Hi, Could anyone give us their ideas on the following:
would a retired couple (65, 67) qualify for a loan to accomodate a property wrap (vendor finance – buyer already in place). principle place of residence is paid off (with the exception of a withdraw facility up to $50.000, of which 30.000 has been used (bought caravan – grey nomands
Income coming in is 2 regular old age pension. No further debts. Would the fact that we already have a buyer in place willing to enter the contract (plus our regular income/pension) satisfy the bank with regards to servicibility of the loan? Thanks,
ReginaPS: I initially posted this tread under finance, but realise this forum is more appropriate.
Hi ReggieLam
I know some lender who are willing to accept the age pension as income.
Depending on your total income and the amount you require, if this services, I don't see why you will not be able to get a loan.
Without knowing how much pension you receive, what amount you are wanting to borrow ect. it is hard to know what you will be able to service.Regards
Rob Bologna
Dollar Wise Financial Service
[email protected]Reggie i have posted a response under the finance forum.
Richard Taylor | Australia's leading private lender
Thanks Rob
I have posted another message under the finance forum, I'll continue this tread from there.
Cheers
Regina
Income coming in is 2 regular old age pension. No further debts. Would the fact that we already have a buyer in place willing to enter the contract (plus our regular income/pension) satisfy the bank with regards to servicibility of the loan? Thanks,
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