finance from N.A.B 4 unit under 50sq.metres

[jsoe]

I financed my 28spm living area + balcony + secured car space studio unit in Parramatta last April year through NAB.
I went with St George first because they were known to be the most flexible at that time, but got rejected given the small size. In the last minute, I went through L J Hooker Finance broker who's helping finances with a lot of studios in that building. He's got good contacts at NAB. Got LVR 95%. I was paying monthly rent of about the same amount so NAB didn't have a problem at that time with my serviceability. They might have changed rules now again. Or it has to do with how much % they're already exposed to in a particular building, etc. PM me if you want that broker guy's details.
Goodluck finding the bank. Keep us posted.

 

[Bigtone]

Well of course

Houses dont need any maintenance at all...............Now back to more useful lender interpretations of responsible lending.

Miss, what form of contraception do you use and might you have any spousal or parental support in the form of finance ?

Now which version of foxtel is it that you DONT have so I can add the right one to the outgoings.

And what was that about being 55.........hmmmmmmmmmmmmm, 300 000 mortgage paid back over 10 years effective working life, sorry Mr, please apply for your housing commission rental assistance now so u might have access in 10 years time

Sorry bout the derail and the rant.

Hopefully someone will make some sense of the loosely worded portions of the legislation that provide little real guidance, but wield a bog stick.

ta
rolf

ta
rolf

nice rant, best result would be to burn it completely and forget it was ever written and throw positive credit reporting into the same fire.

industry figures show 50-60% of applications to lenders contain lies to make them service, figures show .8% of loans in arrears.

what happens when positive credit reporting comes in in 18 months and people can't lie anymore? no lending available where the BORROWER can take responsibility for his actions ' yep i want the money, yep i know the conditions, if i stuff up its my fault!

does that mean 50-60% drop in lending rates? that kills the property market and basically the economy as well.

didn't we have the best system in the world hence why we survived the GFC in the first place?