Search found 13 matches

by Grant Martin
Mon Aug 10, 2015 10:20 am
Forum: Home Loan Forum
Topic: Home Loan Options
Replies: 1
Views: 5086

Re: Home Loan Options

Hi hem2908, Thanks for your enquiry, many lenders do have a strict policy when it comes to the stability of employment history. That being said, with the addition of genuine savings & security guarantor we may be able to get them to consider an exception for your employment if you have new contract ...
by Grant Martin
Mon Jul 13, 2015 4:02 pm
Forum: Home Loan Forum
Topic: centrelink income only
Replies: 3
Views: 7330

Re: centrelink income only

Hi andker333,

I've replied and answered this on your other posts here and here.
by Grant Martin
Mon Jul 13, 2015 3:20 pm
Forum: Home Loan Forum
Topic: Disability pensioner with deposit and co-borrower...
Replies: 1
Views: 5703

Re: Disability pensioner with deposit and co-borrower...

Hi andker333, Thanks for your post, given the figures you speak of I do not think there would be lender able to assist as if you are saying that your bills and living expenses are paid for by others and yet you have no savings, this would not evidence capacity for a lender that you have the ability ...
by Grant Martin
Mon Jul 13, 2015 3:15 pm
Forum: Home Loan Forum
Topic: Tytty
Replies: 0
Views: 23718

Re: Disability pension with large deposit?

Hi andker333, Thanks for the post, at the moment the max loan amount based on the Pension and current interest rates is sitting at about $80-90K at most, so depending on what purchase price you are looking at you would need to have enough to cover the balance of the purchase price plus stamp duty an...
by Grant Martin
Wed Jun 10, 2015 10:57 am
Forum: Home Loan Forum
Topic: Can we get loan approval
Replies: 1
Views: 5675

Re: Can we get loan approval

Hi missiles_r, Thanks for your post, its some good questions you raise. If he has been in his current role for more than 12mths and he has consistency in industry/income level over the past 2yrs then this is certainly something we can work with. The security guarantor will assist with covering most ...
by Grant Martin
Mon Jun 01, 2015 10:07 am
Forum: Home Loan Forum
Topic: centrelink income only
Replies: 3
Views: 7330

Re: centrelink income only

Hi Yusuf, Thanks for your enquiry, there are few lenders that will accept Centrelink payment as the primary income source, these lenders generally look more towards large deposit purchases of standard residential property or low lend refinances but unfortunately do not cater for construction. The lo...
by Grant Martin
Wed May 06, 2015 12:02 pm
Forum: Home Loan Forum
Topic: Guarantor Loans
Replies: 1
Views: 3912

Re: Guarantor Loans

Hi Flombard, Thanks for your enquiry, the most common Guarantor home loan scenario will involve a Parent offering a limited guarantee against the value of their property to help the applicants cover the deposit and avoid having to pay lenders mortgage insurance, since the GFC most lenders have taken...
by Grant Martin
Tue Apr 07, 2015 10:52 am
Forum: Home Loan Forum
Topic: Reverse Mortgage for Rural Properties over 1 Ha
Replies: 1
Views: 4210

Re: Reverse Mortgage for Rural Properties over 1 Ha

Hi Nouvelle, Thanks for the post, the lenders who offer reverse mortgages will usually restrict the security so a standard metro location property as large rural property is considered to have a limited marketability when it comes to a quick sale. These lenders will also restrict the % lend dependin...
by Grant Martin
Thu Feb 12, 2015 11:56 am
Forum: Home Loan Forum
Topic: Quilify for a home loan whilst on centerlink
Replies: 1
Views: 3300

Re: Quilify for a home loan whilst on centerlink

Hi Karine, Yes, there are some lenders that will include Centrelink income when working out how much you can afford to borrow depending on the age if your kids. Tho, there a few lenders that will accept this as the only income so there usually needs to be some job income coming in also, and these le...
by Grant Martin
Tue Jan 27, 2015 4:55 pm
Forum: Home Loan Forum
Topic: Centrelink Payments can be included in income
Replies: 1
Views: 3360

Re: Centrelink Payments can be included in income

Hi Melriz1, Great question, most lenders will allow Family Tax Benefits as income depending on the ages of the dependents but generally 11yrs or under should be OK. Some may also consider Carers Allowance also as a supplementary income depending on the circumstance of the payment and how long it wil...
by Grant Martin
Wed Sep 17, 2014 5:24 pm
Forum: Home Loan Forum
Topic: home loan with DSP, potential Guarantor
Replies: 1
Views: 2602

Re: home loan with DSP, potential Guarantor

Hi Maggie, Thanks for your post - it sounds like you have a good deposit sorted from the property settlement however many major lenders tend to avoid applicants where the sole source of income is government benefits and will not factor in boarder income either. Also, servicing guarantors are no long...
by Grant Martin
Mon Jul 14, 2014 4:58 pm
Forum: Property Investment Forum
Topic: What is difference between advertised interest rate and comp
Replies: 1
Views: 7785

Re: What is difference between advertised interest rate and

Good question Nsingh,

The main purpose of the comparison rate is to give you an average interest rate including fees & charges that apply to the account. For example, a lower advertised rate with ongoing fees will likely be a higher comparison rate than a slightly higher rate with no fees.
by Grant Martin
Mon Jun 30, 2014 2:32 pm
Forum: Home Loan Forum
Topic: 100% Home loan / Rules of guarantor loans
Replies: 1
Views: 3379

Re: 100% Home loan / Rules of guarantor loans

Hi fero_7, Great decision to move forward with your first home purchase now, the sooner you get into the property market and stop paying rent the better. Based on your income this loan amount appears OK however it depends on various other factors like other liabilities? or dependents? I recommend us...