Hi All
I am new to this site. I have 2 investment properties in Australia and have just returned to Australia from a 10 yr stint in the UK. I am currently unemployed but wanting to get a better rate on my mortgages. One with NAB & other with CBA, both on variabe rates. Am finding it very difficult to find options given my unemployment.
Any feedback would be appreciated
Bruno
You’re only bet is to call up the banks to try get them to reduce the rate. You won’t be able to refinance elsewhere whilst unemployed.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
Agree with Corey – a refinance to another lender isn’t an option.
The good news is that both those banks don’t like to lose customers – so call them up and see what they can do.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
That was the first thing i did
NAB reduced there rate by .20% but CBA wouldnt budge.
I have over 70 % equity in these properties. Must be a way to use it?
Must be a way to use it?
Need to demonstrate borrowing capacity in order to access it.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hate to say equity does nothing to evidence a capacity to repay.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
What rate were you getting offered… more out of curiosity because I’m going through the same process. I am employed though, so that’s important.
I’m assuming you’re trying to get work. Maybe just wait it out?
at NAB im on 5%
Trying to get work for last 6 months. Employment market isnt great in Melbourne!
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