Hi Everyone, Ive been googlin around an this forum is the best one, it's answered all my questions so far, so thanks to everyone who contributed on here..
Here's my question… I've been getting mixed answers from people an I need to know if I have more borrowing power telling my lender I plan to have 2 people boarding in my PPoR so it actually increases my annual income, therefore increasing my Borrowing power? or am I way off an it's actually the opposite meaning i need a commercial loan or something stupid like that?
It'll be my 1st home too..
Any comments?
Cheers.. Gezza.
Gezza
No most lenders will not consider income from border or lodgers to increase your serviceability however like anything there is always one or two who will if the lvr is right.
Richard Taylor | Australia's leading private lender
Thanks for the reply Richard!
Nah, my LvR would only be 5-10%, It would be good if they took it into consideration, but i guess i can see why it would be risky to loan based on that..
Ok, here's another tricky one for ya's… If my sister an I buy a house an both our names go on the contract as PPoR, what happens regarding CGT if later down the track one of us buys another PPoR an moves into it? Does it then count as being an IP? Even tho, say, I still live there, But my sister doesn't…?
Thanks everyone!
At 5-10% Lvr you wouldnt bother it would just be approved.
You cant claim 2 PPORs as your main residence and get be exempt from CGT on both. Not for ever anyway.
Richard Taylor | Australia's leading private lender
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