We found it particularly difficult out in the market place Shadow.
Reality................................Credit Response
Undervalued Property............Not Interested
Great Cashflow....................No it's not
10% yield, 7% interest..........We used 9% in our calcs, too slim
3 years left to go on Lease....Lease is too short
We'd like 70% LVR................No
We'd like 65% LVR................Not saying we would, but if we did it would be 50%
We'd like 60% LVR................Full application and DNA swab, then NO.
We'd like 50% LVR................You can't afford it, and we want to see more hurt money
We'd like 30% LVR................Maybe, but income is looking sick
We'd like 10% LVR................Don't waste our time, pay cash
It has a Govt Tenant............So what - go away.
Fed Govt Tenant, big rent.....Go away and get a job, you're too rent reliant
Shopping around at the different Banks - pffft - I'm sure they lunch together every Friday to discuss what went on last week and what they plan to do together next week.
Best of bad bunch at the moment for us was NAB, but I reckon we just found a normal credit person in and amongst all of the squirrels. Their "policy brick walls", which wax and wane with the wind when it suits them, drive me nuts.
Reality................................Credit Response
Undervalued Property............Not Interested
Great Cashflow....................No it's not
10% yield, 7% interest..........We used 9% in our calcs, too slim
3 years left to go on Lease....Lease is too short
We'd like 70% LVR................No
We'd like 65% LVR................Not saying we would, but if we did it would be 50%
We'd like 60% LVR................Full application and DNA swab, then NO.
We'd like 50% LVR................You can't afford it, and we want to see more hurt money
We'd like 30% LVR................Maybe, but income is looking sick
We'd like 10% LVR................Don't waste our time, pay cash
It has a Govt Tenant............So what - go away.
Fed Govt Tenant, big rent.....Go away and get a job, you're too rent reliant
Shopping around at the different Banks - pffft - I'm sure they lunch together every Friday to discuss what went on last week and what they plan to do together next week.
Best of bad bunch at the moment for us was NAB, but I reckon we just found a normal credit person in and amongst all of the squirrels. Their "policy brick walls", which wax and wane with the wind when it suits them, drive me nuts.