Unsecured Personal Loans

From: Duncan M


Has anyone recently applied for an unsecured personal loan with substantial IP debt and large rental income?

Is it hard to get unsecured personal loans when your assets/liabilities details have to be attached on additional paper?

Just curious if I could scrape $30-40K together to form another deposit..

Regards,

Duncan.
 
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Reply: 1
From: Anony Mouse


Duncan
Just go to any bank site on the net and make an application, or at least check out what they need.
Mainly they will be looking at serviceability, and asset position, depending on your age.
Most will allow 60% of rental income.

he difference between truth and fiction: Fiction has to make sense. Mark Twain
 
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Reply: 2
From: Jeremy Laws


Im the loan King! Use credit cards. Citibank have a 'ready credit' which is exy but comes with a cheque book. To give you an idea I have about 80-100k in available instant credit. It is _vital_ and whilst I never intended to use it, I have done so twice so far. I prefer credit cards to personal loans, they are messy, hard to claim tax deductions on, and often have payout penalties. Plastic is way more flexible.
 
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Reply: 2.1
From: W W


I recently applied for a personal loan with Combank over the internet, for $30,000. They indicate 24 hr approval, but 10 days later I gave them a call only to be told it was declined! I am still waiting for the reason. No doubt they did a credit check and found out that I have purchased 6 properties in the past year. (they were cheap ones!).

I too would just use credit cards in future.

Passive
 
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