For sale: Australian houses – no deposit required

Chinese conglomerate PingAn is enabling punters to purchase investment properties without a deposit. Would you like to buy an Australian investment property without needing a deposit? In partnership with property marketing company Austpac, Chinese financial conglomerate PingAn is enabling punters to do exactly that. Unfortunately for Australians, the offer is only available to Chinese customers of PingAn’s banking arm, which will lend the 10% deposit required to purchase off-the-plan apartments. Upon settlement, it will then lend an additional 20% for the down payment while the rest of the purchase price is funded via a loan from an Aussie bank. That’s right, at least some Aussie investment properties are being purchased with loan-to-value ratios of 100%, making somewhat of a mockery of recent attempts by APRA and the big banks to try to cool the residential property market. Read full article here: (VIEW LINK)