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Updated about 5 years ago, 10/10/2019

User Stats

17
Posts
5
Votes
Jasmine May
5
Votes |
17
Posts

If I have 20% down, would banks lend me money for the rest?

Jasmine May
Posted

Sorry if this appears naive. I live in the UK and we are moving to Canada shortly. I'm asking to make sure my assumption is right as this is pretty fundamental to my plans! 

I will not have any credit history in Canada to begin with. I will also not have a job! (I'll be setting up a RE business - cash flow will be my income). If I put 20% down, would banks lend me the rest based on rental potential ALONE or do they need to see some kind of personal income for me? 

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