Jun 19, 2020 1:34 pm
My husband and I were "unofficially" pre-approved for a loan pre-covid. We are trying to borrow about half the approved amount for a building loan, but our mortgage broker is now saying nobody will touch us in the current climate. (Our plan is to sell our current house after the build is complete to reduce the outstanding amount to 1/4 of what we were originally approved for).
It probably doesn't help that I work in the travel industry - but in an IT job that has transferable skills and isn't really anything to do with travel. Prior to Covid I would have been able to easily find a new job. Has anybody gotten a loan since Covid began?
And, does anybody know of any banks who look favourably on IT professionals who might help us out?
Re: Loans in the post covid world2
Jun 19, 2020 1:50 pm
Oh no, poor things. It’s not the IT, it’s travel. Most lenders (nearly all, off top of my head) are not accepting applications from that industry. But let me ask you this - are you still working? Have you considered a move in position? Do you need a bridging style loan loan where you base income on the loan you’ll have at the end?
Property crazy expert mortgage broker, love building new homes!
Two Red Shoes mortgage broker
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