Casual employment

[tvadera]

Hi,

Scenario for a friend :

Appl 1: full time income of 59k plus super
Appl 2: spouse working casually , current job only 15days old and prev job was for 5 months, even prev role was casual

First home buyers , seeking to borrow 350k for prop purchase of 420k

Can spouse income be considered for servicing ? She being casual

Dep savings: 45k appl 1 name, 9k appl2 in spouse name
Credit card limit 4k and car repayment of 315 per month

Or best to apply loan only in appl1 name?

Thanks

 

[Shahin_Afarin]

Short answer yes. Your friend has a number of options. Worst case there are lenders that accept one day in employment like Citi.

Regards

Shahin

 

[Aaron_C]

Yes it is possible - depending on LVR.

 

[tvadera]

Thanks guys,

LVR 90%

Preferred options: ANZ and NAB, would they allow it?

Some savings are a gift of lumpsum money from overseas parents

 

[Shahin_Afarin]

Not going to happen at that LVR. They may be able to service using just one of their incomes.

You will have an issue with ANZ for the deposit as well. Not so much with NAB but they do score harshly.

Not sure what the attachment is to those lenders but neither of those lenders are particularly good for that scenario.

Regards

Shahin

 

[Aaron_C]

Thanks guys,

LVR 90%

Preferred options: ANZ and NAB, would they allow it?

Some savings are a gift of lumpsum money from overseas parents

Hmm non genuine savings at 90% LVR.....not ANZ.

 

[Rolf Latham]

Possible. But do u want it?

Do YOU need wifies income to make this work

Ta

Rolf

 

[K_Raheja]

Thanks guys,

LVR 90%

Preferred options: ANZ and NAB, would they allow it?

Some savings are a gift of lumpsum money from overseas parents

amazing ! you know so much of your friends financials

 

[tvadera]

amazing ! you know so much of your friends financials

Yep I do, I have some properties in my portfolio so lot of my friends approach me with regards to getting into the property game..

 

[tvadera]

Possible. But do u want it?

Do YOU need wifies income to make this work

Ta

Rolf

Have pm you Rolf