Hi,
Are there ways to get a bank to approve lending to you if u are not working (at the moment), except for some savings and passive income (rentals) through some overseas properties?
I've heard of banks who will take your local property as a pledge if u do own one. But given the circumstances, does the bank take the same creditworthiness in your overseas property to qualify for a loan? How does one start from here?
Appreciate any form of advise here. Thanks.
New-kid-on-the-blk,
dan.No lender will take overseas property or your credit rating abroad into consideration but may take some of the rental income.
You will however require an Australian income unless you use a Nodoc style of loan (After Macquarie Bank withdrew from the Australian marketplace this is getting harder to find).
Richard Taylor | Australia's leading private lender
You may fight hard and get one of these loans around from 'non-conforming' lenders, but beware, you may need to be less than honest on the application….
In light of recent market volatility and interest rate rises, these loans may not exist for long
http://therainmaker.net.au
Small Stock Investing
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