Hi all,
Earlier this year, my wife went into a bank and was given pre-approval. Both names were on the loan (mine included) even though I was not there.
The terms of the loan haven't been dictated, but we were borrowing 95% - now we will be borrowing less than 75%. The only aperwork we have is a piece of paper - Standard Variable Home loan, subject to LOW deposit premium. (This wont be the case anymore).
Questions I have;
1. I have recently changed jobs (2 weeks) but am still employed by previous employer to do work as needed. Can I use my last 2 payslips from previous employer as I don't have any from the new employer (all I have is a letter stating how much I earn, no probationary period, and was an emplyee before, etc...)
2. Is there any way to tell if this is a low-doc loan? The bank hasn't asked to see details of property, only that we provide a contract of sale, evidence of deposit, and 2 payslips.
Concerned as we'd like to bid this weekend, but time is running out. Would love to hear any advice. Thankyou kindly,
Adam.
Earlier this year, my wife went into a bank and was given pre-approval. Both names were on the loan (mine included) even though I was not there.
The terms of the loan haven't been dictated, but we were borrowing 95% - now we will be borrowing less than 75%. The only aperwork we have is a piece of paper - Standard Variable Home loan, subject to LOW deposit premium. (This wont be the case anymore).
Questions I have;
1. I have recently changed jobs (2 weeks) but am still employed by previous employer to do work as needed. Can I use my last 2 payslips from previous employer as I don't have any from the new employer (all I have is a letter stating how much I earn, no probationary period, and was an emplyee before, etc...)
2. Is there any way to tell if this is a low-doc loan? The bank hasn't asked to see details of property, only that we provide a contract of sale, evidence of deposit, and 2 payslips.
Concerned as we'd like to bid this weekend, but time is running out. Would love to hear any advice. Thankyou kindly,
Adam.