HI GUYS!
I really need heaps of advice on this matter, i realise that i should wait until i have a permanent job, i have been here for over 1.5 years and my job will be advertised in about 1-2 months, i have about a 90% chance of getting it but someone else could come and pip me at the post. (doesnt happen alot though) anyway, i have seen so many houses that i would love to get but have always been putting it off because iam not permanent. but i figure i initially came here for only two weeks temping and have been put on two contracts so figure that they want to keep me. i have seen an awesome place in ashgrove, brisbane which i was kill for! – what are u thoughts about getting a loan before iam permanent? i have an ok deposit – please help! i know alot of ppl would be permanent first but then again some would just do it!! look forward to ur response – cheersHi mcubed,
I would be inclined to wait until that piece of paper arrived.
As you expect to have this confirmed in the near future there is no need to rush. While this particular deal may not be there when/if you are appointed there will always be another and another and so on.
You do not indicated how old you are but I would suggest that you have time to build a sound foundation upon which to start your investing – advance your cause initially by ensuring you have an income to support this initial purchase.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958hey Derek
thanks for that,
the thing is that i have seen this house before, it was for sale last year and it must have not got sold so that vendors did painted the whole house again, and put it back on the market, this is exactly what iam looking for .
i am 22
if i didnt get the job (minimual chance) there are always heaps of other jobs areound that are permanent
thanksthoughts?
Hi MC,
While I understand where you are coming from – I still cannot reconcile the conservative bones in my body.
Approach the matter from a worst case scenario; you don’t get the job, you are terminated and cannot find another job, what will you do then?
I go back to the initial comments – there will be others and time is on your side – but then I am just a conservative old f….[biggrin]
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958Yes it will be hard. how long is your contract? The lenders will want to see the agreement and to look at the terms and the lenght remaining etc. It will also depend on what sort of LVR you require.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
80% LVR is probably ok but over 80% will probably be hard.
Cheers
Stu
thanks for that guys
my contract ends in June but word has it the job will be advertised between now and June.
80% LVG (what does this mean?) leverge?
i have been working full time since July 2003
this is my second jobsavings have been consistant since then
thoughts?
Means proportion of property’s value you need to borrow. E.g. $200,000 purchase price with a loan of $160,000 = 80% LVR (deposit is therefore $40,000 plus costs).
Cheers
Stu
Hi Mcubed
If you have been employed on a contract basis with the same employer for 1.5 years, have 20% deposit plus closing costs, stamp duty etc and you meet the lenders serviceability requirements there should be no issues, Cheers.Regards
Steven
Mortgage BrokerMobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.auPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
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