I'm just wondering if you pretty much blacklist those clients and to what extent e.g. you may still take the 50% clawback people but not 100% etc.
Currently have a 3 bedroom unit PPOR (older walk-up unit) which CoreLogic is estimating currently as being 900k, with a 680k mortgage.
I earn 128k p.a. from my job with about 5k p.a. additional income from distributions/dividends. I currently have 35k p.a. non-mortgage expenses with total credit card limits of 8k (2 cards) and remaining HELP debt of 2k.
What are the chances of me being able to refinance by January next year if I'm planning on doing a loan split:
I am mindful of potential for an additional rate rise around November and the fact that property downturn may not lead to enough equity being available to remain under 80% LVR. The upside is that I'm expecting 4.75% p.a. pay increase in a few months, I also have enough slack to bring down expenses to HEM level (30k p.a.) few months before applying for a refinance.
I currently have an open Equity Builder facility which is currently IO only in terms of repayments. I'm hoping to refinance early next year to essentially have a split loan:
My understanding is that in the above scenario the credit assessor will just treat the facility as to be closed off at the conclusion of refinance so would be moot. However, if I do decide to keep the facility and not proceed with a split loan, how do lenders generally treat Equity Builder?
Just curious what the brokers' experiences are for clients with these facilities.
When putting in details for the authorised signatories on behalf of the strata for the FTTP upgrade, will those need to be people in the committee? Can one of the signatories be the strata manager or someone outside the committee which were delegated?
I have read that some lenders have already preempted the negative gearing changes and have now tweaked their lending criteria to exclude negative gearing for investment loans. To clarify is this only in relation to property investment loans? Is this different if you're taking an investment to purchase shares/ETFs using your PPOR as collateral?