As my first post I would like to say what a wonderful website i have stumbled across.
If anyone would like to assess my figures i wouldbe most grateful for your input (many calculators do not offer any depth to their calculations)
We live in Sydney and are currently renting a property. We had the good fortune of buying in Perth a few years ago and now want to capitalise on it.
Perth house is valued at 850K, we owe $450K, rented at $500/week.
We have another $150K for a deposit on a house of which we want to buy and reside here in Sydney. I need to know how much more a bank would give us, to determine where to look and to set a price range. Salary is $170K, 2 dependants, no credot cards, no other debts.So how much more would the bank lend us on this information?
Thanks
On the limited information I do not believe that serviceability is an issue at all what is probably more important in your position is to ensure that the loans are correctly structured given that you are on the highest marginal tax rate.
It may be too late to do much about the existing IP although in saying that with some careful planning might be able to get some of that debt working for you harder.
Rather than post your serviceability calculation on the forum I am happy to take this offline for you (feel free to shoot me an email) as you might want to keep somethings private.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.Richard Taylor | Australia's leading private lender
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