Hi,
I was just wondering if anybody new of a wrap lender i.e. recognises the whole income coming from wraps (not just 1/3 of the rental appraisal) who will lend to a newly formed trust.
I heard that NAB are offering wrap loans at the moment. Do they lend to newly formed trusts?
Another question – is it possible to give up work and gain loans based solely on your wrap income? I would be interested in hearing from others who have done this.
Thankyou
Hi Buck,
Generally the lender will accept a rental appraisal letter. The Nab with discussions with them will take all of the rent.
With respect of newly formed trusts, a number of lenders will accept this, if they are set up for the purpose of acquisition of property.
As you are a guarantor, the lender will look at your ability to service the loan should something go pear shaped, therefore your income will be taken into account.
Consider your own needs financially before giving up the ‘day job’
Good luck
Cheers Bobbie [
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