Agree with Corey - IO on a PPOR is likely to have a negative impact on future borrowing capacity with most lenders under the current lending...
I do - with possibly the exception of Kingston.
What was the purpose of the cashout? How much was the cashout portion?
Not for an equity release though - that will be capped at 90% + LMI
Nah unfortunately not.
They will only take a portion of the rent into account - usually 80% of it.
They may add a loading to your existing...
Good advice - this dude is in the know when it comes to the area.
Yep - inner North seems to be going nuts.
Just had a look on allhomes - one property in Downer was listed for $620k+ sold for $760k.
In some areas - and for certain properties, it's picked up heaps.
My suburb is going crazy :-)
The demand for houses in established areas is...
Owner occ or IP?
Doesn't sound like a good investment to me.
I'd search for a detached house in the surrounding burbs instead. You may need...
A kid at school being asked to pick up some paper from the playground is a bit different to a person professionally cleaning for a living.
CBA are ok....but changes to their servicing calc could happen soon.
Sounds a bit precious to me - especially if it's just a bit of paper in the school yard.
If servicing permits and you've got 10% equity then WBC is generally a good option at this LVR.....but the deal will be scrutinised hard. They'll...
Borrowing power is determine by your income minus ongoing liabilities/expenses. LVR doesn't come into play (well technically it can for certain...
Banks look at both.
Whilst they won't take into account 100% of your rental income - they'll generally take 80% of it.
The biggest factor...
Nah don't do that - yelling never helps.
Which bank is it?
Agree with Shahin - a contract signed by you should suffice. Most lenders will approve the loan on that basis - and expect the vendor...
If servicing is strong - and LVR is less than 80% then refinancing that small loan over shouldn't have much of an impact other than getting you a...
I hope Nab's changes stick and they don't implement further servicing changes. The 28% loading isn't too bad (relatively speaking) - the extra...
It's the no income obstacle that's getting in the way :-( Banks won't lend if servicing can't be proven.
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