Cash question for ROLF

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From: E L


Hi Rolf
Just wondering what the banks would think of me if I was in the following situation:
- had an income of 50k
- had a good wod of cash in the bank
- had potential property investments with 10% rental yield.

Would the banks feel comfortable lending a substantial amount of money, based on the ie. 300k in my bank account?

Thanks
EL
 
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Reply: 1
From: Rolf Latham


Hi EL

They would more than likely lend you some money.

Substantial to one person is 50 k to another its 5 mill.

Sorry about the lack of "specifity", but with those 3 parameters only it is diffult to put any real number on things.

I have clients with 1.5 mill loans with PAYE incomes on sort of 50 k + lots a cashflow property.

Ta

Rolf
 
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From: E L


Thanks Rolf. Sorry about the lack of details it was just a general question. I'm hoping we'll be in a similar position in a little while!! I'm trying to learn as much as possible about the mentality of bankers!!

Cheers
EL
 
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