What to ask the $BANKS$, before applying for a home loan
- Thread starter janiyaha
- Start date
Removing consumer debt is always good.
But if you've got limited savings (which someone mentioned above) it might mean you'll end up using it all to pay off other debt - which means starting from scratch for you property deposit.
There's no right or wrong here - just something to consider.
Cheers
Jamie
But if you've got limited savings (which someone mentioned above) it might mean you'll end up using it all to pay off other debt - which means starting from scratch for you property deposit.
There's no right or wrong here - just something to consider.
Cheers
Jamie
Bearing in mind that no lender will tell you that you could do better down the road i would save time and contact one of the Melbourne Brokers on the forum.
You could give them a list of your loan requirements and they can come back to you with some lending suggestions.
Last thing you want to do is find the first lender does a credit search and then you find a better deal and your credit score is affected.
Whats more in most cases we do it for you for free.
Jamie is based in the ACT and thats almost Melbourne when you come from sunny Qld.
You could give them a list of your loan requirements and they can come back to you with some lending suggestions.
Last thing you want to do is find the first lender does a credit search and then you find a better deal and your credit score is affected.
Whats more in most cases we do it for you for free.
Jamie is based in the ACT and thats almost Melbourne when you come from sunny Qld.
You could be cheeky and ask the bank to recommend a broker who'll give you lending advice which is not bias towards a specific lender. Someone working for Westpac won't tell you that ANZ has an equivalent product that's significantly cheaper.
My experience with most font line bank staff is they're not very knowledgeble outside of advice for people who don't invest. Give Jamie a call. He's done quite a bit of investing and has some excellent experience in setting up loans for investing.
My experience with most font line bank staff is they're not very knowledgeble outside of advice for people who don't invest. Give Jamie a call. He's done quite a bit of investing and has some excellent experience in setting up loans for investing.
why dont you call up a broker (plenty knowledgeable and experienced ones on this forum who happen to be active investors themselves) ... they will tell you what they need from you ... and help work out your borrowing capacity and give some guidance on what bank/package might be most suited to your needs
i used to skip the broker and just go to the bank direct, as for some reason the bank would always lend me more money than when i apply through a broker ... but having recently dealt with some very competent brokers on ss i will not hesitate to go through brokers first with my future purchases - it's a great one-stop shop for you to get a rough idea of your options ...
i used to skip the broker and just go to the bank direct, as for some reason the bank would always lend me more money than when i apply through a broker ... but having recently dealt with some very competent brokers on ss i will not hesitate to go through brokers first with my future purchases - it's a great one-stop shop for you to get a rough idea of your options ...
That's cause if you apply yourself you have to tell them everything from the colour of your underwear to what you're having for dinner tonight.
i wish that was the case ... as that would've been a much more interesting conversation ...
I imagine it would be alot more difficult to get things done without a broker on your team.
