No doubt about all of your comments, can't wait to see a contract.
How does the lender secure their own borrowing? If property devalued by say 20% is their lender going to do a margin call on them, forcing the sale of your house? I bet wizard will be the first beneficiary of funds in that case!!
The way I understand it is you can renovate at your expense and lender will share the capital gain!
Bet they don't share rates bill!!!
Still, it will interest a lot of buyers I think.
Say you've got a $500k home with $100k mortgage, you could theoretically buy a $1m home (50% equity)with the same $100k mortgage and enjoy the spoils of improved living accommodation and perhaps a better capital gain % overall.
