Browse Forums Home Finance Re: Non-applicant spouse that is self-employed 2Oct 09, 2012 7:39 pm Michael Chan | Australia wide Mortgage Broker Michael@ShapeHomeLoans.com.au | 1300 74 5626 | Fax: 02 8212 8909 http://www.ShapeHomeLoans.com.au Re: Non-applicant spouse that is self-employed 3Oct 09, 2012 7:58 pm Building the Ascot 35 with Carlisle Homes in Pasadena Estate, Clyde VIC My build thread: viewtopic.php?f=31&t=59776 Re: Non-applicant spouse that is self-employed 4Oct 09, 2012 8:07 pm Michael Chan | Australia wide Mortgage Broker Michael@ShapeHomeLoans.com.au | 1300 74 5626 | Fax: 02 8212 8909 http://www.ShapeHomeLoans.com.au Re: Non-applicant spouse that is self-employed 6Oct 10, 2012 7:51 am Michael Chan | Australia wide Mortgage Broker Michael@ShapeHomeLoans.com.au | 1300 74 5626 | Fax: 02 8212 8909 http://www.ShapeHomeLoans.com.au Re: Non-applicant spouse that is self-employed 11Feb 25, 2013 7:39 am I wouldn't beleive what he would tell me about his nearest and dearest grandmother. despite that, the fact that you can change lender should be motivation enough for your current lender to beat the rate that you can get elsewhere, Mine did. Obviously everyone on here will have a different financial situation, and you would not change if it will cost more in the long run, but if you are under 80% or going to save thousands, I would say your mad not to pick up the phone and ask. Re: Non-applicant spouse that is self-employed 12Feb 25, 2013 1:01 pm jkelleher01 I wouldn't beleive what he would tell me about his nearest and dearest grandmother. despite that, the fact that you can change lender should be motivation enough for your current lender to beat the rate that you can get elsewhere, Mine did. Obviously everyone on here will have a different financial situation, and you would not change if it will cost more in the long run, but if you are under 80% or going to save thousands, I would say your mad not to pick up the phone and ask. At least we agree on something. Sure, your lender might be able to drop the rate 0.1 or 0.2 percent if you ask them, but they know from your situation if you're a likely candidate who can walk out on them. They aren't stupid. The majority of the people who are the ones that are struggling with repayments are your first home buyers, and people who have committed themselves too much and by nature are at 90% - 95% LVR's. These are the ones who would benefit the most from changing lenders but can't because it will cost them too much. There's a reason Swan doesn't go into further detail on his "walk down the road to another lender" statement because he know if he gets scrutinised he will get slaughtered. All I'm saying is that yes, it's beneficial to have a look and do the numbers and see what can be done, but it's not as easy as changing lenders as you make it out to be due to the fact it isn't feasible. Cheers Tom Re: Non-applicant spouse that is self-employed (UPDATE) 13Aug 02, 2013 12:55 pm Just a quick update. We actually got a loan approved using my wife's 1 year tax return for the business with our bank. I called up towards the end of the FY and was asking various questions and they said to apply. We have banked with them for some time and they had the account history on our savings etc. I provided them with a very detailed budget showing we spend probably less than the average 6 person family but was able to corroborate this with our actual savings history. It also really helped that our rent of $550 per week is not that much less than what we will actually have to pay. We were just over the 80% lend level but they are able to sneak through deals with the LMI insurer that they use if they are satisifed with the application. A good result in the end and happy to see some common sense prevail with assessment. cheers, dant Re: Non-applicant spouse that is self-employed (UPDATE) 14Aug 05, 2013 6:17 pm Congratulations!!! That is great news Dant. Commonsense lending is hard to come by these days. However it seems like you found one of them which can accept one year financials and make exceptions because you are an existing customer with them. Sometimes being an existing customer has strong merits to help you achieve difficult loan approval where most banks will not. As the loan is just over 80% LVR, it seems like the bank is able to approve the loan within their own DUA. Once again congratulations and good luck with the rest of the loan. Hi guys, I want to do some floor levelling before laying the planks and am considering doing it with self-levelling or yellow tongue PB board. I am wondering which one… 0 6531 From a pure legal perspective, if you've signed the variation, it is a very high bar to have it set aside. No-one can give you legal advice on a forum, but you would need… 3 5477 Thanks. There are plenty of builders around my suburb. I'll make sure to do some door-to-door knocking, or note their building details on the temp fence. 4 4746 |