Future income

Discussion in 'Loans & Mortgage Brokers' started by Cimbom, 13th Apr, 2018.

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  1. Cimbom

    Cimbom Well-Known Member

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    Just wondering if any lenders take future income into account? By that I mean a future-dated job offer starting in several months. I presume they require you to have started the job and at least gotten a payslip but thought I'd double check. Thanks :)
     
    Cimbom, 13th Apr, 2018
    #1
  2. Noobieboy

    Noobieboy Well-Known Member

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    ...and passed the probation period, generally speaking.
     
    Noobieboy, 13th Apr, 2018
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  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    None that I know of - what if you don't start?
     
    Terry_w, 13th Apr, 2018
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  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Nab will do a loan with a contract and a confirmation that you have started.

    much beyond that its not likely to happen

    Whats gonna be isnt compliant with the NCCP, more so what is, or what was for the self employed

    ta

    rolf
     
    Rolf Latham, 13th Apr, 2018
    #4
  5. Eric Wu

    Eric Wu Well-Known Member

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    you are right @Cimbom , very unlikely lender will take a job offer as employment and income
     
    Eric Wu, 13th Apr, 2018
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  6. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    More likely a concern. Lenders expect probation period etc. A recent client was told by his bank to reapply in 12mths after starting a new job based on age etc broker found a solution
     
    Paul@PAS, 13th Apr, 2018
    #6
  7. Cimbom

    Cimbom Well-Known Member

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    Thanks for your replies - that makes sense
     
    Cimbom, 13th Apr, 2018
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  8. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    yes, well some lenders are just plain stoopid.

    the max guaranteed employment for most wage slaves is 4 weeks termination.........

    ta
    rolf
     
    Rolf Latham, 13th Apr, 2018
    #8
  9. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Agree with Rolf - nab is prob your best bet.

    Cheers

    Jamie
     
    Jamie Moore, 14th Apr, 2018
    #9
  10. Redom

    Redom Mortgage Broker Business Plus Member

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    Nab did it in the past, we’ve used it a bit for Canberra PS graduates and doctors moving cities. I think in the current credit climate they’ll need a payslip though.
     
    Redom, 14th Apr, 2018
    #10
  11. Corey Batt

    Corey Batt Well-Known Member

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    I've done the same sort of things for clients recently still without further evidence required, but it looks like it'll probably go the way of the dodo judging the way policy is heading.
     
    Corey Batt, 16th Apr, 2018
    #11