No, my fault
Often things that sound so good in my head don't translate all that well to the written word!
Linar wrote:My husband and I started out 4 years ago buying cashflow positive properties in Darwin.
CheersK
Hi K. Sorry, I think I referred to you as a "he" in the "Ethical Dilemma" post! My apologies.
Why can't you go no doc? This is the solution that I had in mind when the time came when serviceability became a major issue.
Regards, Ian
I am still wondering why you cant go Full Doc as the days of being 'Too Rent relient" have been and gone.
My personal portfolio is a little larger than yours and I still go full doc with each new loan application.
And hopefully i am not "one of those mortgage brokers"
Richard Taylor | Australia's leading private lender
Moosehead wrote:From my limited experience with banks, even with a high salary, they won't lend you much more than 600-700k total because of serviceability.We have approx $2.5M in full-doc loans and can get at least $1M more.
Qlds007 wrote:I am still wondering why you cant go Full Doc as the days of being 'Too Rent relient" have been and gone.My personal portfolio is a little larger than yours and I still go full doc with each new loan application.
And hopefully i am not "one of those mortgage brokers"
Hey Richard, (or anyone else)
Can you use equity gains in a completed project as income. eg: A recent duplex that I completed was revalued at nearly 200k over my cost price upon completion. Will any lenders consider this as income even though it was for an investment purpose?
My current broker considers it as income for low doc loans but could I use it in a full doc scenario?Cheers, Ian
Hi trakka
If you don't mind my asking, where do you get your income from? Also, what is your portfolio? Positively geared, neutrally geared, residential, commercial, developments etc?
Who knows, the next question I may ask is the name of your mortgage broker!!
K
I've PM'd Linar.
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