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How can you increase your borrowing capacity?
With average capacity having fallen c 30 per cent since May last year, it’s an important question.
There are many factors within the borrowers’ control which can drastically influence the outcome. For example choosing the right lender who can look at particular income or exense items in more favourable ways, could result in substantial variance.
There are also existing liabilities like other mortgage commitments, car leases, credit cards and HECS which could be lowered or cleared to heavily impact the outcome.
We’re also encouraging a lot of our self employed clients to send us draft financials before finalising. That way we can discuss potential loan structures and strategies in conjunction with tax planning considerations.
More on today’s show, ep #77 – thanks for tuning in.
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The Long Property Show provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. Nothing in the Long Property Show constitutes legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
