From: Always Learning
Members,
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I was interested in a comment by Steve Navra in his "rental reality" posting.
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1) How far can one progress, before serviceability runs out? (Based on one’s personal income level and up to the point where banks start saying you are ‘too rent reliant’.)
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IMO banks never say "too income reliant" in determining you serviceability level. Could you imagine asking for big bank for a loan and they decline as you depend completely on your job for income; "too income reliant"?
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What is "too rent reliant" from the bank's point of view? At what point of (rental income, salary income, equity level) could this be a concern for me?
<p>
Members,
<p>
I was interested in a comment by Steve Navra in his "rental reality" posting.
<p>
<cite>
1) How far can one progress, before serviceability runs out? (Based on one’s personal income level and up to the point where banks start saying you are ‘too rent reliant’.)
</cite>
<p>
IMO banks never say "too income reliant" in determining you serviceability level. Could you imagine asking for big bank for a loan and they decline as you depend completely on your job for income; "too income reliant"?
<p>
What is "too rent reliant" from the bank's point of view? At what point of (rental income, salary income, equity level) could this be a concern for me?
<p>
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