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From: Anonymous
I am applying for my next lot of finance
with a new provider and would like to maximise my borrowing capacity.
I am borrowing at a max of 80% LVR, with
no cross borrowings.
I have an equity loan on my own home
with another financier that has been in place many years and does not show up on my credit check file.
Questions :
1-If this equity loan does not show on my CRA, then why do I need to declare it on my new loan applications - which will decrease my borrowing capacity ?
2-Is there some way, the new financier can find out about the equity loan another way?
Combined Bank data base etc ?
Regards
Kent
I am applying for my next lot of finance
with a new provider and would like to maximise my borrowing capacity.
I am borrowing at a max of 80% LVR, with
no cross borrowings.
I have an equity loan on my own home
with another financier that has been in place many years and does not show up on my credit check file.
Questions :
1-If this equity loan does not show on my CRA, then why do I need to declare it on my new loan applications - which will decrease my borrowing capacity ?
2-Is there some way, the new financier can find out about the equity loan another way?
Combined Bank data base etc ?
Regards
Kent
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