Applying for a second bond

[kanzen]

I'm looking to apply for a second bond alongside my existing one. Has anyone experienced a bank willing to give 100% bonds or will they indefinitely require a 10% deposit?

I can easily afford both bonds, but would like to know if they require the deposit regardless.

 

[IziWhatNow]

Do you mean to buy a second property? Or to refinance your current property?

If for second property, it think the biggest factor is your affordability. Generally a bond cannot cost more than 30% of your monthly income. I presume, that similarly, two bonds cannot cost combined more than 30%.

 

[kanzen]

Do you mean to buy a second property? Or to refinance your current property?

If for second property, it think the biggest factor is your affordability. Generally a bond cannot cost more than 30% of your monthly income. I presume, that similarly, two bonds cannot cost combined more than 30%.

Yes, it's a second property which falls well within my affordability.

I'll be renting out the primary residence to a family member (with a rental agreement in place) and will count the income as 70% as the actual income.

Edit: I can afford both bonds even without a rental agreement in place.

 

[stricken]

You'll be hard pressed to get a second 100% bond in this market. But money is liquid. You can for example take equity from your current property to finance the deposit on the second. It just shows you are in on the risk.

 

[kanzen]

You'll be hard pressed to get a second 100% bond in this market. But money is liquid. You can for example take equity from your current property to finance the deposit on the second. It just shows you are in on the risk.

There's around 100k more available in terms of property value vs outstanding bond. I really don't want to touch the first bond, which means anything related to the second bond is based on my salary percentage.

 

[IziWhatNow]

But if you can afford a second bond so easily, I'll suggest you rather save up at least a 10% deposit but preferably 20%