Just curious if anyone knows what the go is if you were contractor with getting loans for investment purposes. I am currently employed full time with a private company but a contracting position has opened up at the place I am sub-contracted to which would be alot more money and could really help me out with getting deposits together. I was just wondering what the effect would be on myself getting loans for investment properties. I currently do not own any properties and wanted to hear from some contractors about their views on this issue.
Cheers
CamYou would technically be self employed and would have to show tax returns for the last 2 years. I spoke to ANZ and St george this week about this topic and both indicated they would look at someone after 12 months.
Homeside appear to be more lenient and will look at someone straight away if they are in the same industry as before and can prove they were earning similar money to before they were a contractor.
Terryw
Discover Home Loans
Parramatta
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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