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I was not intending to scam the grant I was planning to still live their but purchase another property and wanted to know if I would be able to service a additonal loan on top of the mortage with this new property

Thats part of the question. Since I need to live in the property for 6 months for the fhog I wanted to purchase another property in qld hopefully that would be positive or neutral geared within that 6 month time frame. So I will put the new house as ppor but I also wanted to apply for a...

Yes this is true I am not too sure if my question was worded correctly. As I will be living in the property for 6 months and the bank will have it / and it will my ppor I wanted to know would I be able to purchase another property or would I have to wait until its rented out?

Actually never thought of that I would have to ask my broker. My plan is to live in the property for 6 months save on stamp duty and get the 15k and then rent it out. Since the bank will look at it as my ppor I am not sure why they asked for that letter now as well. Couldnt of said it better...

I had to supply a letter to CBA signed by my mum advising that I do not pay rent and my broker is pretty adament that I wouldnt be able borrow any more until that property is rented out.

I am lucky enough not to be paying rent/board at home so that shouldnt be a issue. I will hassle my broker again and see what he saids

I have asked the broker but they said they I would need to rent out that property first before I will be able borrow for my next purchase

Thats a good idea it was something I was lenaing towards. In your opinion based on my earning and borrowings do you think I would be able to service another property?

I just got formal aproval last week for both the land and construction. I havent really thought to much about the lending environment changing. My job and finances are secure been at the same job for 3 years now and from my knowledge quite secure. I dont have any server financial predicaments...

Thanks I will add these to the original post.

thanks for your response . What other information would be needed?

Hi Everyone , I am currently in the process of purchasing my first investment property. I decided to build in the south western Sydney and put a down payment on a block of land in September last year. I have been lucky enough to see quite a bit of growth since September and my block of land...