From: Anonymous

Hi there!

I would like to buy a property however, banks would like to see statements of mine to see if I have savings or not within the 6 mths. period. I do have savings but its not within that 6 mth. period. I have some gifted funds and shares. I am a professional that earns good income but banks are just a hassle. Is there any lender that will be able to give me a mortgage loan without all this hype? I know I can repay the loan anytime but I believe normal banks have strict rules.
Any advice will be much appreciated.

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Reply: 1
From: Rolf Latham


There are a number of lenders who have relatively flexible approaches to lending. What you are finding is that the Lenders Mortgage Insurer is the one that wanst the 6 months savings history - not the lender.

Westpac, RAMS, Homeside and others that use GE Mortgage Insurance may look at this IF you are eligible for the FHOG.

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Reply: 2
From: Jeremy Laws

You could always have sold a boat or a car in order to buy property. Works for me.
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Reply: 3
From: Emil Ajepoor

Hi Rolf,

send your request to:

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Reply: 3.1
From: Robert Forward

Mmm, are these posts by the starting to become SPAM???

Just may be....

Emil, how about a bit of substance in your posts please. Good posts are like a book. They have a beginning a middle and an ending. Some even have prologues and epilogues.

Cause you have to ask yourself, What in your post makes people want to email you??

There isn't any substance that I can see. But I'm not wearing my glasses at the moment.

Looking forward to a good reply.


The Sydney "Freestylers" Group Leader.
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Reply: 3.2.1
From: Glenn S

I Agree with Robert.

They are getting annoying!

If you are so bursting with information Emil, you could use this forum to share with others. After all thats what this forum is all about.

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Reply: 4
From: PT Bear

I had the same problem the first time I applied for a loan. My entire deposit was saved within 4 months. All my previous savings went towards my wedding & honeymoon.

I got around this problem by showing them records of my share portfolio. Over an extended period, I'd been letting this earn money, but I hadn't taken anything out. This was taken as proof of savings.

The good news is, once you've got the first property, making your repayments on time is often seen as proof of savings.

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Reply: 5
From: Victor Mann

shares can be used to show genuine savings

good hunting

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