- Lets start with the obvious, I have impaired credit.
In 2002 I made a decision to care for my ill father who has now passed away, in doing so we incurred debt and subsequently I entered bankruptcy.My credit file is expected to clear in September 2009 (next year), however we feel the constant desire to purchase our first home, and this is slipping away each year.I earn $140,000 per annum as a Chief Technical Officer for a national telecoms provider. I have worked in my current role for 3.5years.Currently we rent and pay $360 per week (monthly $1560), this lease is due to end in the next 6x months.While enjoying a comfortable home is it making it increasingly hard to save for the deposit, I am sure a story you hear all the time.I am eligible for the first home owners grant, neither myself of my wife have purchased a property before.We have looked at many vendor finance schemes and in most cases you need to select from a property they have on offer, and this is almost always very run down and crippled homes.If we purchase a home it would be a home, not a house. It needs to look and feel like the place we will spend our lives and raise our two boys. We do have higher expectation of a home, character and space. If we do not purchase with a pool it must have the room to install one, same with a pergola and BBQ area. We do not mind paying the price, but only when its ours of course
Do we fit your criteria, remembering the only deposit I can offer would be the first home owners grant and perhaps a minimal cash deposit.We are looking for a WRAPS contract, not a lease option. Ideally the term would be 25-40 years.I would prefer an interest only option for 3x years. And would be happy for you to fund the property IO.To be honest, the property would likely be refinanced within 24-36 months, depending on the clearing of my credit file and subsequent increase in property value to allow for sufficient LVR.What I am seeking is your thoughts on my suitability firstly, and secondly the maximum amount I could borrow (including all fees) so I can ascertain the sort of properties we may be interested in looking further into. With the maximum lending amount could you advise your current interest rate so I can also map my affordability.If you think we can do a deal, I would be very keen to discuss the opportunity over the telephone anytime so please use the links here to email me, its a real email address and I check it all day long for work.
EDIT: The property would be located in Melbourne Victoria (prefer Werribee, Hoppers aka West)
Hi I know you mentioned you went bankrupt in 2002 and it is still listed on your cra
Are you now out of bankruptcy with the listing still there? If so what date did you come out of Bankruptcy?
This is very important in regards to finance institutions. It’s the difference between finding a solution to a problem and getting a normal bank loan.
It will also allow you to broaden your horizon as fare as what kind of property you can buy meaning you won’t have to get vendor finance and pay premimum prices.
You mentioned your yearly income of $140,000
What is your wife’s income and how much savings do you actually have?
You gross income is very high with nominal rent, the question banks would ask is why is you saving so minimal.
Stability is another factor how long have you been renting the property you are currently in?
Do you have children if so how many and do they go to private or public schools, what are their ages?
Do you have any other current debts if so what are they and how much.
There are lots of variable with your question of finance amounts that need to be answered.
I think it would be wiser to discuss your situation in a more private manner.
Australian First finance
[email protected]0412448378
Hi mynewaccount
I have a house that i want to sell in Wyndham Waters (truganina), i'd be happy to have a chat and maybe we can come to some arrangemet?Please contact me via this site or e-mail on [email protected]Wilz
You must be logged in to reply to this topic. If you don't have an account, you can register here.
