All Topics / Finance / Casual Employee Finance post APRA

Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of DanielBDanielB
    Participant
    @danielb
    Join Date: 2009
    Post Count: 33
    September 21, 2015 - 9:53 pm

    Hi everyone.

    I’m looking to purchase a investment property in Tas for 80k with around 190-210pw rent possible. I have aprox 38k cash but I am casually employed since the beginning of the financial year. This allows me to get a much higher hourly rate with a good 4 years of reliable work ahead of me.

    My only debt is a house my wife and I own with a 270k loan through NAB.

    I am hoping to purchase in my company/discretionary trust I’ve had here unused for years or I am happy to purchase in my own name.

    Cheers,
    Dan.

    Profile photo of Options AustraliaOptions Australia
    Participant
    @rodbuyingoptionsaustralia-com-au
    Join Date: 2015
    Post Count: 3
    September 21, 2015 - 10:54 pm

    Hi Dan,

    Yes sounds OK subject to long term previous employment history. Being casual is OK and the suggested LVR would qualify. May have problem in trust but will be OK in personal name.
    Regards,
    Rod

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    September 22, 2015 - 6:28 am

    Hi Dan

    Not as bullish as BOAP as less than 12 months Casual employment will discount the majority of lenders however a couple i can think of would be ok.

    Hate to say wouldn’t be one for NAB but subject to lvr and the zoning / security being ok should be fine.

    Cheers

    Yours in Finance
    0-40 Properties in a decade. Ask me how.

    Richard Taylor | Australia's leading private lender

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010
    September 22, 2015 - 10:42 pm

    You’ve been in casual employment for long enough for this not to be an issue – have a lot of casual employees in our client list who have built strong portfolios.

    It’s a reality that more and more of the population is moving to casual employment, and lenders policies have slowly been moving to recognise this.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    September 23, 2015 - 10:17 am

    Casual employment usually leads me to which bank :-)

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of DanielBDanielB
    Participant
    @danielb
    Join Date: 2009
    Post Count: 33
    September 23, 2015 - 8:38 pm

    The Commonwealth Bank? Lol.

    Thanks for the replies everyone.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    September 24, 2015 - 6:49 am

    I can think of one other but yep CBA is the place for CE.

    Cheers

    Yours in Finance
    0-40 Properties in a decade. Ask me how.

    Richard Taylor | Australia's leading private lender

    Profile photo of MoggyMoggy
    Participant
    @lordmoggy
    Join Date: 2015
    Post Count: 24
    September 29, 2015 - 9:38 pm

    Define the hours regarding casual employment that Cba will accept?

Viewing 8 posts - 1 through 8 (of 8 total)

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