Obtaining a loan for IP
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When you say 'previous bank statements', is it existing mortgage statements for a refinance, or is it savings statements to demonstrate genuine savings for a purchase?
In both cases there are lenders who don't need to see statements in certain circumstances, but not all.
If you're worried about genuine savings, there are a few lenders who will lend up to 90% without seeing your savings history. They will need to know the funds are available though (an account summary will show this).
There's also a couple of lenders who don't need loan account history to refinance, but they do tend to be a little more expensive than other lenders. Also be aware if you're worried about past account conduct, your credit report may also reflect some things.
The best solution is to speak with a broker about your specific circumstances as general advice probably won't help you.
In both cases there are lenders who don't need to see statements in certain circumstances, but not all.
If you're worried about genuine savings, there are a few lenders who will lend up to 90% without seeing your savings history. They will need to know the funds are available though (an account summary will show this).
There's also a couple of lenders who don't need loan account history to refinance, but they do tend to be a little more expensive than other lenders. Also be aware if you're worried about past account conduct, your credit report may also reflect some things.
The best solution is to speak with a broker about your specific circumstances as general advice probably won't help you.
If all your loans are now fully paid off, you don't need to show statements to any lenders. If you're worried about past conduct but there's nothing on your credit report, simply use a different lender that won't have access to that information.
If the loans are still in place and you want to redraw for a deposit, get an account summary statement from the bank to demonstrate your funds for the deposit. The summary shows the account details including your name and the balance, but not the transaction details. If you only apply for 80% loans, lenders won't require transaction histories unless you're doing something out of the ordinary.
If the loans are still in place and you want to redraw for a deposit, get an account summary statement from the bank to demonstrate your funds for the deposit. The summary shows the account details including your name and the balance, but not the transaction details. If you only apply for 80% loans, lenders won't require transaction histories unless you're doing something out of the ordinary.
If it's paid off ... no need for any statement for any closed home loan accounts even at a high lVR...
From what i read, it sounds like your wanting to buy a new place? if so even with a few late transaction records ( no hit on credit file) it's fine as long as you have a good reason for it ( Ie. my pays goes into a internet account and sometimes i forget etc...)... it's only when you want to refinance that can be a bit tricky.
Regards
Michael
From what i read, it sounds like your wanting to buy a new place? if so even with a few late transaction records ( no hit on credit file) it's fine as long as you have a good reason for it ( Ie. my pays goes into a internet account and sometimes i forget etc...)... it's only when you want to refinance that can be a bit tricky.
Regards
Michael
