Commercial lending

Discussion in 'Loans & Mortgage Brokers' started by Mlee17, 1st Nov, 2023.

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  1. Mlee17

    Mlee17 Well-Known Member

    Joined:
    9th Feb, 2019
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    Location:
    Southbank, VIC, 3006
    Hi all

    Do banks look unfavorably to contract/casual borrowers if purchasing a commercial investment property?

    My current broker has conveniently slipped out and says that he is unsure whether one of the big 4 banks will consider my casual/contract income.

    Wanna get some thoughts and experiences from people here?

    Thank you.
     
  2. Lindsay_W

    Lindsay_W Well-Known Member

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    What is it? Casual income or contracting income? The 2 types are viewed differently
     
  3. Mlee17

    Mlee17 Well-Known Member

    Joined:
    9th Feb, 2019
    Posts:
    330
    Location:
    Southbank, VIC, 3006
    Casual income but in an 18 months contract.

    For example, contracting for govt but paid by the recruitment agency if that makes any sense.
     
  4. Lindsay_W

    Lindsay_W Well-Known Member

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    If you've been working the casual role for >6 months I can't see why they wouldn't include the income for servicing. If less than 6 months in the casual role probably not.