Howmany payslips?

YAY!

I'm back at work after nearly 2 yrs off for maternity leave :)

Wanting to buy another 1br asap.

How many months payslips will the bank require before we can apply for another loan?

Thanks :)
 
Are you on a probationary period with your new job? If so most lenders will want you off probation. There are exceptions though. As Rolf said the story is different if you are returning to the same job and two payslips is generally the norm plus a letter from your employer
 
My broker says dont leave your job or else the big 4 wont take you on anothe you are employed for 1 full year..

hmm is this not the case?? I've been working non-stop for 13 years (2 jobs) need a change.

I've already saved probably 45% of value of property I want to get and have good savings history... hmm that should be helpful.
 
My broker says dont leave your job or else the big 4 wont take you on anothe you are employed for 1 full year..

hmm is this not the case?? I've been working non-stop for 13 years (2 jobs) need a change.

I've already saved probably 45% of value of property I want to get and have good savings history... hmm that should be helpful.

Humbug :)

Ta
rolf
 
My broker says dont leave your job or else the big 4 wont take you on anothe you are employed for 1 full year..

hmm is this not the case?? I've been working non-stop for 13 years (2 jobs) need a change.

I've already saved probably 45% of value of property I want to get and have good savings history... hmm that should be helpful.

wow mate, not sure if it is something particular with your situation or industry, but i just changed jobs and even on probation i know One big four would still look at it.

If there is nothing special with your circumstances, your broker sounds lazy!
 
wow mate, not sure if it is something particular with your situation or industry, but i just changed jobs and even on probation i know One big four would still look at it.

If there is nothing special with your circumstances, your broker sounds lazy!


Ahh cool, think my broker is being cautious. Maybe I should check up on that.
 
The ANZ is very cautious if you're in a probationary period, but the others don't have too many issues with a new job. Occassionally you might need to provide a group certificate in addition to 2 payslips if you're less than 12 months in your job.

If you've just come back from maternity leave, an employment letter explaining your leave can go a very long way.

With a 45% deposit, the banks (even ANZ or others who might be very conservative) won't ask too many questions.
 
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Ahh cool, think my broker is being cautious. Maybe I should check up on that.

not to be mean but is cautious the right word? I have had bad experiences in the past where this caution (or ignorance?!?) is a thinly veiled plot to steer you towards a bank that pays better commission.

If your broker can get the deal through, i dont think it is up to them to be cautious.

Suppose you have done the right thing and asked these questions in a public forum, where a brokers supposed brink wall can be openly discussed.

Sounds like your broker is 1. incompetent or inflexible (best case), or 2. not putting your interests first (worst case).

I would PM a few of the posters on here and see if they can do better.
 
My broker says dont leave your job or else the big 4 wont take you on anothe you are employed for 1 full year..

hmm is this not the case?? I've been working non-stop for 13 years (2 jobs) need a change.

I've already saved probably 45% of value of property I want to get and have good savings history... hmm that should be helpful.

Maybe I should check up on that.

I would definately check up on that.

FWIW, my eldest who has only been working full time for just over three months and is being paid minimum wages has got a pre-approval for a small mortgage from one of the forum brokers.

She has a substantial deposit to help it along, but it is not anywhere near 45% of the purchase price, like you. Something just does not sound right with what your Broker is telling you.

There are Brokers, and there are Brokers. Although I have only used one on this forum, I am told that there are many good ones associated with this forum. I suggest trying one of them.
 
Thank you all!

I'm not on probation, I've been there for about 8 yrs now (gosh time flies!) in same position for the last 4yrs.

We made it through the last 20 months I was off work thanks to our LOC & my 'tight-ar$eness' he he. Feels great to be earning an income again; $2K a fortnight seems like the kings riches after earning zilch while off.

Off to scour the internet for property again - YAY - my favourite shopping exercise :)
 
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