Silly question but not really sure.
I started a new business Nov last year with a partner. So far so good and am now happy to commit to a mortgage again. We ( business partner and I) have been paying ourselves the equiv of $60k pa each. Hoping that it will end up more at year end but comfortable with $60k ea at this stage.
Not sure if it matters but we are registered for BAS, we have unit trust with corporate trustee+ discretionary trust......you get the idea.
My wife is the bread winner so to speak, she's been employed with her current employer as an accountant for the past 18months and is on $90k salary.
Looking to borrow ~$600k
Hoping for 95% LVR
Looking or 100% offset to put savings ( for just incases)
I dare say the loan won't stack up on her wage alone, so does that mean as soon as my situation is included it's automatically a low doc animal?
She can supply everything needed ( I assume) for a full doc loan.
I can only supply a company tax return for 7 months that, being the first 7 months in business, doesn't show much income. I can also show a few BAS statements. Oh, and we have had a mortgage of this size before with CBA when I was self employed 5 years ago.
Thanks for any help
I started a new business Nov last year with a partner. So far so good and am now happy to commit to a mortgage again. We ( business partner and I) have been paying ourselves the equiv of $60k pa each. Hoping that it will end up more at year end but comfortable with $60k ea at this stage.
Not sure if it matters but we are registered for BAS, we have unit trust with corporate trustee+ discretionary trust......you get the idea.
My wife is the bread winner so to speak, she's been employed with her current employer as an accountant for the past 18months and is on $90k salary.
Looking to borrow ~$600k
Hoping for 95% LVR
Looking or 100% offset to put savings ( for just incases)
I dare say the loan won't stack up on her wage alone, so does that mean as soon as my situation is included it's automatically a low doc animal?
She can supply everything needed ( I assume) for a full doc loan.
I can only supply a company tax return for 7 months that, being the first 7 months in business, doesn't show much income. I can also show a few BAS statements. Oh, and we have had a mortgage of this size before with CBA when I was self employed 5 years ago.
Thanks for any help