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by Otto Dargan
Fri Jul 26, 2019 7:49 pm
Forum: Home Loan Forum
Topic: What is the process of buying a home for my daughter?
Replies: 5
Views: 311

Re: What is the process of buying a home for my daughter?

Hello Clarissa. Welcome to the forums. Thank you for reaching out to us. Applying for a non-resident mortgage in Australia is quite a tedious process as there are many things you’ll need to take care of like: ⋅ Getting a team of professionals like conveyancer, mortgage brokers and if requi...
by Otto Dargan
Thu Jul 25, 2019 8:26 pm
Forum: Home Loan Forum
Topic: Is there a way I can get a loan even if I don't have genuine savings?
Replies: 5
Views: 455

Re: Is there a way I can get a loan even if I don't have genuine savings?

Not all no genuine savings loans are expensive. Some lenders have the same rates and fees for no genuine savings loan if you're borrowing up to 90% of the property value. If you're borrowing up to 95% of the property value, then you might be charged a higher LMI . As we have almost 40 lenders on our...
by Otto Dargan
Thu Jul 25, 2019 8:03 pm
Forum: Home Loan Forum
Topic: Is there a way I can get a loan even if I don't have genuine savings?
Replies: 5
Views: 455

Re: Is there a way I can get a loan even if I don't have genuine savings?

Yes, it is a possibility to get a 95% loan without genuine savings . Besides having stable employment, there are many other conditions you’d have to fulfil like: ⋅ A clear credit history with no defaults on your credit file. ⋅ The property you are buying is easily marketable, loc...
by Otto Dargan
Thu Jul 25, 2019 7:30 pm
Forum: Home Loan Forum
Topic: Is there a way I can get a loan even if I don't have genuine savings?
Replies: 5
Views: 455

Re: Is there a way I can get a loan even if I don't have genuine savings?

Hello Vincent. Thanks for reaching out to us and welcome to the forums. Banks and lenders tend to look for genuine savings so that they are assured that you’re able to save, make repayments and not default on your home loan repayments. However, some specialist lenders do provide no genuine savings l...
by Otto Dargan
Wed Jul 24, 2019 8:38 pm
Forum: Home Loan Forum
Topic: Can a casual employee get a home loan?
Replies: 5
Views: 359

Re: Can a casual employee get a home loan?

Hi Hannah, Each lender has its own method of calculating the income of a casual employee. Most lenders look into your last two years group certificates and then they use the lower of the two. Unfortunately, this is not a viable calculation for employees who have not been in the same job for a number...
by Otto Dargan
Wed Jul 24, 2019 8:01 pm
Forum: Home Loan Forum
Topic: Can a casual employee get a home loan?
Replies: 5
Views: 359

Re: Can a casual employee get a home loan?

Banks and some lenders have a perception that there are higher chances of casual employees defaulting on their loans. However, there are ways you can increase your chances of getting approval and even increasing your borrowing power like: ⋅ Cancel your unused credit cards and try to reduce...
by Otto Dargan
Wed Jul 24, 2019 7:38 pm
Forum: Home Loan Forum
Topic: Can a casual employee get a home loan?
Replies: 5
Views: 359

Re: Can a casual employee get a home loan?

Hello Hannah. Thank you for reaching out to us and welcome to the forums. Yes, you could get approval for casual employment home loan. Lenders will look into how long you've been in your job, whether you worked in the same industry previously, how regular your hours are, your loan to value ratio (LV...
by Otto Dargan
Tue Jul 23, 2019 8:21 pm
Forum: Home Loan Forum
Topic: Can I get a home loan even with bad credit?
Replies: 5
Views: 344

Re: Can I get a home loan even with bad credit?

Lenders will look into your paid and unpaid default amounts to find out how much you can borrow: ⋅ If your default amount is less than $500, then you can borrow up to 95% of property value . Please note that lenders will use credit scoring to assess loans at 95% LVR. ⋅ If your de...
by Otto Dargan
Tue Jul 23, 2019 7:56 pm
Forum: Home Loan Forum
Topic: Can I get a home loan even with bad credit?
Replies: 5
Views: 344

Re: Can I get a home loan even with bad credit?

Yes, you are eligible for the First Home Owners Grant (FHOG) even with a bad credit score. This grant is for people buying their first home. You must meet the following criteria. ⋅ The applicant is a natural person i.e. is not a company or trust. ⋅ At least one applicant is a Per...
by Otto Dargan
Tue Jul 23, 2019 7:41 pm
Forum: Home Loan Forum
Topic: Can I get a home loan even with bad credit?
Replies: 5
Views: 344

Re: Can I get a home loan even with bad credit?

Hello Becky, Welcome to the forums. Yes, you can qualify for a home loan even with bad credit . Some of our specialist lenders could get loan approvals for you even when you have some defaults on your credit history. The lenders will look into your credit file and Equifax score to calculate your cre...
by Otto Dargan
Tue Jul 23, 2019 12:37 pm
Forum: Home Loan Forum
Topic: Mortgage on a Permanent Resident Visa
Replies: 5
Views: 411

Re: Mortgage on a Permanent Resident Visa

That’s great to hear Buster. The following documents are required to apply for an FHOG . A Contract of Sale Identification and /or additional supporting documents that must all be certified. A contract of sale is required by all states and territories with each application form. Depending on the sta...
by Otto Dargan
Mon Jul 22, 2019 7:55 pm
Forum: Home Loan Forum
Topic: How much can I borrow as an expat borrowing in SGD?
Replies: 5
Views: 356

Re: How much can I borrow as an expat borrowing in SGD?

The costs involved when completing a purchase of a property are: ⋅ Stamp duty: The stamp duty can be as high as 6% of the property value. However, this does vary according to states and territories. You can even use our stamp duty calculator to find out if you are eligible for a grant or r...
by Otto Dargan
Mon Jul 22, 2019 7:24 pm
Forum: Home Loan Forum
Topic: How much can I borrow as an expat borrowing in SGD?
Replies: 5
Views: 356

Re: How much can I borrow as an expat borrowing in SGD?

Getting an investment property loan requires you to show that you have a high income, and the chances of getting your investment loan approved are high if you meet the following criteria: ⋅ You will need to show a sufficient deposit of at least 20% in most cases. ⋅ Lenders are fa...
by Otto Dargan
Mon Jul 22, 2019 5:13 pm
Forum: Home Loan Forum
Topic: How much can I borrow as an expat borrowing in SGD?
Replies: 5
Views: 356

Re: How much can I borrow as an expat borrowing in SGD?

Hello Leon, Welcome to the forums and thank you for reaching out to us. We’re glad to let you know that Australians living outside of the country can borrow up to 90% of the property value. Some of our lenders use Singaporean tax rates when assessing your taxable income, which could improve your bor...
by Otto Dargan
Fri Jul 19, 2019 8:13 pm
Forum: Home Loan Forum
Topic: Mortgage on a Permanent Resident Visa
Replies: 5
Views: 411

Re: Mortgage on a Permanent Resident Visa

Hi Buster, Glad to know we could be of help. First Home Owners Grant (FHOG) was introduced in July 2000 as a one-off grant that is payable to homeowners. It is a scheme funded by the state government to incentivise Australians to make their first home purchase. Besides being a permanent resident liv...

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