I own a leasehold unit on a resort and would like to buy another one as an investment. The banks are a no go so wondering if anyone knows a lender who will look at this?
I would suggest an alternative - get a line of credit against the ppor (draw down on your equity). Bank will be none tge wiser, purpose of the borrowings will be for investment (provided you don't contaminate the funds with non-deductible purchases). I'm not qualified to give financial advice.
Sorry, I don't understand. Would this be an unsecured loan? and the purchase would be the property so how would that work?
If you have a PPOR (or other torrens titled property - not leasehold), take out a second mortgage on that property.
