my bank has recently said i have reached my lending limit and will not lend me any money anymore.
i have a few negative geared and neutral geared investment properties.
is there any lenders out there that will be more generous?
I know the first thing you will say is get a mortgage broker and yes i will but wanted an overall view of various experienced brokers here.
Iam sure alot of other people in this forum would also like to know too.
Hi ZC,
is there any lenders out there that will be more generous?
From what I read from the Brokers on here, “Yes, some lenders are more generous.” More generous than yours? Well, that depends on who you are banking with. Share more information upfront, ZC, and you will likely get more useful information back to you.
And me? No, I am not a Broker, but let’s see who else replies – they may the answer you are looking for…..
Benny
A strategically planned lending structure will outperform any one lenders maximum borrowing capacity. Generally we find a carefully structured structure can extend your borrowing capacity 1.9-2.5x any one lenders max capacity.
Speak with an investment focussed broker who can look at your situation from a holistic perspective.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
All banks calculate your income and your expenses using different methods. The income minus expenses creates either a surplus or deficit. You’re likely in a deficit with your current bank. You may well be in a surplus situation according to another lender. Not really possible for anyone on here to give you hints on which bank because we don’t know your income, circumstances, current debt levels, goals, etc
@cjaysa above can likely give you a hand.
D.T. | DT Property Management
http://www.dtproperty.com.au
Email Me | Phone MeAdelaide Property Management - whole Adelaide metro
my bank has recently said i have reached my lending limit and will not lend me any money anymore.
That’s the issue right there – it’s ONE bank.
Speak with a decent broker who specialises in IP finance structuring – you’ll likely find out that you can do more.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi ZC
Yes most certainly there are many ways to make your application more attractive to a lender in terms of serviceability but it all boils down to loan structure and the right balance.
It sounds to me like you have a good balance of properties so subject to a few details there is no reason why you wouldn’t be able to borrow that your current lender is saying.
I have dozens of forum clients who have multiple property portfolios we have established over time where their initial lender had told them couldn’t afford to borrow again.
Cheers
Yours in Finance
0-40 properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
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