Purchase

Purchase

When you purchase a property, it means that you are acquiring ownership of that property in exchange for some form of consideration, usually money.

The term "purchase" in the context of buying a property refers to the legal transaction through which ownership of the property is transferred from the seller to the buyer.

If you are applying for a home loan, it can pay to have a good understanding of the specific things lenders are looking for, such as rental income, running costs and debt to income ratio.

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