All Topics / General Property / How do lenders take intoDivended, Interest Income

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  • Profile photo of 111111111111
    Participant
    @111111
    Join Date: 2003
    Post Count: 29
    November 24, 2003 - 2:23 am

    I know that most lenders take into account your income using the following rules.

    1. 35% of your salary
    2. 80% to 100% your rental income

    What about the dividends from shares & managed fund and also interests earned from your bank accounts (ie. term deposit) ?

    Any comments ?

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    November 24, 2003 - 2:34 am

    Some banks will allow dividends to be included as income if they are likely to continue. They are about stricter on interest tho. Some will include the income from interest in term deposits, others will not include it at all. If included it would be added to income.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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