Search results

Thanks Colin, DT. I have slept this evening so couldn't sleep now. So with phone and a beer :D

As all of you are suggesting to borrow as much as needed when we can, I have one more question. Say we enter into a fixed price contract to build a house and the bank approves it. After the approval if the serviceability is lost (before or while the house is being built), can the bank stop...

Yep DT. Probably I should just hold on to what we have and study to change jobs or something. Thinking of joining Tafe to study diploma of building or something. You are the inspiration :D

Thanks Colin, Jon, Richard, tobe, Shahin, Rolf and Aaron. The mentorship you guys provide is priceless!

No. We are just considering a few future scenarios :p When we have kids, if we are on one salary, if we want to renovate for profit, if we hit serviceability ceiling etc etc

So it means more paperwork! Thanks for the info Aaron and PT.

Low doc loans are used by self employed to borrow 60% of property value. Can these loans be used to buy when you have hit serviceability ceiling? Say a couple go from two incomes to one, (thus the income is not sufficient to cover the current loans in the point of view of the bank) can they...