Browse Forums Home Finance 1 Jul 06, 2015 12:13 pm My husband had a permanent job when we put a deposit down on our land. Work dried up and he was only able to pick up permanent/casual work. Our mortgage broker told us we would need 3 months worth of payslips when we reapplied for our loan (it needed to be reapplied for if it wasn't drawn down in 3 months). Although quite a few jobs came up during those 3 months we didn't want to take any risks so he didn't apply. We got the 12 payslips and presented them to the mortgage broker last week. Out of the blue he tells us if my husband got a permanent job he would only need 1 payslip. Now he tells us! So he has an interview this afternoon but doubts are starting to set in. The bank would be happy with only 1 weeks work. Hes given us wrong information previously so is this true or not. Its with the CBA Re: Need To Know If This Is True 2Jul 06, 2015 12:23 pm Hi - what percentage are you borrowing do you know? If the longer term history is stable and its the same role they some banks will consider it. Build on the strength of the continuous employment and the length of time in his previous role. Best of luck! Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Need To Know If This Is True 3Jul 06, 2015 1:09 pm becjarrettdalton Hi - what percentage are you borrowing do you know? If the longer term history is stable and its the same role they some banks will consider it. Build on the strength of the continuous employment and the length of time in his previous role. Best of luck! We have only been in the country for 2 years but arrived with the proceeds from the sale of our home so will be putting in a sizable chunk of our own money. However not realising that housing was so expensive here we still need to borrow 3/4's of what we need. The interest rate quoted is quite high, a little over 5% My husband is very highly skilled and although hes had a couple of jobs since arriving hes never had any trouble going from one job to another with no breaks in between. He finally found the one that wanted him permanently, had him lined up for promotion and even sent him overseas to do work for them but their main contracts dried up so he had to find something else, they have kept him on the books but they are still struggling and just don't have the work for him. The position hes gone to is permanent/casual, they refuse to make anyone permanent and have had some workers there for up to 10 years on casual. But with me only able to find work for one day of the week we need a little more certainty (we're not even sure the one hes interviewing for today is permanent, if its not he will stay were he is). We should find out on Thursday if the bank will lend us the money and whether it will be enough as his wages are also a lot less with this casual job. Re: Need To Know If This Is True 4Jul 06, 2015 1:42 pm The rules are much more flexible where you have such a good deposit going in - and I am sure that interest rate is wrong. I wish you all the best, you've certainly had a rough trot! Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Need To Know If This Is True 5Jul 06, 2015 6:59 pm becjarrettdalton The rules are much more flexible where you have such a good deposit going in - and I am sure that interest rate is wrong. I wish you all the best, you've certainly had a rough trot! Yes, that interest rate concerns me too. We have taken it as interest only payments as we plan to live in it for a year, maybe two and hopefully sell at a profit as a very desirable area with all development now finished. My husband was offered the job but it will work out at around $1500 less a year unless he can negotiate the pay rate. Re: Need To Know If This Is True 6Jul 06, 2015 10:36 pm Ok, hopefully $1500 a year is not so much. I do hope there's been some misunderstanding & all is smooth sailing from here. What area are you building in? Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Need To Know If This Is True 7Jul 07, 2015 10:06 am becjarrettdalton Ok, hopefully $1500 a year is not so much. I do hope there's been some misunderstanding & all is smooth sailing from here. What area are you building in? We are building on the Sunshine Coast Re: Need To Know If This Is True 8Jul 07, 2015 6:54 pm becjarrettdalton Ok, hopefully $1500 a year is not so much. I do hope there's been some misunderstanding & all is smooth sailing from here. What area are you building in? Just had notification loan has been approved at 5.05% Re: Need To Know If This Is True 9Jul 07, 2015 9:02 pm that is a really high interest rate for this climate. Are you getting a low doc loan? Regards, Limefroggy Re: Need To Know If This Is True 10Jul 07, 2015 9:16 pm It is a lot. That's a good question - not low doc if you're supplying payslips. Construction so can't be fixed? CBA you said? Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Need To Know If This Is True 11Jul 07, 2015 10:04 pm becjarrettdalton It is a lot. That's a good question - not low doc if you're supplying payslips. Construction so can't be fixed? CBA you said? Our 'Lender Product Fact Sheet' says MAV SP SVR Home Loan LVR <80% ($250k to $499k) Variable 5.05% None of which makes any sense to me whatsoever except for the 'variable 5.05% and yes it is with the CBA Re: Need To Know If This Is True 12Jul 07, 2015 10:08 pm Ask them to apply for discretionary pricing and see what they can do. Happy to look at what I think it should come in at. I'm assuming it's only a fairly small loan (compared to most). Anything you can save will help. Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building I had an old shower unit that broke on me and when I took it off, there were only 2 water pipes, instead of the normal 2 water pipes and a shower head pipe. S o I… 0 36938 The most definitive answer to your question James is this taken from the James Hardie Axon Cladding Installation Guide - i just happen to have it… 5 3667 Thank you so much for the effort. We will use it to talk with builder. We also had idea of building duplex instead and seeking suggest ions. viewtopic.php?f=31&t=106744 11 13833 |