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by Otto Dargan
Mon Jun 15, 2009 8:53 pm
Forum: Home Loan Forum
Topic: How long do I have to be employed to get a home loan?
Replies: 1
Views: 8534

Re: How long do I have to be employed to get a home loan?

Hi Ruby,

The minimum required is that you have been 1 day in your job. There is only one or two lenders that can help in this situation.

The majority of lenders require you to be off probation or a minimum of 6 months in your current job before approving your loan.
by Otto Dargan
Mon Jun 15, 2009 8:51 pm
Forum: Home Loan Forum
Topic: bad credit history loan
Replies: 2
Views: 9053

Re: bad credit history loan

Lenders are very wary about people credit history at the moment. I would only recommend that you apply for a loan if you have a 20% deposit if you have been bankrupt recently. Some people may be able to get a home loan if they have a 10% deposit, all their defaults have been paid and they have stabl...
by Otto Dargan
Mon Jun 15, 2009 8:47 pm
Forum: Home Loan Forum
Topic: home loan for contract based workers?
Replies: 1
Views: 7928

Re: home loan for contract based workers?

Yes it is possible to borrow up to 90% of the property value if you are a contractor and in some cases we are able to obtain a 95% loan however this is rare. You will be required to have 5% in genuine savings if you are borrowing over 85% of the property value. Our main concern is the stability of y...
by Otto Dargan
Mon Jun 15, 2009 8:42 pm
Forum: Home Loan Forum
Topic: Valuations coming in short
Replies: 1
Views: 9164

Re: Valuations coming in short

When a valuation comes in low you have several choices: * Challenge the valuation using sales evidence (very rarely works). * Coming up with the shortfall with help from your family, friends or a personal loan. * Submitting the loan to another lender in the hope they will have a higher valuation. * ...

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