Search found 3 matches

by lost_kombi
Tue Apr 20, 2010 3:25 pm
Forum: Home Loan Forum
Topic: lots of questions....
Replies: 3
Views: 9286

Re: lots of questions....

Thanks for the reply.
I have been employed by the housekeeping department of the hotel I work for for about 2 1/4 years, I think. But I no longer do exactly the same role. I used to be a Housekeeper (as well as waitressing for restaurants owned by the same company) but now I am considered a "Houseperson", which has different duties/hours however if they are particularly busy I still wind up cleaning rooms. So to me it is the same job, but technically it does have a different title. I've been Houseperson for probably just on 6 months.

We are currently in Tasmania, but we want to buy somewhere in the Northern Rivers district of NSW. How would a potential lender view that? Naturally we wouldn't actually move until we had employment sorted out where we are going that would cover repayments etc, but do 'they' see iy that way?
by lost_kombi
Tue Apr 20, 2010 1:55 pm
Forum: Home Loan Forum
Topic: lots of questions....
Replies: 3
Views: 9286

lots of questions....

Hi. A while ago I posted reguarding financing a property on Company Title. We have since managed to save around a $5,000 deposit which is not the 20-odd percent required, I know. We still have jobs with the same company as we did back then, for instance my partner still works as maitenance on the local tourist railway, fulltime. However, instead of being track maintenance he is now station maintenance, which means almost no overtime. We have recently been earning, on average, $2,500+ after tax per fortnight. It fluctuates because I am casual.
I was wondering if it is possible to have a guarrantor on a loan for company title. Also could I somehow use my precious restored Kombi, replacement vaule around $10,000+ as security?
We have no debt at the moment besides a credit card with a $10,000 limit (they offered me $40,000!) The balance is almost always zero and if I do use it, it gets paid off at the end of the month. I only got it because someone said I needed a credit rating.
Thanks again for any info.
by lost_kombi
Wed Jan 06, 2010 3:09 pm
Forum: Home Loan Forum
Topic: qusetions about loans for multiple occupany properties
Replies: 1
Views: 9378

qusetions about loans for multiple occupany properties

Hi. We currently rent in Tasmania but have recently decided we would like to buy. We have been thinking about moving to the north coast of NSW, particulary to a Multiple Occupancy-type property of a few acres which seems to be a relatively cheap way to aquire the use of some land to gain a level of self sufficiency surrounded by like-minded people. However, most that I've seen just looking on the internet are Company Title or Community Title, it appears that as you don't actually own the land, just the right to use it (if I understand it correctly!?) and getting a loan is difficult. We are just begining to save, but would like to know, besides the more the better (!), how much we should be aiming for minimum to make getting approval for a loan easier? Is it even possible to get a loan for such a property? Your website mentions loans are availiable for company title Flats, is it the same for company title Land/houses? Neither of us have ever owned propperty before, so can the 1st home owner's grant go towards it?
We would buy somewhere with a livable house/shack already on it with the intention of building our dream home at a later date. Is it even possible to borrow to build, as wouldn't thet mean borrowing more than the property in worth? I must sound completely ignorant but am just starting out and would be grateful for any info.
Thanks.