Just wondering if banks would be open to negotiations and if this scenario would at all be possible? I'm using fictitious figures to show the concept :
On my current salary, I can buy a property for R500,000.00 - but I'd like to buy a property R1 million, which I cannot afford. However, I'll be getting a guaranteed R2 million in 2015.
Would the bank allow me to buy the R1 million property now with the bond payments on te R500,000.00 I can afford - and a guarantee (futures contract etc) to give the other R500,000.00 in 2015?
On my current salary, I can buy a property for R500,000.00 - but I'd like to buy a property R1 million, which I cannot afford. However, I'll be getting a guaranteed R2 million in 2015.
Would the bank allow me to buy the R1 million property now with the bond payments on te R500,000.00 I can afford - and a guarantee (futures contract etc) to give the other R500,000.00 in 2015?
