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: 6356

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 in place and can evidence a history of employment in the same industry with a consistent level of income.

If you like feel free to touch base and we can have a chat about your options and how we can move forward and get a Pre-Approval for you. Cheers :)
by Grant Martin
Mon Jul 13, 2015 4:02 pm
Forum: Home Loan Forum
Topic: centrelink income only
Replies: 3
Views: 9174

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: 7008

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 to make loan repayments at the level required for this amount of debt?

Feel free to give me a call on the 1300 889 743 if you would like to chat about your scenario further.
by Grant Martin
Mon Jul 13, 2015 3:15 pm
Forum: Home Loan Forum
Topic: Tytty
Replies: 0
Views: 51375

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 and costs.
by Grant Martin
Wed Jun 10, 2015 10:57 am
Forum: Home Loan Forum
Topic: Can we get loan approval
Replies: 1
Views: 6963

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 of the purchase costs so you can use the savings you have to try and reduce that level of personal debt.

Different lenders have different restrictions when it comes to how much you can borrow so I would recommending emailing me and I can send you a copy of our short app form so I can complete an assessment on your scenario (before you make any changes to the structure) and come back to you with recommendations so we can get an approval at the level you want to get you guys into the property market.

grant@homeloanexperts.com.au

Cheers :)
by Grant Martin
Mon Jun 01, 2015 10:07 am
Forum: Home Loan Forum
Topic: centrelink income only
Replies: 3
Views: 9174

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 loan amounts are usually limited fairly low due to servicing restrictions, as the banks view is that these funds are a government benefit to be used to cover your basic living expenses.
by Grant Martin
Wed May 06, 2015 12:02 pm
Forum: Home Loan Forum
Topic: Guarantor Loans
Replies: 1
Views: 5075

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 a stricter approach to allowing servicing guarantors.

If you would like some more info or help on potential loan structure feel free to give me a call on the # below. Cheers,
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: 6152

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 depending on your proximity to/from standard retirement age. So depending on the full scope of your situation it may be something would could assist with on a case by case basis.

If you would like to provide some further info and we could refer your scenario exception to a lender prior to actually applying for the loan?
Feel free to complete an online enquiry on our website and comment that you have been speaking to me on the Forum and it will get allocated to me for further review.
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: 4478

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 lenders usually require a larger deposit to get you started (about 20-25% + purchase costs) but there are limitations when it comes to land & construction.

It sounds like the property is a Leasehold property? This is common in ACT and can be accepted by some lenders depending on the terms of the lease.
I would recommend giving our office a call and speaking to an experienced broker who can review your specific scenario and give recommendations once they see the full picture of what you are looking to achieve :D
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: 4510

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 will be ongoing for. I recommend speaking to a Home Loan Expert who can assess your scenario and guide you to which will be the best lender for your scenario.

Cheers,
by Grant Martin
Wed Sep 17, 2014 5:24 pm
Forum: Home Loan Forum
Topic: home loan with DSP, potential Guarantor
Replies: 1
Views: 3465

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 longer available since the governments tightening of responsible lending regulations.

We do deal with a few specialist lenders that are a bit more flexible and can consider this income depending on the age of the dependents for the family tax benefits but it would probably involve a bit more of an in depth scenario review to run through some figures for you.

If you like please give me a call on the # below to discuss your scenario further :D
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: 10554

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: 4578

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 using our How Much Can I Borrow Calculator.

As for the guarantor loan, it is only a security guarantee where the lender will place a limited $ guarantee against the value of the guarantors property to boost the value of the security held for your loan. If you make all your loan repayments on time then there will be no responsibility on your mother in law at all.

Thanks for your enquiry, I hope this helps :)