Hi guys,
I’m still having trouble gaining finance for a unit I’ve been looking at for a while now.My biggest problem (as some of the mortgage brokers on here know) is that my job is “casual”.
The place I am looking at has a second bedroom that I would rent out if I were to buy. I can think of a couple of people off the top of my head that might be interested in being my tenant.
Would lenders look upon me more favourably if I were to gain a letter from one of these people saying they would rent the room at $x p.w?
Thanks for your help, it is much appreciated
SpankAge doesn’t negate effort – you can never be too young or too old.
You are still employed on a casual basis regardless of any additional income. The lodger will hep you pay it off but it doesn’t change this stumbling block.
Most banks need a written lease for the property. This means the whole property – not just a room.
Have you approached your boss and asked about being employed on a permanent basis?
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Todays Hot Rate
***3 year fixed – 6.49%***Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Banks won’t take into account income from renting rooms out. Your problem is mainly from being casual, so why don’t you ask your employer to make you full time. After the loan is approved, you could go back to casual if need be.
Terryw
Discover Home Loans
Mortgage Broker
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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