Spudway,

As we are at (or very near to) the bottom of the interest rate cycle how are you planning on funding your loan when money gets more expensive? If you can’t afford it now,, how are you going to afford it when rates are on the up? (I know you say you can afford it but the banks have reviewed your situation and credit history and declined you and I’m with the banks on this one)

You said you have some friends who are going to come and stay with you (which you presumably haven’t told centerlink about). Why don’t you buy the house with them as well with an option to buy them out in 5 years or something? If they bought $30k of the house and you bought $80k the bank would only need to loan you $30k.

I agree with some of the other comments provided by crashy and others.
– You have $50k in the back burner that you aren’t working.
– You have a bunch of cars… interestingly enough there is another thread on this site with people who own a bunch of properties and the crapbox cars they drive. You don’t need good cars like that and I’m sure they have an ikea in WA.

One thing that I find very odd is that you have only asked for a big chunk. You are going to have more luck getting a little money from a lot of people than a lot of money from 1 person. To me that screams “scammer”

Here is a strategy for you.
– Do as much charity fundraising, donations etc as you can
– Sell as much as you can (cars included)
– Live within your means and save as much as you can
then you can approach the bank when you have saved a further $20k (from above items) and then go to the bank and try and get finance.