No Money Down - the definitive answers from mortgage broker Lisa Orme ...

In this interview, Vanessa talks to property investor and mortgage broker Lisa Orme about so-callled "No Money Down" deals (using finance). Many novice investors are tempted into getting into property investment believing that there are such mechanisms as 100% financing and "gifted deposits". In her capacity as an experienced mortgage broker, Lisa Orme is ideally placed to dispel some of the myths and confusion surrounding NMD and help people understand the consequences of getting involved in creative financing.

You can contact Lisa via www.keys-mortgages.com or on Twitter @lisaorme .

Lisa is a CEMAP qualified and fully FSA regulated broker.

Further reading and opinion on the subject of NMD deals including links to stories of people who have been imprisoned and fined for mortgage fraud:

http://propertytribes.ning.com/forum/topics/mortgage-fraud-more-popular

http://propertytribes.ning.com/forum/topics/top-ten-reasons-why-you-will

http://propertytribes.ning.com/forum/topics/im-confused-about-ready-made

http://propertytribes.ning.com/forum/topics/bmv-deal-sellers-pros-and

For more property insights visit http://propertytribes.ning.com where you will find 100% property education, networking, and discussion in a friendly and supportive community.

Category:

Education

Tags:

• no money down
• mortgage fraud
• creative financing
• no money down illegal

[jthompson449]

Also: TMW and BM (who I know Rapid use) don't accept applications from property clubs. You can read this in their criteria by searching google: TMW criteria or BM criteria. I quote "Applications to purchase properties sourced via Property Investment Clubs/Companies are not accepted."