All Topics / Finance / Stocks and banks view of them for deposit.

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  • Profile photo of amazingjefferyamazingjeffery
    Participant
    @amazingjeffery
    Join Date: 2010
    Post Count: 68
    June 17, 2010 - 2:20 am

    Looking at buying my first property but with RSPT uncertainty where I live, work and want to buy i was considering holding off for a little while. Was thinking of using some of my deposit and putting it into the share market while I hold off. Would that money then be classed as non genuine savings to the bank ?  I have just over 5% deposit now and was thinking of using a little for some day trading. Any help would be much appreciated, just not sure if funds in stocks are going to be a problem for the banks?

    Thanks,
    Jeff

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    June 17, 2010 - 3:18 am

    It should be still qualifying as genuine savings as long as you can show the money trail.

    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

    Profile photo of number 8number 8
    Participant
    @number-8
    Join Date: 2010
    Post Count: 333
    June 21, 2010 - 1:10 pm

    The banks won't have to assess you for a deposit (after day trading), you won't have any.

    I laughed anyway…….

    http://www.birchcorp.com.au

Viewing 3 posts - 1 through 3 (of 3 total)

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