+ Reply to Thread
Page 2 of 2 FirstFirst 12
Results 11 to 12 of 12
  1. #11
    Join Date
    Jan 2010
    Posts
    367
    Thanks
    374
    Thanked
    146
    Reviews
    1
    Hi ,

    It does depend on the bank, but if you have dropped in income they will take this into account in regards to how much you an borrow.

    It is also hard for them to use casual wages as it is not considered guaranteed income but if you have a history of working so many hours per week, they may be able to use it.

    Interest rates have reduced since you last borrowed so that is a positive as far as how much you will be able to afford and the history on your current home loan (given you are so much ahead) will also help with the loan application.

    Depending on your parents wages and whether they work or not may also help you. For example if your parents are 80 years old and living on the aged pension - the bank may not consider them suitable guarantors. If they are still working fulltime and middle aged - it would be better.

    Hope this helps, each bank is different though so I am just basing this on my past experience.
    Last edited by Ashfirst; 17-09-2013 at 15:44.

  2. #12
    Join Date
    Jan 2013
    Posts
    1,000
    Thanks
    9
    Thanked
    246
    Reviews
    0
    Achievements:Topaz Star - 500 posts
    Update. Ok. So we have been to the bank. They said no worries to the actual 'borrowing that amount of money' we just need to make sure our house gets re valued high enough as u can only borrow 95% of the house value.
    So nervous about this! We need it to be valued at at least 253000 an it was valued at 230000 in 09/10. Do values generally go up? We will have bathroom renovated prior to valuer coming


 

Similar Threads

  1. home loan with casual job
    By Mummy12 in forum Family Finances
    Replies: 6
    Last Post: 25-03-2013, 09:48
  2. Replies: 52
    Last Post: 31-12-2012, 21:30
  3. Home Loan questions..
    By faroutbrusselsprout in forum House & Gardens
    Replies: 10
    Last Post: 18-09-2012, 17:36

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
FEATURED SUPPORTER
LCF Fun Languages AustraliaFrench, Spanish, Mandarin, Italian & German lessons for children 0 - 12 years. Play-based and immersion language ...
FORUMS - chatting now ...
I am...#22General Chat
Vasectomy reversalConception & Fertility General Chat
The Handmaids Tale Season 2Movies / Music / Books / TV Chat
How would you handle thisGeneral Parenting Tips, Advice & Chat
Child savings accIssues with Family Members
Jolly Joyful JuneConception & Fertility General Chat
REVIEWS
"Made bed time less anxious"
by Meld85
My Little Heart Whisbear - the Humming Bear reviews ›
"Wonderful natural Aussie made product!"
by Mrstwr
Baby U Goat Milk Moisturiser reviews ›
"Replaced good quality with cheap tight nappies"
by Kris
Coles Comfy Bots Nappies reviews ›