Amazing 10K Cash Back Offer......

Just saw this one in Donabate…if you buy, you get 10K of your own money back…Wow!

Sale gimmicks are soooo 2008.

This could be interpreted as attempting to circumvent LTV ratios.

  1. House is worth 90k.
  2. Buy house for 100k
  3. Get 90% mortgage for 90k based on the 100k “price”
  4. Get 10k back from seller

Now you have an 90k mortgage on a 90k house (100%)

That could be seen by the bank as fraudulent.