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Anonymous
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From: Anonymous
I apologise for the anonymous post but I didn't particularly want my work email showing up.
Having just read the "calling in" loans thread, it has raised a question.
In the past I have heard that contractors (as opposed to salaried employees) have greater difficulty obtaining property loans. Also that banks can call in a loan based on whatever, including a change in employment.
My partner and I are currently salaried, but I have been considering a contracting position - significantly more money.
We currently have 2 loans (PPOR & IP), settle on another IP on Friday, and have already exchanged on an OTP IP due for settlement in Mar 03.
Does anyone have any information on how these existing loans, and future loan applications will be viewed if I change employment from salaried to contract.
Or is this very "bank" specific?
RMcK
I apologise for the anonymous post but I didn't particularly want my work email showing up.
Having just read the "calling in" loans thread, it has raised a question.
In the past I have heard that contractors (as opposed to salaried employees) have greater difficulty obtaining property loans. Also that banks can call in a loan based on whatever, including a change in employment.
My partner and I are currently salaried, but I have been considering a contracting position - significantly more money.
We currently have 2 loans (PPOR & IP), settle on another IP on Friday, and have already exchanged on an OTP IP due for settlement in Mar 03.
Does anyone have any information on how these existing loans, and future loan applications will be viewed if I change employment from salaried to contract.
Or is this very "bank" specific?
RMcK
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