Our recent explorations in the property market required a chat with our FA. Since he knows our current financial situation, he could point out to us our one big dealbreaker: for the condo penthouse we're looking at, there's no way any bank will loan us that kind of cash to pay for it.
Looking at us, because we haven't finished paying off our current property, the bank will only loan us 40%, tops. If the loan went in May's name, legally the bank can only loan her no more than 35% of her monthly income.
Either way, to make up the difference between the asking price and what the bank is prepared to finance, we'll have to go find a friendly neighbourhood ah-long who would only be too happy to bridge the gap for us, and throw in a free exterior paint job every month as his kind are wont to do.
Thankfully, we kept cool and didn't get pressured to sign anything last night. Otherwise we'll have to get bitten by a vampire in order to live long enough to finish paying what we would be owing to pretty much everyone. Even if we work nights.
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