Browse Forums Home Finance Re: Loan application rejected! :-( Please advise 2May 26, 2009 1:45 pm Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: Loan application rejected! :-( Please advise 3May 26, 2009 1:57 pm Metricon Riva 33 - http://herlihy-riva.blogspot.com Site start 15/03/2010 - Handover 23/12/2010 9 months and 8 days (284 calendar days) from site start to handover Re: Loan application rejected! :-( Please advise 5May 26, 2009 3:19 pm Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: Loan application rejected! :-( Please advise 8May 26, 2009 4:30 pm John, Tarin and the Kids Built and moving in to the Regent Grande with Masterton homes http://thebrownsaremovingtothecountry.blogspot.com Re: Loan application rejected! :-( Please advise 16May 28, 2009 12:58 am Metricon Riva 33 - http://herlihy-riva.blogspot.com Site start 15/03/2010 - Handover 23/12/2010 9 months and 8 days (284 calendar days) from site start to handover Re: Loan application rejected! :-( Please advise 17May 28, 2009 1:55 am That wouldn't work at all. You can't borrow to put together a deposit any more, even if you try to hide the debt it will be discovered. The days of liberal lending have long gone and the government's new promised legislation to cover consumer lending has truly put lenders on notice. There is a reason for the savings requirement. That is you prove to the lender that you have capacity to save and responsibly handle debt. If you borrow money to use as deposit, you are missing the point the lenders are making. "But I can afford all the repayments" argument doesn't work with mortgage insurers. Not many will publicly admit that ngative credit scoring is already here and heavily used. Those applicants who change addresses every 1-2 years, make 2-3 finance applications per year and already have personal loans score low when applying for a high LVR home loan especially if they are first home buyers. It doesn't matter what lenders say in their advertising, if your assets do not outweigh liabilities, forget about applying for a home loan these days. Re: Loan application rejected! :-( Please advise 18May 28, 2009 9:25 am We earn about $6200 per month and our car loan repayment is only $430.It's the childcare that's making a hole in our pocket but we get 50% back every quarter. I've just started this job a month back and so our bank statement looks healthier now but didn't earlier.... It's the land handover due next month that bothers us! Re: Loan application rejected! :-( Please advise 19May 28, 2009 10:54 am How did you go with the broker? Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: Loan application rejected! :-( Please advise 20May 28, 2009 12:52 pm Thanx for asking Hels....we meet with the broker on Monday. But in the meanwhile we spoke to Defcredit and they're very positive about it but said the only problem would be with the fact that I'm on probation for another 2 months. Just spoke to the director of my section and she said that she was happy to give a letter saying that it was highly unlikely that I'd not be made permanent.In my first appraisal,I've done very well... I hope that'd help somehow! The biggest challenge will be if you take out a loan and then run out of money - you'll have an incomplete security and lenders do not like this so you can get stuck.… 2 19458 Thanks for the response! However, it's have been sorted. But for others benefit here is what we had to do. Unfortunately, it's not straightforward. BCC washed their hands… 3 7258 If your patio is going to be 35 sqm then that's going to need Council Approval. The fact that they previously approved your 25sqm patio will be irelevant 1 5617 |