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  1. Corey Batt

    Calculating changes to your borrowing power

    Some lenders won't require any nominal board figure, whilst others may factor in $540-$700 a month. Jamie's hit the nail on the head, a letter from parents say the applicant lives at home without being charged board or rent usually fixes this up. If servicing is THAT tight however, it's just...
  2. Corey Batt

    Calculating changes to your borrowing power

    99.9999999999999999999999999999999999999999% of brokers would write their own loans, no need for them to go elsewhere for the most part. Especially when they're getting paid to write their own business. Peter knocks the nail on the head with the latter argument, they don't know what they don't...
  3. Corey Batt

    Calculating changes to your borrowing power

    It's not about 'adding' to serviceability, but reduce the rate of eroding maximum borrowing capacity. Combine this with a carefully structured finance setup and you can build a multi mil portfolio with ease.
  4. Corey Batt

    Calculating changes to your borrowing power

    As Jamie has touched on, lenders assessment calculators require a property to be heavily CF+ to provide a positive impact on your servicing position, however growing a CF+ portfolio and leveraging the policies of multiple lenders will allow you to still increase your MAXIMUM borrowing potential...
  5. Corey Batt

    Calculating changes to your borrowing power

    There's also a difference between paying down non deductible debt vs investment debt in calculations, so paying down 100k on your PPOR may find you with well in excess 100k extra serviceability for investment purposes.
  6. Corey Batt

    Calculating changes to your borrowing power

    <18 are counted as child dependents, around $300-400 per month depending on the lender, there isn't a discrimination on age. In saying that, under certain ages FTB/child support and the like can be used in servicing, which can play a strong role in calculations of tight applications.
  7. Corey Batt

    Calculating changes to your borrowing power

    Secret broker black magic words. OFI = other financial institution AMP = https://www.amp.com.au/
  8. Corey Batt

    Calculating changes to your borrowing power

    Capital growth only increases your deposits available, not your serviceability which is what Redom's thread is all about. It's possible to increase your servicing if yields are above 6.25% and interest rates sub 5%, if you make using of OFI at actual repayments. Add in other options like AMP...
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