle,
The best person to talk to is a really, really good solicitor. You must make sure you protect your interest in the property and make sure that the contract stands up to scrutiny of its legal conditions.
The second best person would be an experienced mortgage broker who may be able to show you a solution to complete the sale in your own right, now.
Best of luck
Scott

Find a smart mortgage broker and a decent accountant who will work together to get your issues sorted. Your problem is NOT getting finance from a BANK, but finding the right lender to deal with. This is where a GOOD mortgage broker comes in, becuase if he is worth his salt, he will know that in some cases the finance needs to go through a number of stages before a top4 bank will lend to people with some credit history issues.
give me a ring Narelle, I know just the guy for you.

regards

Brendan