trust loan

Viewing 5 posts - 1 through 5 (of 5 total)

j260899j
Participant
@j260899j
Join Date: 2011
Post Count: 8
August 30, 2011 - 1:27 pm
hi
once i have reached my borrowing limit am i able to approach another lender and borrow more under a different trust. can someone please confirm that.
can anyone recommend a broker in western Sydney that handles trust loan.
cheers
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
August 30, 2011 - 1:48 pm
j260899j wrote:
hi
once i have reached my borrowing limit am i able to approach another lender and borrow more under a different trust. can someone please confirm that.
No. You still need to demonstrate serviceability.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
August 30, 2011 - 9:23 pm
As Jamie mentioned.
Many investors believe this is the case but regretfully nothing could be further from the truth.
Course if you can purchase cash flow positive property then you can keep going certainly in the short term.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
j260899j
Participant
@j260899j
Join Date: 2011
Post Count: 8
September 7, 2011 - 10:40 am
thanks guys
Mick C
Participant
@shape
Join Date: 2010
Post Count: 1,099
September 7, 2011 - 1:43 pm
Have you tried a different bank, all banks have different way they look at serviceability…some take in negative gearing some don’t etc…
Regards
Michael
Mick C | Shape Home Loans
http://www.shapehomeloans.com.au/
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