would any one be able to tell me if banks would know about other properties yu have with other lenders. I have 12 in total and most with different lenders, everytime i go for another loan to purchase more its a pain in the butt to supply everything. Am i risking if i dont disclose all properties. just a question, thats all!!! thx regards gianni
All of your debts will be on your CRA.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
It depends. Records on your CRAA drop off after 5 years, but somehere has said that banks have access that enables them to see beyond the 5 years. Some banks do not even do CRAA checks if the LVR is low enough.
Sometimes the banks will also do a name search on the individual to see which properties they still own. This data is, I beleive, state based – so even if they did that they may not pick up all of your properties if in different states.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Remember that you are signing a declaratio as to the veracity of the information you provide the bank.
To obtain anything by misrepresentation is fraud.
All the best,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
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