Total Members: 159,401

sald

  • sald replied to the topic Bank refused my loan application. in the forum Help Needed! 10 years, 4 months ago

    Hi Jamie,
    I am unsure as to what you mean. Not sure what the deal is not serviced means. I am putting in more than the minimal monthly payment. I did tell them that the loan was for investing, business etc. however, I gather from this site…telling them an honest reason gets them nervous. I haven’t even started on my investing journey yet, so I…[Read more]

  • sald replied to the topic Bank refused my loan application. in the forum Help Needed! 10 years, 4 months ago

    Thanks for the feedback everyone..I am in contact with brokers at the moment to see what options are out there.

  • sald replied to the topic Bank refused my loan application. in the forum Help Needed! 10 years, 4 months ago

    Thanks for reply Chris, so basically they’re nervous about giving me a ‘personal’ loan even though it stays in my LOC until needed? They’re eager though to lend if there’s more security and I actually have a property in mind. Thanks for the explanation. Looks like we have a looooong way to go in our investment journey.
    sald

  • sald replied to the topic Bank refused my loan application. in the forum Help Needed! 10 years, 4 months ago

    Hi, thanks for feedback and help. The bank is ANZ and I haven’t yet bought an investment property yet. The loan I was asking was for $50,000 and it would remain in my LOC until needed. The approximate value of property is $400,000 and we have equity of about $110,000. We are shopping around for a better rate!
    Sald

  • sald started the topic Bank refused my loan application. in the forum Help Needed! 10 years, 4 months ago

    Hi all, I’ve lurked around these columns for a long time but this is my first time posting.
    I wonder if anyone has an insight into how I can get around this current problem of mine. I am in awe of the amount of knowledge and expertise on this site!
    I am from a single income family and earn $95,000 part time. The mortgage is currently $295,00 and…[Read more]

sald

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