Hi everyone
I have recently resigned my job in Darwin and I have moved to Brisbane. I have 2 and half months paid leave and I would like to use this time to; first get a job and second start property investing. Since I am quite new at this and it best to get right from the start, I need help. I’m living with a friend but I'll have to move out soon and I would like to purchase my own home. How can I go about this the best way to help borrowing capacity etc. for future financial investments?My personal stats are ATM:
Current Income: $60,000
Savings: $5,000
Debt:Nil (Literally none I owe nothing to no one)
Assets: NilI know, not to flash but you have to start somewhere.
Any advice will be greatly appreciated.You would need at least 5% of the property value in genuine savings and employment of a min of 3 months and be out of the probation period. I also suggest you buy a PPR (home) first to take advantage of the FHOG. Hope this helps.
Whilst there are still lenders who will allow a gifted or borrowed deposit at 95% lvr there is more choice if you can show a savings pattern.
Probably would need at least 3 months full time employment and not be on probation to get such a high lvr.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
You must be logged in to reply to this topic. If you don't have an account, you can register here.
